The Federal Ministry of Youths and Sports Development is appealing to Nigerian youths who applied for loans under the Nigeria Youth Investment Fund (NYIF) to come for disbursement.
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According to the Ministry, less than 14% of the newly shortlisted applicants from the 25,000 successful candidates, who are expected to be part of the loan, have responded to emails confirming their approval to receive the soft loan.
While noting that instructions on how to access the funds are contained in the email sent, the Ministry expressed worry that the rate of response to the emails has been “quite low.” It added that those that responded have received the funds into their PFI designated bank accounts.
FEDERAL MINISTRY OF YOUTH AND SPORTS DEVELOPMENT
Press Release #NYIF Loan: Ministry Urges Shortlisted Applicants to Respond Promptly.
The Federal Ministry of Youth and Sports Development is currently delivering a fresh round of disbursements of the … pic.twitter.com/r8hN1TyoTM
— Federal Ministry of Youth Dev't, Nigeria (@NigeriaFMYS) May 10, 2022
What the Ministry is saying
- The Ministry in a statement signed by its Director, Press & Public Relations, Mohammed Manga, said: “The Nigerian Youth Investment Fund (NYIF) is being disbursed to the youth who have expressed business needs within a range of N250,000 to N3 million depending on the scale of the business and its evaluation.
- “Shortlisted candidates must respond to communication in order to conclude the disbursement process. Those who fail to respond risk forfeiting this opportunity.
- “About 6,000 youth benefitted from the first set of disbursements in 2020 and the names of the beneficiaries have since been made public.
- While in the second batch 4,375 have so far responded to their loan offer messages and received their funds.”
What you should know
- The Federal Ministry of Youth and Sports Development (FMYSD) and the Central Bank of Nigeria launched the NYIF in 2020 which aims to financially empower Nigerian youth to generate at least 500,000 jobs between 2020 and 2023. It was funded with an initial take-off seed capital of N12.5 billion
- The major objectives of the fund are to address the fragmentation of youth initiatives that prevent assessment of impact and to provide the Nigerian youth with investment inputs required to build successful businesses that can become sustainable employers of labour and contributors to Nigeria’s development.
what are they even saying? Most of us were shortlisted and trained in November last year, and up till this very moment the ministry has not sent us any approval mail. We are even tired of waiting.
Pls those of us who got in through the Next titan Organizers, what are we to do because we did not get any mail but all details that were required of us we submitted to the Next titan Organizers
even me, i was called, and shared my bvn and other details needed, up till now nothing.
Can one who is interested apply for the loan again?
If yes which links please , so that one doesn’t fall victim.
Thanks
Several beneficiaries have tried to fill and submit the offer letter as required, but the mail address given for submission seems to be too full to receive any more mails from us ( beneficiaries)
Continue trying to send it, it will go.
That’s how my own was doing. I have received my fund.
I applied for the loan nirsal and covid till date have not gotton anything no response nothing at all
Oloye john
I applied for Nyif but i didn’t receive message from my email
Of course! I tried to reach them.with a reply of.acceptance but all proved abortive.
No be una carry money give police?
I have received message since last year June 2021 but I don’t where I will collect the money before my phone lost,pls kindly assist me how I can get the money.send by lpindola Temitope Ayodeji Thanks very much sir/ma
I have responded and even gone to LAPO office to fill their forms, but I’ve not gotten any feedback from LAPO till now. Mine is Rivers state
Have completed the whole process for 2 weeks now no show no money no message from them nyif or npf….
Good evening my name is baba gana modu from borno state i beg entire nyif/npf micro finance to pay the money on time so govt will put smile on youth faces and shun the step of offer letter b/c it delaying the process of payment payment.