OPEN MENUCLOSE MENU
  • Home
  • NYIF
  • Federal Jobs in Nigeria
  • NYIF News
  • Npower News
  • NASIMS
  • Survival Fund
  • Nigerian Army
  • Nigeria Airforce

Voice of Nigeria

- VON

Why NIRSAL / CBN is not approving your COVID-19 loan

February 14, 2022 By Amitverain Leave a Comment

WhatsApp

Why NIRSAL / CBN is not approving your COVID-19 loan

Many Nigerians are in the dark as to why their Nigerian Youth Investment Fund (NYIF) loan was not approved by NIRSAL / CBN. Some people are also beginning to think that loans are only available to Nigerians with powerful “godfathers”.

To clear the air of such perceptions, the Federal Ministry of Youth and Sports Development disclosed the reasons for non-approval of loans of some applicants.

Below are the reasons some applicants were not pre-qualified for loan disbursement:

  • Applicant did not provide valid or correct phone number for communications on further steps in the loan application.
  • Applicant has an existing AGSMEIS or COVID-19 Loan.
  • Applicant is over 35 years old, which puts them beyond the age bracket for youths.
  • Applicant has a poor credit rating or currently has a non-performing loan.
  • Applicant failed to provide a valid BVN.
  • Applicant provided incomplete or incorrect BVN.

What you should know about NYIF

NYIF, run by the Ministry of Youth and Sports Development, has disbursed approximately N1.63 billion in loans to 5,200 youth.

This is revealed in the latest update provided to the Ministry by NIRSAL Microfinance Bank (NMFB), which disburses loans. The update also showed that it was ready to distribute to another batch of 25,000 youth as soon as their loan applications were approved.

Nirsal News

WhatsApp

Related

FREE REGISTRATION

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

Search Jobs in Nigeria

Recent Posts

  • FG Launched NELEX Portal for New Jobs – Register Now @ www.nelexnigeria.com
  • NPC Recruitment Updates
  • Npower Batch C2: Physical Verification Exercise Extended, Requirements etc.
  • NPC Recruitment Portal 2022 Adhoc Staff (Apply Here)
  • 27 Tips for Buying Your First Home So You Don’t Choose The Wrong
  • Nigeria Jubilee Fellowship Programme (NJFP) Latest Updates
  • NPC E-Recruitment Training And Bank Account Submission – MGT
  • Npower News: CBN NEXIT Loan Disbursement
  • How to ensure you get paid by NPower
  • Npower New Salary Structure 2022

Popular Articles

  • Top 10 Cheapest Countries to Study Abroad
  • 40+ List of Visa Free Countries – Travel Abroad Without Having Visa
  • Canada Visa Lottery
  • Holland Visa Lottery
  • Australia Visa Lottery
  • United Kingdom Visa Lottery
  • US Green Card An A-Z Guide
Copyright © 2020 Voice of Nigeria. All Rights Reserved
Contact   About  Disclaimer  Privacy Policy