CBN Approves Payment Date for NYIF Successful Applicants (N75 billion)

CBN Approves Payment Date for NYIF Successful Applicants (N75 billion): The Federal Government has approved payment date for applicants of N75 billion Nigerian Youths Investment Fund (NYIF).

NYIF was established last month by the Federal Government in collaboration with Central Bank of Nigeria(CBN) to funding and supporting youths in their businesses. NYIF is designed to reduce unemployment rate by creating more jobs opportunities for unemployed Nigerian youths.

The money will be disbursed through different channels including Micro Finance Bank, approved by Bank Of Industry(BOI) and Central Bank Of Nigeria(CBN). According to the statement by the Bank Financial Development Department;

“The disbursement will be made immediately after proper approval by the Central Bank Of Nigeria and NISRAL Micro finance bank BEFORE the END of this YEAR.

And it will continue till 2023 with N25 billion each year, Which will be only available to youths under the age of 18-35years”.

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