Most Nigerian youths seems not to understand why their Nigeria Youth investment Fund (NYIF) loans were not approved.
There are some reasons why this happened, and most times it might have been mistakes from your own end. The Federal Ministry of Youth and Sports Development stated why some applicants loans might not be approved.
This is why some applicants were not pre-qualified for loan disbursement:
1. The applicant did not provide a valid or correct telephone number to notify the follow-up of the loan application.
2. The applicant has an existing AGSMEIS or COVID-19 loan.
3. The applicant is over 35 years old and therefore does not belong to the youth age group.
4. The applicant has bad credit or is currently bad.
5. The applicant did not submit a valid BVN.
6. The applicant submitted an incomplete or incorrect BVN.
The Ministry’s memorandum shows that some applications were rejected because the applicants did not provide the correct information listed above, not the grants but the repayable loans.
Since the loan is being paid off, make sure you enter the correct details and check for errors when applying.
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