Nigeria Youth Investment Fund (NYIF) Loan 2021/2022 Application Portal is LIVE again, interested and qualified applicants can now apply for Nigeria Youth Investment Fund Loan as the portal is live again and you can apply with the button below, please don’t miss this golden opportunity.
NYIF Loan 2021/2022 Link Portal allows you to 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.
The Nigeria Youth Investment Fund Portal is now open for fresh applications and everyone who is interested is free to apply online via the NYIF portal. The registration portal is live and the link is www.nyif.nfmb.com.ng. THIS APPLICATION PROCESS IS FREE. Do not pay any money to anybody claiming to be an Agent of Nigeria Youth Investment Fund
Here, we want to guide you on the easy steps to apply for the Nigeria Youth Investment Fund (NYIF) Loan and qualify to get the loan. We will show you how you can make good use of this opportunity for Nigeria Youths and get the loan to start up a business or support your existing business to grow.
This article will help you to know more about Nigeria Youth Investment Fund (NYIF) Loan Application Form, to know if you are eligible to apply and how to apply/register online. Get started below:
Requirements for Nigeria Youth Investment Fund (NYIF) Loan
Individuals/Non-registered Businesses
- Individual within the age bracket of 18 to 35 years
- Has a valid BVN and means of ID
- Provision of Business plan Summary or Completed Questionnaire
- Entrepreneurship Training Certification from FMYSD Entrepreneurship Development Institutes (EDIs)
Registered Businesses
- 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
Frequently Asked Questions (FAQ) About The Nigeria Youth Investment Fund ( NYIF )
How do I apply for the Nigerian youth investment fund NYIF? Is the Nigerian Youth Investment Fund real? These are some of the questions Nigerians has been asking ever since this scheme was launched.
The Government of Nigeria is now helping youth access loans that will help them fund their businesses.
Have you heard about the Nigeria Youth Investment Fund (NYIF)? Let’s show you how to apply for the N75 billion Nigeria Youth Investment Fund (NYIF) through the application portal at nyif.nmfb.com.ng
Who provided the Nigeria Youth Investment Fund (NYIF) ?
Please be informed that this programme is funded by Nigerian Apex Bank; the Central Bank of Nigeria (CBN). while the programme is under the supervision of the Federal Ministry of Youth and Sports Development (FMYSD).
NYIF Loan range
Remember that 75 billion was set aside to kickstart this programme. If you are applying as a non-registered business and also as an individual you are entitled to access 250 thousand naira (two hundred and fifty thousand naira). Please note that this business should be owned by a Youth which is the minimum criteria.
Funding is further increased if your business is registered with the corporate affairs commission. In fact, you are now entitled to access up to 3 million Naira (three million Naira).
NYIF Loan repayment period
due to the fact that the loan is coming from the Government, the repayment period should not scare you off from applying. When you get this loan you can repay it anytime you want but it won’t exceed 5 years.
How much is the interest rate?
Usually, a Loan comes with a high-interest rate, so also is the Nigeria Youth Investment Fund (NYIF) but this time the loan is 5% and must be paid every year within the 5 years you are to run your business with the loan.
How will the loan be disbursed?
The loan will be disbursed through approved channels like through CBN approved Micro Credit Organisations located in different states of Nigeria.
Other channels are Fintech Organisations and Venture Capital. Remember that all these institutions are recognised by CBN.
Nigeria Youth Investment Fund (NYIF) Eligibility:
- Nigeria Youth Investment Fund (NYIF) is a programme for the youth, not for the elderly and children. Required age falls between 18 to 35.
- The federal Government wouldn’t like to empower bandits, criminals hence applicant must have a clean record from all the security agencies, law Court.
- Applicant will have to present a local government identification letter.
- Targeted businesses should be owned by a Nigerian and located in Nigeria.
- Businesses that will be finance must be registered with the Corporate Affairs Commission.
- Nigeria Youth Investment Fund applicant must possess Bank verification number.
How to apply/register for Nigeria Youth Investment Fund (NYIF) Loan 2021/2022 Application Form
Visit NYIF Portal nyif.nmfb.com.ng to register or click the button below. Sign up and fill in the information required of you. Once you have created an account, you can proceed with the application process.
To apply and submit your application form online
- Access the application form and input your personal details like
- First Name
- Middle Name
- Last Name (Surname)
- BVN
- The next step is for you to choose the training center that is closer to you.
- Then you have to let them know the source from where you got the information about the scheme.
- Finally accept the terms and conditions before submitting your form.
Please take note, the application process is free of charge. Once you have been able to register, you can then attach the needed document and apply for the NYIF NMFB NIRSAL Loan successfully.
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