Nigeria Youth Investment Fund (NYIF) Application Portal – How to apply: Are you looking for the application portal for Nigeria Youth Investment Fund (NYIF) Bank loan? Do you want to apply for NYIF fund loan? Are you looking for steps on how to register for Youth Bank loan of N75billion? Are you in search of NYIF Loan Application Form 2020/2021?
Nigerian Youth Investment Fund (NYIF) is a government initiative created to support youths in business financially. The Nigerian youth investment fund application portal is now open for the Nigerian Youth to submit their applications. The Nigeria youth investment fund (nyif) application portal opened on 13th of October 2020 and it’s for Nigerian Youths from the age of 18- 35 years that met the requirements.
In a move that underscores his absolute confidence in the innovative skills, talents and industry of the Nigerian youth, President Muhammadu Buhari on Wednesday led the Federal Executive Council to approve the establishment of the Nigeria Youth Investment Fund (NYIF) to the tune of 75 billion naira for 3 years.
About Federal Ministry of Youth and Sports Development (FMYSD)
It is a Government Ministry in Nigeria created in the year 2007 with the mandate inter’liar to promote the socio economic development of the Nigerian Youth through the advancement of their welfare and provision of opportunities for their self- actualization.
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PURPOSE â€“ Nigeria Youth Investment Fund (NYIF)
NYIF is to serve as a sort of Youth Bank that will fund and support the innovative ideas, skills, talents and enterprise of the Nigerian Youth; a loan and credit pathway dedicated to assessing credit and soft loans.
Nigeria Youth Investment Fund NYIF
- Type Entrepreneurs
- OrganisationFederal Ministry of Youth and Sports Development (FMYSD)
- Country to study –
- School to study –
- Course to study Not specified
- State of Origin
- Gender Men and Women
- Application Deadline Not Specified
Aim and Benefits of Nigeria Youth Investment Fund NYIF
fund aims to reach 500,000 youth annually between 2020 and 2023. Each fund approval will range from N250, 000 to N50, 000,000, with a spread across group applications, individual applications, working capital loans set at 1 year and term loans set at 3 years with single digit interest rate of 5%.
- GLOBAL LIMIT : N12.5 billion
FACILITY TYPE : Term Loan
SINGLE OBLIGOR LIMIT: Individual / Non registered Business: Up to #250.000.00 | Registered Businesses( Business Name, Limited liability/ Corporative Societies / Commodities Associations): Up to N3,000.000.00.
- LOAN TENOR : Maximum of 5 years
- MORATORIUM : Maximum of 12 months
- Repayment Structure : Repayment will be on installment basis inline with businesses and NMFB evaluation.
Requirements for Nigeria Youth Investment Fund NYIF Qualification
FORMAL BUSINESS ENTERPRISES- Youth Owned Enterprises
- Duly registered formal business enterprises (Youth owned enterprises) with Corporate Affairs Commission (CAC)
- Provision of Business plan Summary / Or Completed Questionnaire
- Evidence of Training Certificate from approved FMYSD EDIs
- Valid Bank Verification Number (BVNs) of Director
- Provision of Tax Identification Number (TIN)
INFORMAL BUSINESS ENTERPRISES (INDIVIDUAL li SOLE PRORIETORS)
- Must be a Nigerian youth within the age bracket of 18 to 35yrs
- Have an operational business /enterprise domiciled In Nigeria (Those with unregistered business can also apply)Â
- Has not been convicted of any financial clime in the last 10 years
- Valid Bank Verification Number (BVN)
- Evidence of Local Government Indigene Certificate
- Beneficiaries of NMFB loans (such as Targeted Credit Facility TCF) and Agribusiness/Small and Medium Enterprises Investment Scheme (AGSMEIS) that remain unpaid are not eligible to apply.
- Beneficiaries of other Government loan schemes that remain unpaid are not eligible to apply.
Documents Required for Application
- Training Certificate from approved FMYSD EDIs
- Evidence of registration with Corporate Affairs Commission (Certificate of Incorporation and Form CAC 2A
- Valid Bank Verification Number (BVN) for Individuals and Directors
- Evidence of Local Government Indigene certificate
- Duly completed Application form
- A copy of Birth Certificate
- Valid Tax Identification Number (TIN)
- A Summary Business plan / Questionnaire
- Valid means of Identification (Voterâ€™s Card. Drivers License. National ID/NIN Slip 3. International passport)
- Automated two years bank statement analysis.
How to Apply for NYIF Loan Application Form
Interested and qualified? Go to Federal Ministry of Youth and Sports Development (FMYSD) on https://nyif.nmfb.com.ng/Applicants/New to apply
NYIF Application Process – Step By StepÂ Guide
Here is a step by step guide on how you can successfully apply for the ongoing Nigeria Youth Investment Fund (NYIF)
Step 1: Visit NYIF Application Portal for the Application Form
Click on the link above to open the NYIF application portal. Once the NYIF portal loads, you will seeÂ the application form.
Step 2: Enter Your Personal Information
Enter the following personal information
- First Name
- Middle Name
- Last Name (Surname)
When you are done filling the above, click the “Next” button
Step 3 – Chose Preferred Training Center
Click on the select box to chose the training center of your choice. The following training center options are available;
- National Youth Development Center (North-Central)
- National Youth Development Center (North-West)
- National Youth Development Center (North-East)
- National Youth Development Center (South-East)
- National Youth Development Center (South-South)
- National Youth Development Center (South-West)
- Federal Ministry of Youth Sports and Development
Step 4: Select How You Heard About NYIF
The 4th step is a select box asking you how you knew about NYIF. The following options are available
- NMFB Staff
- Google Ads
Step 5: Accept NYIF Terms of Service
The 5th step is a check button requesting you to confirm that the information you provided is true and correct. Click on the button to accept
Step 6: Submit Your Application
Click on the submit button to finally finishÂ your application.
- No training fees required
- Online Training only
- Training duration is 5days
The Nigeria Youth Investment Fund registration portal isÂ https://nyif.nmfb.com.ng/Applicants/New .
The youth investment fund application form is found on the page when you open the link above
The youth investment fund portal has no closing date yet
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