Nigeria Youth Investment Fund (NYIF) Loan Second Batch Disbursement Begins in October 2021.
NYIF Loan Disbursement Date: The federal government, through the Central Bank of Nigeria (CBN) and Nirsal Microfinance Bank are to commence the second round of Nigeria Youth Investment Fund (NYIF) loan disbursement from October 2021.
NYIF Loan Disbursement Date
NYIF Loan Disbursement Date: The Nirsal Microfinance Bank (NMFB) that is in charge of the NYIF loan disbursement had earlier informed applicants of NYIF loan to verify their BVN by sending text message to shortlisted candidates. As part of the disbursement processes, two weeks ago, pre-qualification messages were sent to most of the applicants.
The Federal Government (FG), on Tuesday, said another batch of 10,000 youth beneficiaries have been shortlisted for the Nigeria Youth Investment Fund(NYIF).
It said this is in addition to the initial pilot phase where 5,285 beneficiaries were shortlisted.
This was contained in a statement issued by Kola Daniel, media aide to the Minister of Youths and Sports Development, Mr Sunday Dare.
It stated that the beneficiaries would be trained after which they will be approved for funds disbursement under the NYIF scheme.
The statement quoted the minister as saying that the beneficiaries emerged out of the ongoing screening of over three million applicants for the loan.
“With the successful completion of this pilot phase, NIRSAL has cleared names of another ten thousand (10,000) for training and subsequent loan approval and disbursement. Loans are in the range of two hundred and fifty thousand (N250,000) to three million naira(N3,000,000) for now.
“These names are available on the FMYSD website and NOYA website. Checks done include Age, BVN whether or not the individual has an existing government loan or has received covid 19 business payments.
“All approved applicants will undergo training to ensure efficient use of the loan, therefore, increasing the yield and growth the loan can deliver to the intended business owner,” it stated.
This is to inform applicants that there is no need for panic if your loan status shows processing. It is because you have not been invited for training, your loan can only be approved after your zoom training, it’s an online training that lasts from few minutes to an hour.
Also note that Mindthe_gap training is different from NYIF training, Mindthe_gap training is held on YouTube, the training for NYIF applicants is held on zoom, you are to patiently wait until you are invited via your email for training
- NYIF Shortlisted Candidates
- N-Power Salary Structure
- Npower Successful Shortlisted Candidates
- NEXIT Portal Login | Npower CBN Empowerment Portal for Batch A.
It’s possible not be trained and still be given the loan. It all depends on the kind of activities that have been going on around your Bank Verification Number (BVN).
You applied through your BVN, and your BVN has been verified, therefore, the information the management of this NYIF extract from your BVN that will determine what happens to your application and the loan.
NYIF Disbursement Date Process
NYIF Disbursement Begins: In cooperation with the Central Bank of Nigeria (CBN) and the Nirsal microfinance bank, the federal government began approving NYIF loans to applicants once they were partially completed.
The Nigerian Youth Investment Fund (NYIF), set up last year by the federal government to support young Nigerian entrepreneurs looking to start their own businesses, was set up to approve loans for successful candidates.
Applicants who have successfully completed online entrepreneurship training should take the following steps to check the status of their loan:
- Applicants are to Visit the NYIF portal CLICK HERE
- Provide your login details in the NYIF dashboard(Username and Password).
- Then Click on Check Loan Status.
- A diaglog box will appear showing your loan status if approved or still pending.
NYIF Loan Second Batch Disbursement
There are those who were selected and trained in the first Batch of NYIF loan disbursement, which took place last year (2020), but they are yet to get the loan. Reason is because investigation has not been concluded about their BVN.
It is important to note that some account number can not take more than N100,000 per credit. So, kindly confirm with your bank the volume of credit your account can accept for a single transaction.
If you got a verification mail, but you are having issues with verifying the email, be calm, it is never going to be too late. The system has already captured you and you are qualify for the loan provided you got the pre-qualify SMS.
If you have any questions concerning NYIF Loan Disbursement Date, please feel free to use the comment box below and ask us your question. We will be very pleased to answer you.
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