NYIF: FG urges over 22,000 youths to complete loan process

The Federal Ministry of Youths and Sports Development has urged over 22,000 successful applicants to respond to emails on approval for the disbursement of loans under the Nigeria Youth Investment Fund (NYIF). In a statement, the ministry said less than 14% (about 3,500) of the newly shortlisted applicants from the over 25,000 successful candidates, who […]

The Federal Ministry of Youths and Sports Development has urged over 22,000 successful applicants to respond to emails on approval for the disbursement of loans under the Nigeria Youth Investment Fund (NYIF).

In a statement, the ministry said less than 14% (about 3,500) of the newly shortlisted applicants from the over 25,000 successful candidates, who are expected to be part of the loan, have responded to emails confirming their approval to receive the soft loan.

Instructions on how to access the funds are contained in the email sent.

“The rate of response to the emails has been quite low. However, others who responded have received the funds into their PFI designated bank accounts,” it noted.

Shortlisted candidates must respond to communication in order to conclude the disbursement process. Those who fail to respond risk forfeiting this opportunity.

The ministry said the NYIF is being disbursed to the youths who have expressed business needs within a range of N250,000 to N3 million.

It also said about 6,000 youths who benefitted from the first set of disbursements in 2020 had their names published while in the second batch, 4,375 have responded to their loan offer messages and received their funds.