BREAKING NEWS

N75 Billion Nigeria Youth Investment Fund (NYIF) 2020 Registration Is Ongoing – Apply Here


Nigerian Youth Investment Fund (NYIF) is a government initiative created to support youths in business financially. 


The Nigerian youth investment fund application portal is now open for the Nigerian Youth to submit their applications. 


The Nigeria youth investment fund (nyif) application portal opened on the 13th of October 2020 and it’s for Nigerian Youths from the age of 18- 35 years that met the requirements.


The registration portal is now open via NYIF


Aim and Benefits of Nigeria Youth Investment Fund


NYIF fund aims to reach 500,000 youth annually between 2020 and 2023. 


Each fund approval will range from N250, 000 to N50, 000,000, with a spread across group applications, individual applications, working capital loans set at 1 year and term loans set at 3 years with a single-digit interest rate of 5%.


GLOBAL LIMIT: N12.5 billion

FACILITY TYPE: Term Loan

SINGLE OBLIGOR LIMIT: Individual / Non registered Business: Up to #250.000.00 | Registered Businesses( Business Name, Limited liability/ Corporative Societies / Commodities Associations): Up to N3,000.000.00.

LOAN TENOR: Maximum of 5 years

MORATORIUM: Maximum of 12 months

Repayment Structure: Repayment will be on an installment basis inline with businesses and NMFB evaluation.


Requirements for Nigeria Youth Investment Fund NYIF Registration Form.


FORMAL BUSINESS ENTERPRISES- Youth Owned Enterprises


1. Duly registered formal business enterprises (Youth owned enterprises) with the Corporate Affairs Commission (CAC)


2. Provision of Business plan Summary / Or Completed Questionnaire


3. Evidence of Training Certificate from approved FMYSD EDIs


4. Valid Bank Verification Number (BVNs) of Director


5. Provision of Tax Identification Number (TIN)


INFORMAL BUSINESS ENTERPRISES (INDIVIDUAL & SOLE PROPRIETORS)


1. Must be a Nigerian youth within the age bracket of 18 to 35yrs


2. Have an operational business /enterprise domiciled In Nigeria (Those with unregistered business can also apply)


3. Has not been convicted of any financial clime in the last 10 years


4. Valid Bank Verification Number (BVN)


5. Evidence of Local Government Indigene Certificate


ELIGIBILITY


1. Beneficiaries of NMFB loans (such as Targeted Credit Facility TCF) and Agribusiness/Small and Medium Enterprises Investment Scheme (AGSMEIS) that remain unpaid are not eligible to apply.


2. Beneficiaries of other Government loan schemes that remain unpaid are not eligible to apply.


Documents Required for NYIF Application Form Registration.


1. Training Certificate from approved FMYSD EDIs


2. Evidence of registration with Corporate Affairs Commission (Certificate of Incorporation and Form CAC 2A


3. Valid Bank Verification Number (BVN) for Individuals and Directors


4. Evidence of Local Government Indigene certificate


5. Duly completed Application form


6. A copy of the Birth Certificate


7. Valid Tax Identification Number (TIN)


8. A Summary Business plan / Questionnaire


9. Valid means of Identification (Voter’s Card. Drivers License. National ID/NIN Slip 3. International passport)


10. Automated two years of bank statement analysis.


How to Apply for the Nigerian Youth Investment Fund.


Interested and qualified? Go to the Federal Ministry of Youth and Sports Development (FMYSD) on NYIF


NYIF Application Process – Step By Step Guide


Here is a step by step guide on how you can successfully apply for the ongoing Nigeria Youth Investment Fund (NYIF)


Step 1: Visit NYIF Application Portal for the Application Form


     CLICK HERE to open the NYIF application portal. 


Once the NYIF portal loads, you will see the application form.


Step 2: Enter Your Personal Information


Enter the following personal information


First Name

Middle Name

Last Name (Surname)

BVN

When you are done filling the above, click the “Next” button


Step 3 – Chose Preferred Training Center


Click on the select box to choose the training center of your choice. The following training center options are available;


National Youth Development Center (North-Central)

National Youth Development Center (North-West)

National Youth Development Center (North-East)

National Youth Development Center (South-East)

National Youth Development Center (South-South)

National Youth Development Center (South-West)

Federal Ministry of Youth Sports and Development


Step 4: Select How You Heard About NYIF


The 4th step is a select box asking you how you knew about NYIF. The following options are available


CBN

NMFB Staff

Facebook

Linkedin

SMS

Google Ads

Facebook


Step 5: Accept NYIF Terms of Service


The 5th step is a check button requesting you to confirm that the information you provided is true and correct. Click on the button to accept


Step 6: Submit Your Application


Click on the submit button to finally finish your application.


Note


No training fees required

Online Training only

Training duration is 5days




The Nigeria Youth Investment Fund registration portal is NYIF.


The youth investment fund application form is found on the page when you open the link above. The youth investment fund portal has no closing date yet. 

             REGISTER NOW (CLICK HERE)


READ MORE. CLICK HERE... 2020 International Scholarship For Nigerian Students (Registration & Eligibility)

A MUST TO READ!

 For your Sponsored post, Adverts, event coverage, campaign, promotions and many others are all available at a friendly rate.

     WhatsApp: 📲08072633727 [email protected]



No comments

After Dropping your comment, Wait for few minutes, your comments will appear below!!!