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What is the meaning of nigeria youth investment fund?

Nigerian Youth Investment Fund NYIF is a government initiative created to boost the Nigerian economy through leverage and access to finance for youths. The fund hopes to serve as a catalyst to unleash the potential of the youth and enable many of them build businesses that will increase the employment rate.

Frequent question, 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.

Furthermore, 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.

Correspondingly, 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.

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You asked, what is the youth Investment Fund? The Youth Investment Fund Phase 1 (YIF Phase 1) spending objective is to improve the effectiveness of youth services in order to drive positive outcomes for young people such as improved health and wellbeing, equipping them with skills for work and life, and empowering them to be active members of their communities and …The Nigeria Youth Investment Fund (NYIF) loan is still ongoing as the Nigerian youths loan application has been approved. … Since it began, some of those who applied disclosed that their loan have been approved.

How do I register for Noya?

  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.

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 much will NYIF pay?

The NYIF aims to reach 500,000 youth annually between 2020 and 2023. Each fund approval will range from N250, 000 to N50, 000,000, with a spread across group applications, individual applications, working capital loans set at 1 year and term loans set at 3 years with single digit interest rate of 5%.

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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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 Nirsal microfinance?

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

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.

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 claim my NYIF loan?

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 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 …

How do I log into NYIF portal?

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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 do I accept a NYIF offer?

  1. Visit the following link; https://nyif.nmfb.com.ng.
  2. Login with your registered email and password.
  3. If your loan is approved click on the offer letter.
  4. Read the terms and conditions.
  5. Tick accepted and submit.
  6. Then wait for loan disbursement.

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.

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