Here’s to inform the general public of these update about NYIF Online Application. See five things you should know while applying for the Nigeria Youth Investment Fund 2020.
At times people apply for loans and they don’t get it because they were not well grounded with the right information on how to successfully apply for it.
However, before you apply for the ongoing NYIF it’s will be nice you know the five things which will guide you to successfully apply and be among those that will get this almost free loan.
Note: the main purpose of this post is to give our guidelines on how to access NYIF Online Application Update and the loan requirements for FREE. Job Updated do not have influence on the selection process.
About NYIF Initiative
The Nigerian Youth Investment Fund (NYIF) was set up as an initiative of the Federal Ministry of Youth and Sports Development (FMYSD) and funded by the Central Bank of Nigeria (CBN) to invest in youth ideas to build sustainable businesses that can activate enterprise and increase job opportunities in Nigeria.
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.
Need more information about NYIF? >>Click here
Requirements for NYIF Online Application
Individuals / Non-registered Businesses
- Applicants must be Nigeria citizen
- Individual 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
- Entrepreneurship Training Certification from FMYSD Entrepreneurship Development Institutes (EDIs)
- Formal business enterprises (Youth owned enterprises), duly registered with the Corporate Affairs Commission (CAC)
- Business plan Summary or Completed Questionnaire
- Valid Bank Verification Number (BVNs) of Directors
- Provision of Tax Identification Number (TIN)
- Entrepreneurship Training Certification from FMYSD EDIs.
NYIF Online Application Update
The five things you should know to successfully apply for the Nigeria Youth Investment Fund includes;
- Get Trained – Applicants to attend a compulsory entrepreneurship training with an approved Federal Ministry of Youth & Sports Development (FMYSD) EDIs
- Apply For Loan – Successfully trained prospective applicants proceed to NIRSAL Microfinance Bank (NMFB) portal to apply for the loan.
- Submit An Application – Eligible applicants submit applications successfully on NMFB’s portal.
- Approval – NMFB conducts loan assessment in line with Risk Assessment Criteria and programme guideline, make appropriate decision and forward recommended applications to CBN for final approval.
- Disbursement – CBN reviews applications and gives final approval for disbursement to NMFB.
However, if you wish to apply for the NYIF Online Application, click on the link below.
Additionally, if you need regular update on NYIF Online Application, kindly drop with us your email address on the comment box.
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