Have you applied for the Nigerian Youth Investment Fund (NYIF) ? Have you been trained to get access to the fund? Let’s walk you through.
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.
How to Get Trained – Nigeria Youth Investment Fund (NYIF)
STEP 1
Get Trained – Applicants to attend a compulsory entrepreneurship training with an approved Federal Ministry of Youth & Sports Development (FMYSD) EDIs.
Visit the nearest approved Federal Ministry of Youth & Sport Development (FMYSD) Entrepreneurship Development Institute (EDIs) or www.youthandsport.gov.ng
Can any NIRSAL MFB approve EDIs train applicants for this programme?
No, the NIRSAL approved Entrepreneurship Development Institute EDIs are not eligible to train any applicants under this scheme, except they are listed by the FMYSD.
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 the appropriate decision and forward recommended applications to CBN for final approval.
Disbursement
CBN reviews applications and gives final approval for disbursement to NMFB
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