NYIF Applicants: Here are the reasons why some applicants are not receiving payment this month
The Nigerian Youth Investment Fund (NYIF) is a government-approved empowerment program developed by the federal government under His Excellency Muhammadu Buhari for young Nigerians in the country.
The program aims to support young Nigerian entrepreneurs whose businesses have gone bankrupt due to an unprecedented outbreak of the disease (coronavirus) by providing loans to all qualified applicants.
These are applicants who have applied to the program since last year but have not received funding.
However, some applicants have received funding and others are still on another list.
So today, in this article, I will share the possible reasons why some applicants do not get a NYIF loan despite their approval. Following a recent announcement by the management of the Nigerian Youth Investment Fund (NYIF) to all applicants for account renewal.
Some applicants have complained about why they were not notified of the account renewal.
The following are the reasons why some applicants do not receive money despite renewing their accounts:
1. Those who took advantage of the COVID-19 loan
This category of people will not be included in the final list. However, the COVID-19 Stimulus Scheme was also a program developed by the NIRSAL Microfinance Bank (NMFB) to help Nigerians during the COVID-19 outbreak.
2. Providing incorrect information when updating the account
Everyone is expected to provide reasonable information, such as phone number, email address, and home address, as this may result in disqualification.
3. Use another bank account number
Some applicants like to use their relatives ’account number when registering, which can result in disqualification. Applicants should therefore refrain from using local numbers.
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