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Frequent answer: What is all about nigeria youth investment fund?

The NYIF which aims to financially empower Nigeria youth to generate at least 500,000 jobs between 2020 and 2023 is funded with an initial take-off seed capital of N12. 5 billion.

Amazingly, what is the Nigeria Youth Investment Fund about? The NYIF is an initiative by the Federal government to invest in the innovation skills and enterprise of young Nigerians. The loan has a single-digit APR of 5 per cent and a moratorium of 12 months before repayment. Nigeria Youth Investment Fund(NYIF) was approved by Federal Executive Council in July 2020.

Subsequently, is NYIF a loan or grant? Is NYIF a Loan or a Grant. The NYIF Loan is a loan and not a grant as the beneficiaries are required to at a maximum of 5 years with a tenor extension (moratorium) of 12 months.

Frequent question, is NYIF loan Real? Nigerian Youth Investment Fund NYIF is a government initiative created to boost the Nigerian economy through leverage and access to finance for youths. … Start or grow your own business with the help of a government-backed loan and free business support.

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Additionally, who is eligible for NYIF? Individual must be a Nigerian within the age bracket of 18 to 35 years. Has a valid BVN and means of ID. Provision of Business plan Summary or Completed Questionnaire.

  1. Visit www.noya.ng.
  2. Click on Register if you don’t have an account or Click on Login if you have already created an account.
  3. A confirmation link will be sent to your email address.

Is NYIF registration still ongoing?

NYIF loan is a government-initiated program to help alleviate poverty and assist young Nigerian enterprises by giving them loans of different amounts. The program has been going on since 2020 and registration is still ongoing. … the loan purpose, the loan interest rate, and the terms associated with it.

How do I check my youth investment fund?

  1. Login to www.nyif.nmfb.com.ng.
  2. Input your application details and password.
  3. Click on Login.
  4. Once your dashboard opens, navigate to the shortlisted candidates tab.
  5. Click on it.
  6. It will display if you have been shortlisted or not.

How do I apply for a Nirsal loan?

  1. Your letter of employment.
  2. Pay slip.
  3. Your staff ID card.
  4. 6 months statement of your bank account.
  5. Other valid means of ID like your National ID, Drivers’ licence, and so on.
  6. A utility bill.
  7. 2 passport photographs.
  8. A guarantor form.

What is the interest rate on NYIF loan?

The loan provided under the NYIF has an interest rate of 5% per annum and a tenor of 5 years with a moratorium of up to 12 months.

Has NYIF started disbursement?

The Minister of Youth and Sports Development, Mr Sunday Dare, has disclosed that disbursement to about 1000 youth beneficiaries of the Nigerian Youth Investment Fund (NYIF) would soon commence.

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Is certificate from NYIF worth it?

An NYIF certificate is a valuable addition to your credentials, proving that you have acquired the work-ready skills that employers value.

How can I apply for Youth fund in Nigeria?

  1. Step 1: Get Trained. Applicants to attend a compulsory entrepreneurship training with an approved Federal Ministry of Youth & Sports Development (FMYSD) EDIs.
  2. Step 2: Apply For Loan.
  3. Step 3: Submit an Application.
  4. Step 4: Approval.
  5. Step 5: Disbursement.

How do I know if my NYIF loan is approved?

  1. Applicants are to Visit the NYIF portal nyif.nmfb.com.ng.
  2. Provide your login details in the NYIF dashboard(Username and Password).
  3. Then Click on Check Loan Status.

Is Noya real?

The Nigeria Online Youth Assembly (NOYA) is an initiative of the Ministry of Youth and Sports Development in collaboration with a private Technology company, Focus Group Limited in order to empower the Nigerian youth by disseminating timely information on career enhancing, training, job and employment placement …

Is NYIF portal open?

The Nigeria Youth Investment Fund Portal is now open and everyone who is interested is free to apply online via NYIF portal. … We will show you how you can make good use of this opportunity for Nigeria Youths and get the loan to start up a business to support you.

How do I register for NYIF 2020?

  1. Step 1: Visit NYIF Application Portal for the Application Form.
  2. Step 2: Enter Your Personal Information.
  3. Step 3 – Chose Preferred Training Center.
  4. Step 4: Select How You Heard About NYIF.
  5. Step 5: Accept NYIF Terms of Service.
  6. Step 6: Submit Your Application.
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How do I update my NYIF?

  1. Login to the NYIF official portal https://nyif.nmfb.com.ng.
  2. Click on the “dashboard” and select the account update icon.
  3. Then on the icon, select ‘account update’ and provide your bank details.
  4. Then click on “Summit.”

Who owns Nirsal microfinance?

ABOUT NIRSAL The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL Plc.) is a US$500million Non-Bank Financial Institution wholly-owned by the Central Bank of Nigeria (CBN) created to Redefine, Dimension, Measure, Re-Price and Share agribusiness-related credit risks in Nigeria.

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