NYIF Application Form Portal 2020 nyif.nmfb.com.ng | N75 Billion Youth Investment Fund: The Nigerian Youth Investment Fund (NYIF) Loan Application Portal is now open to all interested and qualified Nigerians.
You Access up to N3 Million Credit Facility Dedicated to investing in the innovative ideas, skills & talents of Nigerian youths aimed at turning them into entrepreneurs, wealth creators and employers of labour.
Nigeria Youth Investment Fund Loan.
If you have been searching for the application portal, requirements and registration procedure for the 2020 Nigerian Youth Investment Fund (NYIF Loan) then search no more as this page will guide you and also provide you with the necessary steps toward applying for the NYIF Loan.
How Much NYIF Loan Can I Access?
If you are willing to apply for the Nigerian Youth Investment Fund Loan but you are wondering how much you can be able to access then ask no more, below is the breakdown of the amount to access base on the categories below.
NYIF Loan Interest Rate.
The interest rate for the Nigerian Youth Investment Fund (NYIF) is quite Fair. Interest rate under the intervention is 5% per annum (all inclusive).
Objectives of the NYIF.
Access: Improve access to finance for youth and youth-owned enterprises, for national development
Employment: Generate much-needed employment opportunities to curb youth restiveness.
Training: Boost the managerial capacity of the youth and develop their potential to become the future large corporate organizations.
NYIF Application Procedure.
Below are the steps and procedure on how you can apply for the Nigerian Youth Investment Fund (NYIF) online via the NIRSAL MFB Portal.
The NYIF Loan Application 2020 official portals are: Application is available on the Nigeria Youth Investment Fund Application Portal on NIRSAL Microfinance Bank’s site, nyif.nmfb.com.ng; and the ministry’s website, www.youthandsport.gov.ng or www.noya.ng.
STEP 1: Get Trained
Applicants to attend a compulsory entrepreneurship training with an approved Federal Ministry of Youth & Sports Development (FMYSD) EDIs
STEP 2: Apply For Loan
Successfully trained prospective applicants proceed to NIRSAL Microfinance Bank (NMFB) portal to apply for the loan.
STEP 3: Submit An Application
Eligible applicants submit applications successfully on NMFB’s portal via https://nyif.nmfb.com.ng/
STEP 4: Approval
NMFB conducts loan assessment in line with Risk Assessment Criteria and programme guideline, make appropriate decision and forward recommended applications to CBN for final approval.
STEP 5: Disbursement
CBN reviews applications and gives final approval for disbursement to NMFB.
NYIF Application Eligibility and Requirements.
Read carefully below the requirements every interested applicant of the Nigerian Youth Investment Fund (NYIF) must possess in order to be part of the N75 billion Loan beneficiaries.
Individuals / Non-registered Businesses
Individual within the age bracket of 18 to 35 years
Has a valid Bank Verification Number (BVN) and means of ID
Provision of Business plan Summary or Completed Questionnaire
Entrepreneurship Training Certification from FMYSD Entrepreneurship Development Institutes (EDIs)
Formal business enterprises (Youth owned enterprises), duly registered with the Corporate Affairs Commission (CAC)
Business plan Summary or Completed Questionnaire
Valid Bank Verification Number (BVNs) of Directors
Provision of Tax Identification Number (TIN)
Entrepreneurship Training Certification from FMYSD EDIs