Several Nigerians appear to be in the dark over why their Nigeria Youth Investment Fund (NYIF) loans were not approved by NIRSAL/CBN. Some people are even beginning to think that the loans are only available to Nigerians with powerful “godfathers.”
To clear the air on such an assumption, the Federal Ministry of Youth and Sports Development disclosed the reasons some applicants’ loans might not be approved.
Below are the reasons some applicants were not pre-qualified for loan disbursement:
- Applicant did not provide valid or correct phone number for communications on further steps in the loan application.
- Applicant has an existing AGSMEIS or COVID-19 Loan.
- Applicant is over 35 years old, which puts them beyond the age bracket for youths.
- Applicant has a poor credit rating or currently has a non-performing loan.
- Applicant failed to provide a valid BVN.
- Applicant provided incomplete or incorrect BVN.
READ: How to know if your NIRSAL COVID-19 loan is approved
What you should know about NYIF
NYIF, which is operated by the Ministry of Youth and Sports Development, has disbursed loans to 5,200 youth amounting to about N1.63 billion.
This was revealed in the latest update provided to the Ministry by the NIRSAL Micro Finance Bank (NMFB), which disburses the loans. The update also showed that it was prepared to disburse to another batch of 25,000 youth as soon as their loan applications were approved.
In a statement issued by the Ministry and seen by Nairametrics, it stated, “Total eligible applications approved stood at 6054 out of which the 5,200 disbursements were made, leaving the number of those that have been approved but yet to get disbursement, at 854. The number of unqualified applicants for the batch stood at 721.
READ: FG explains why the loan for youth investment fund is limited to N300,000
An advisory from the Ministry revealed that some applications were turned down because the applicants did not provide valid information as listed above.
The Ministry wishes to further remind beneficiaries and applicants that the monies disbursed by the Nigeria Youth Investment Fund (NYIF) to the youth are not grants, but repayable loans.”
Meanwhile, another batch of 25,000 youth has been pre-qualified for training ahead of final clearance for disbursement, with the Ministry disclosing that it was in consultations with other partners to expand the loan disbursement platform so as to fast-track access to the funds.
READ: CBN discloses eligible businesses, those ineligible to apply for N75 billion Youth Investment Fund
Only N3 billion has been provided by the Central Bank of Nigeria (CBN) out of the N12.5 billion approved for the first tranche of the NYIF. So far, only 54.6 % of the N3 billion has been disbursed.
About 25,000 are lined up for approval, training and eventual disbursement.
Dear sir, still yet sir just we are waiting pls consider me i’m in situation since am in it thanks
Dear Sir,I have received any thing since this covic pandemic started.please I plead with you help us
Please when will they disburse the loan to the remaining applicant.
So the older ones in the society should go and die in poverty, thank God man is not God. Yet government will come to the supposed above 35 years of age for tax or revenue
Please Dear Mr sr send me vivid 19 I have a money we are finally national dpoloma place my bvn 2246279251
Please delete BVN
Why covc19 that cannot approved money
why are you disclosing your bvn
Why nirsl no to approve every one, we approve those there have gad father’s only.
Pls sir I ve not gotten any thing from covid – 19 disbursement.pls they shld try nd do something abt it.
aishatu what
Please help me and approved
I registered since February this year 2021,my name appears in shortlisted but when I try to log in my bvn to check approved amount,nothing show’pls help.
Goodmorning sir,pls I applied for the covid 19 household targeted facility sometimes in march,and I have since been approved on 4th of june and up till now I have not gotten the funds in my account. Pls what should I do?
Sir, what is hope of some of us that applied for Covid~19 loan this year (batch B),since some have not received any approval?
Sir always that not e’xerd
SIR PLEASE DO I GO ABOUT THE LOAN AM RELLY IN NEED OF IT
Good morning sir, please let the government do something to most of Us that are into Agriculture, this is our own season, most of us don’t have Capital to finance our farm activities. How I wish I can be given the loan now it will go a long way to help me in my farm activities, I have over 20 hectares of farm land but no money to finance it. My is yet to be approved, and time is going. Please government should help us look to it. Thanks
I went thru all previous/above comments…
Non of them even worth reading talkles of understanding.
And the most pathetic part of it is that all of you claimed to be youth/graduate.
.
.
. You guys should kindly work on your message then come back here to come buy
. . . and you wrote these lines
? Am in shock. Thank God we are not in dry season their English could spark a fire outbreak ??
Please am a students I received the mail concerns the loan but when I put my bvn they said not valid. Please help me out I really need the loan, thanks
If covid19 loan is not meant for persons over the age of 35, where do they fall in ? Or are they not Nigerians?
Sir, i recieved one milion but the never enter my account how going to do.
Hi good morning, I applied for an household and I got approved since Feb I got a message with a link to update my bank account which I did and since then I got nothing up till date. I keep waiting and waiting but nothing comes up. I tried calling the NIRSAL contact to know what is going on but no response from them
When would Nigerian government agency will stop playing planks on the citizens of this country.
Sir,have registered but I made a mistake with my Mail,Please sir,what can I do to rectify it?
I applied since June 6 2020 nothing was found
I av tried applying for the loan but the page isn’t opening.
All these reasons why the loan wasn’t approved doesn’t make sense. If it genuine without sentiments ,then alot should be considered since it’s for the benefits of all
Anyway, we dey enjoy us SBA loan hence our government Fail us
I keep try to benefit this CBN empowerment program of covid-19 loan two time but keep telling my account does not exist this thing make me hopeless what shall I do next to get its benefit sir thank you so
Sir. With due respect, how old is the minister of youths? Why is this loan limited to 35yrs old? When we all know that a 40yrs old man is a youth in Nigeria.
Thanks you for that question
ADAMU Mohammed
Adamu walu gana
I apply covid19 loan since not yet approved why
Dear sir/ma
I want to sincerely thank you people by making sure the dying Nigerians survive from this covic 19 pandemic.
I want to also plead on my loan been applied since but not yet approved, also covic 19 loan too. I will be glad if one of them is approved and disburse to my account to burst my little business been affected. I know these two work together because it’s same NIRSAL/CBN that fund the two.
Hence, I am pleading with the admin to do something concerning my loan.
I was sent an email to login and participate an online class but due to network issue that opportunity slip out from my door. Then I went ahead and applied for the second time and it is at the verge of approving.
Therefore, administrators, I want you people to look into it and save my business from dying/collapsing, and also from this “man know man” syndrome.
Thanks and God bless you all.
Follow these mail i recieve mine own loan these email will help you get urs follow up the instructions they gave u
Cleopatraamanda1@gmail.com
I am also wondering, how I have not gotten any of the loans from the covid-19 loan!
The ones that provide correct phone number nko
Dear Sir, mine has been approved but I had a problem with my account details. So please send me the link via email to add my new account details..
Mine has been approved but I have a problem with my account details. My account number was changed when I went for account upgrade. So please send me the link to rectify my account details again.
send your BVN and account details and the account update message to 08120660420
No one should send or put up his/her BVN. Don’t!!!!
I checked mine and it was approved but also said that I rejected it
Didn’t reject it.
Please what do I do to have my loan back
I apply no email was sent to me
I WAS NOT APPROVED FG HELP YOUTH TO PROCREAT LIFES.
My covid19 loan have been approved for over 2months now…. I’ve done the necessary things am supposed to do…. yet still remains an expectant of the credit alert of the approved… It’s really giving me head ache
Please sir since covid 19 l lost some money in my business am totally with nothing l need assistance .God bless you. Thanks
A Wasted generation, I will call mine. We won’t get a decent employment because of our age that’s above 35, yet we won’t get loan to establish a business for the same reason. I’m in my late 30s, graduate with close to 15 years experience. I’ve been applying for job with nearly all government parastaters, at every level (federal, state and local government) all government programme(youwin:where I passed the first stage in 2012, etc) for unknown reasons, I’ve always been disqualified. Now, it’s my age you are using to again set me aside. At least if you’ll let go where I’ll be useful with my proficiency in French language and advanced knowledge in science. A wasted generation, I hope not to be!
One thing I want to know is : Does the Nigeria Government so deliberately wish to kill off older people in the land by ignorance? These youths are under the care of either parents, relations, etc who are presumably older than the youths. Most of these caretakers are providing for the youths just through the skin of their teeth. Even a large number of the above 35yrs age brackets hopelessly moved into the unfortunate axis struggling, weeping and still expecting! These youths lean on people while they wait. What help do their helpers get to help them survive the waiting? What willl those that have waited into the prohibited age range do? Of course, when the old helpers can no longer cope and no jobs, no business, just expect massive enrolment into the beckoning Army Of UNKNOWN G/M*N
All loans for Youth under 35 years of age, does it mean that older people are expected to seek job under their children?
Why not give loans to more experienced people and let us employ the youth?
Most young people are not ready for business, they need paid jobs.
I having waiting since fist Bach up to now nothing be done.
Good evening sir I have never received anything from FG since my life both loan or stipend plz sir I will be glad if my name is shortlisted this time at list am a Nigerian
Sir according to what you stated here I think is not all truth because person like I never benefited anything from Nigeria government my BVN is correct everything provided by me is authentic yet my loan is not approved
Business
Sir pls help
My loan ws approved bt nt disburse
Sir I having waiting first 2020 &2021 up to noun not approved I need your helping sir
please am 37yrs old can you connect me to any micro finance bank that can give me loan for my business?
We are greaful to the federal government for the support is giving to Nigerian youths and it’s citizens at large. Though I am not a beneficiary
i want to appriciate FG for the loan giving to so many nigerian so far though i have not seen it since i apply for it please i need help
You people will not seem to amaze us in this country. If you say why an applicant of the NYIF scheme was not approved reasons which you stated that, he/she is already on the scheme of the AGSMEIS loan I could understand, so then, if you have a workable data as you claim to in order to wade of people who are in another scheme so as for them not to be on two sides why is it that you can’t fulfill what you should to such persons on the other scheme but, no that’s not the case for you guys it’s a shame all is just a fool hardy’s game you people are playing. Talking about the AGSMEIS you came up with upgrading the portal and all what not and, thereby adding some things which were not on the profile of beneficiaries one of which is an assessment test. Now, it is made up of twenty (20) questions for a time base of twenty (20) at the end of the assessment the normal thing to do if you guys were as transparent as you claim is it not to show the individual his/her score but, the page will just show processing and there after say failed and ask the beneficiary to reapply back in six (6) months time after all the long wait in stress na God go judge una.
I haven’t gotten any mail concerning the covid19 loan
The last time i check there is no age limit between youths and elders in Nigeria why now? Nigeria our country
I think the whole process has been hijacked by the people in cbn already. it’s now on slot basis. they give you the loan and you give them a percentage out of it. ?
Tell your boss na
I applied covid 19 loan since April 2020,but up to now am not seen the approved my covid 19 loan, and the loan is very important to me because i will use it to improve my business, if you accept complaint here is my phone number 07033233097
My name is aminu aliyu dawaki i applied covid19 since april 2020 but up to now i ma not seen anything please i really need this covid19 because of my business lf my comment accept here is my number 09021114467
Please to whom it may concern, I applied for this loan, but up till now I have not received any notification. I need ur help please, because I provided authentic information! Mg contact is 08069237667
Sir please I applied for the Loan since last year and I haven’t been approved till today or gotten any information till today…please sir I need this covid 19 loan for my education and my family please…
Good morning Sir, and to everyone. Please Sir since 21th of June 2021 my dashboard keeps saying your loan has not been approved and i was ask to update my bank account details which i have done till date nothing has happened and is really making me feel bad what should i do because i have tried calling (NIRSAL) but no response from them and i have gone to there office to get information from them i couldn’t find out anything. Please Sir let the management do something about it thanks i rest my case.
Sir my Covid-19 loan is not approval why please help me because a want to develop my business
Sir I received a text message, stating that I have been prequalify for the loan that complete the process of which did but until now no response Sir
Sir I received an sms stating that I was prequalify for the loan, that I should complete the process of which I did, but until now they have been no response Sir.
Pls sir approved my loan
Farmer
Hello nyif covid 19 loan AGMIES Registretion approvel my 08076986055
Pls sir we are in need of the loan and we register for more than 6 month,no mail no message that shows they approve our loan,pls sir see us through we are in need of it pls my regards,thanks.
Thanks you
i haven’t benefit from this government atall
All this reasons they are mentioned aren’t acceptable because since the beginning of this program if you have problem of BVN,age,it would not proceed, so please You don’t have a reason,,so please disburse us our money or finally we’ll attach you with efcc for investigation because we can’t fall our over looking yours, thanks
I applied since last year till now, I’ve not heard anything.. please, help me please
Sir please send me my moony on thes acc: 3118290044 yahaya mustapha firstbank
Please sir I have registered for over five 5 months ago but yet to approve the loan sir I need of that loan in order to expend and continue my business
U talked abt youth abv 35years of age are not eligible,pls is the minister of youth below 35years to be eligible for youths matters,are the youth abv 35years not Nigerians or are they not affected by the covid19 pandemic also,why the discrimination in Nigeria system abt some age group of people,in the work force u are not given job becos u are abv 30,in access loan u cant cos u are abv 35,then a system should be created for people of this age to able to work or access loan also.
Sir hope Federal government Will help
Sir hope Federal government Will help the people
Abeg you to aprove me my name is saidu bello dahiru
Sir,i apply for the loan since but they did not approve my own yet.
this govt is doing right thing bcos it was provide field for a youth in order to be self relience.thanks
Sir please help me approved my own
Please we are waiting for you
Sorry, Your loan has not been approved. Please check back later
Sorry, Your loan has not been approved. Please check back later….. What is the meaning of this I no understand please share more light to me on this..
how approved the country
covic19 loan becouse covic19 loose product and money becouse how reduce poor yet this loan thank you
wow nirsal I am waiting for you
Abubakar
I need lon
Poultry
please i am a graduate. seeking for this covid 19 loan to start a bussiness. so that i can take care myself and my family. pls
Sir please hell me
I need load
let u people do something for us now
there’s nothing that will come, to apply that I never did, we never know which turn will come, that someone will enjoy even ons, I follow all the procedure of Nyif but I’m not shortlisted my name is not inside, but others, oh our country Nigeria, may God change u
Please help me sir approved my own
Cabital buenss of my company handcraft construction company limited
PLC sir help us to get civid 19 loand sir God can help you sir
I need a loan to act up to business me the government to look into it thank
Please help me sir approved my own
I used myp firstbank account during registration while I used my uba account when they ask me to rewrite my account details correctly pls sir hope there is no problem
DEAR SIR ICOMPLEAT ALL MY NYIF INFORMATION BUT MY NAME WAS NOT ON APPROVD WHY SIR PLDASE HEALP ME SIR
Any time I checks I discovered my BVN is not exist, so sir what makes it to be like that? and i need your help to be among the beneficiaries, thank you.
Allah help os