Nigeria Youth Investment Fund

In line with the processing of more than three million applications received so far, the Nigeria Youth Investment Fund (NYIF) has completed its pilot loan disbursement of a total of N165.7m to 239 beneficiaries.

The funds have been approved by the Federal Executive Council on 22 July 2020 and are being implemented in partnership with the Central Bank of Nigeria and the Ministry of Finance, Budget and Planning.

It is disbursed by the Nigeria Incentive-Based Risk Sharing System for Agricultural Loan Microfinance Bank.

The statement issued on Tuesday by the Special Assistant (Media) to the Minister of Youth and Sports Development, John Joshua-Akanji, stated that 3,120,107 people had registered for the NYIF Pre-Assessment/Training application.

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“Of the about 1000 processed as part of the pilot disbursement, a total of 94 ere disqualified from the NYIF loan after training as a result of existing COVID-19 or AGSMEIS loan that they have benefited from”, Joshua-Akanji said.

In line with the processing of over three million applications received so far, the Nigeria Youth Investment Fund, NYIF of the Federal Government has completed its pilot disbursement of loans totaling N165.7m to 239 beneficiaries.

The funds were approved by the Federal Executive Council on July 22, 2020, and is being implemented in partnership with the Central Bank of Nigeria and the Ministry of Finance, Budget and Planning.

It is disbursed through the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending Microfinance Bank.

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A statement issued on Tuesday by the Special Assistant (Media) to the Minister of Youth and Sports Development, John Joshua-Akanji, said that according to the application data, 3,120,107 people had registered for the NYIF Pre-Assessment/Training.

“Of the about 1000 processed as part of the pilot disbursement, a total of 94 ere disqualified from the NYIF loan after training as a result of existing COVID-19 or AGSMEIS loan that they have benefited from”, Joshua-Akanji said.

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