nyif.nmfb.com.ng portal 2022/2023 NYIF Application Form|Portal Login|official site and news today|how to APPLY
How do I apply for Nigerian youth investment fund NYIF? Is the Nigerian Youth Investment Fund real? These are some of the questions Nigerians has been asking ever since this scheme was launched.
The Government of Nigeria is now helping youth access to loan that will help them fund their businesses.
Have you heard about the Nigeria Youth Investment Fund (NYIF)? Let’s show you how to apply for the N75 billion Nigeria Youth Investment Fund (NYIF) through the application portal at nyif.nmfb.com.ng
Who provided the NYIF fund
Please be inform that this programme is funded by Nigerian Apex Bank ; the Central Bank of Nigeria (CBN). while the programme is under the supervision of the Federal Ministry of Youth and Sports Development (FMYSD).
NYIF Loan range
Remember that 75 billion was set aside to kickstart this programme. If you are applying as a non-registered businesses and also as an individual you are entitled to access 250 thousands naira (two hundred and fifty thousand naira). Please note that this business should be owned by a Youth which is the minimum criteria.
funding is further increase if your business is registered with the corporate affairs commission. In fact you are now entitled to access up to 3 million Naira (three million Naira).
NYIF Loan repayment period
due to the fact that the loan is coming from the Government, the repayment period should not scare you off from applying. When you get this loan you can repay any time you want but it won’t exceed 5 years.
How much is the interest rate?
Usually Loan comes with high interest rate , so also is the Nigeria Youth Investment Fund (NYIF) but this time the loan is 5% and must be paid in every year within the 5 years you are to run your business with the loan.
How will the loan be disbursed?
The loan will be disburse through approved channels like through CBN approved Micro Credit Organisations located in different states of Nigeria.
Other channels are Fintech Organisations and Venture Capital. Remember that all this institution are recognised by CBN.
Nigeria Youth Investment Fund (NYIF) Eligibility:
- Nigeria Youth Investment Fund (NYIF) is a programme for the youth, not for the elderly and children. Required age falls between 18 to 35.
- The federal Government wouldn’t like to empower bandits, criminals hence applicant must have a clean record from all the security agencies, law Court.
- Applicant will have to present a local government identification letter.
- Targeted businesses should be owned by a Nigerian and located in Nigeria.
- Businesses that will be finance must be registered with the Corporate Affairs Commission.
- Nigeria Youth Investment Fund applicant must possess Bank verification number.
How to Apply for the Nigeria Youth Investment Fund (NYIF)
- The registration link is here : https://nyif.nmfb.com.ng/Applicants/New
- Here is the portal nyif.nmfb.com.ng
- Access the application form and input your personal details like
- First Name
- Middle Name
- Last Name (Surname)
- The next step is for you to choose the training center that is closer to you.
- Then you have to let them know the source from where you got the information about the scheme.
- Finally accept the terms and conditions before submitting your form.