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Is nigeria youth investment fund legit?

The Central Bank of Nigeria (CBN) has released guidelines for implementation of the proposed N75 billion Nigeria Youth Investment Fund (NYIF). CBN, in a statement by its Development Finance Department, stated that the fund was a built-in strategy to effectively respond to the challenge of youth employment in Nigeria.

You asked, 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.

Moreover, 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.

Quick Answer, 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.
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Likewise, how do I check my Nigerian 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.

Who is eligible for Nigeria Youth Investment Fund?

Eligibility Criteria An eligible youth must be within the age bracket of 18-35 years, have business/enterprises domiciled and operational in Nigeria, has not been convicted of any financial crime in the last 10 years, has a valid Bank Verification Number (BVN) and possesses a Local Government Indigene Certificate.

Is NYIF registration still on?

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 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.

How do I apply for Nigerian youth investment fund NYIF?

Visit NYIF Portal www.nyif.nmfmb.com.ng to register. Sign up and fill the information required of you. Once you have created and account, you can proceed with the application process. Please take note, the application process is free of charge.

Is certificate from NYIF worth it?

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

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.

What is Nirsal microfinance?

Nirsal Microfinance Bank is a CBN licensed institution offering loans for multiple purposes in Nigeria.

Is NYIF shortlisted candidate?

Currently, NYIF 2021 Shortlist is not out. But once the list is finally released, we will ensure we publish it here so you can access the shortlisted names for the Nigeria Youth Investment fund programme. So how can you check if your name appears on the list. Follow the instruction below.

How can I login to my NYIF account?

NYIF Application Portal Login www.nyif.nmfb.com.ng 2021 The application process is very easy and straight forward and you can login to NYIF Portal with your device. Simply visit the website www.nyif.nmfb.com.ng registration portal. From the portal, you should be able to access NYIF Application form successfully.

How long does it take to get Agsmeis loan?

How Long Does It Take To Receive The Fund? From application to submission to disbursement, it takes six to eight weeks.

How do I train for NYIF?

After registration on the NYIF Portal, then next phase will be include business plan upload and training. All those who applied will have to undergo an approved entrepreneurship training organized by the Federal Government. You can participate in this by filling te NYIF Application Form online.

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What is the Nigerian Youth Investment Fund all about?

The fund is dedicated to investing in the innovative ideas, skills & talents of Nigerian youths aimed at turning them into entrepreneurs, wealth creators and employers of labour, contributing to national development. …

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.

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