FMYSD Pre-Approved NYIF Loan Disbursement

FMYSD Pre-Approved More Youths For NYIF Loan Disbursement –

The Nigerian Youth Investment Fund (NYIF), administered by the Ministry of Youth and Sports Development, has lent loans to 5,200 young people of one thousand six hundred and twenty-nine million two hundred and twenty thousand Nairas. Nl, 629,220,000.00).

The information contained in the update was later provided to the Office by the NIRSAL Microfinance Bank (NMFB), which provided the loan, and indicated that it was planning to transfer to another 25,000 young people. party after their loan application was approved.

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The total number of eligible applications is 6054, of which 5200 have been paid and the number of approved but not yet paid applications is 854. The applicant is not eligible for the lot is 721.

An adviser to the Superintendent has reported that some applicants are ineligible to apply for a loan because the applicant did not provide the correct information or address directly to the loan application review notice.

The applicant has a current loan with AGSMEIS or COVID19 and that the applicant is over 35 years of age and therefore exceeds the age limit.

Another reason is that if the applicant does not have a bad credit or currently has incomplete loans, the applicant does not have a valid BVN and gives an incomplete or incorrect BVN.

Beneficiaries for Workers and Applicants for Nigerian Youth Investment Fund (NYIF) to repay loans to non-youth.

Another 25,000 parties, meanwhile, have been preparing for training before the final announcement by the media, which has announced that it has expanded its lending capacity in consultation with other parties. members to gain immediate access to the Fund.

The Central Bank of Nigeria (CBN) has only given N3 billion N12.5 billion for the initial security of N12.5 billion approved for the first tranche of NYIF. To date, 54.6% of N3 billion has been spent.

Approximately 25,000 were set up for approvals, training, and event interventions.