Minister: We ask shortlisted applicants to respond immediately.
NYIF loan application portal – FMYSD asks shortlisted applicants to respond promptly. I remember a few days ago We’ve shared an update stating that FMYSD is set to repay NYIF loans to 25,000 beneficiaries, with the department providing new updates on the matter.
The Federal Ministry of Youth Development and Sports is offering a new round of Nigerian Youth Investment Fund (NYIF) distribution to young beneficiaries whose applications are successful.
Less than 14% of newly selected candidates out of more than 25,000 successful candidates who are expected to receive a loan responded to an email. letters confirming agreement to obtain a soft loan.
Instructions for receiving funds are provided in the email you send. Email replies the frequency of emails was quite low. However, other respondents received funds in the bank accounts indicated in their PF1.
Selected candidates must respond to the communication to complete the distribution process. Those who do not respond risk losing the opportunity.
The Nigerian Youth Investment Fund (NYIF) is being distributed to young people who have expressed business needs in the range of N250,000 (two hundred and fifty thousand naira) to N3m (three million naira) depending on the scale of the business.
About 6,000 young people benefited from the first set of benefits in 2020, and the names of the beneficiaries were made public. In the second batch, 4,375 people responded to loan offer notifications and received funding.
NYIF guidelines and procedures remain the same.