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NYIF Youth Bank Loan 2020: FG approves N75billion fund Loan to Nigerian Youths

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NYIF Youth Bank Loan 2020: FG approves N75billion fund Loan to Nigerian Youths – Finally, the Federal Government of Nigeria has approved the loan of N75 billion for the establishment of Nigerian Youth Investment Fund (NYIF). This will allow all Nigerian youths to apply for loan through the Nigerian Youth Bank. NYIF Loan application form 2020 is made available for all youths to apply. See How to apply for NYIF Loan using the link and portal below.

The Federal Executive Council (FEC) approved Nigerian Youth Investment Fund (NYIF) loan on Wednesday night and it was disclosed to the public by the Minister of Youth and Sports Development, Mr. Sunday Dare after a lengthy 9th virtual meeting presided over by President Muhammadu Buhari at the Council Chamber, Presidential Villa, Abuja.

The essence of the NYIF also called ‘Youth Bank’ is to create financial support for the creativity and innovation of Nigerian Youths

Contents

Requirements, Eligibility and Qualifications for NYIF Youth Bank Loan Application

  • Nigerian Youth within the age of 18 and 35 years can apply
  • Youths who have genuine business ideas would be eligible
  • National Identity Card, Permanent Voters Card, Drivers License or International Passport
  • Passport photograph
  • Valid Email address and Phone Number
  • Contact address
  • Bank Verification Number (BVN)

Steps on How to Apply/Register for CBN Agric Fund Loan by AGSMEIS & MSMEDF

Importance of NYIF Loan to Nigerian Youths

According to Dare, “For the first time in the history of Nigeria, the Federal Executive Council today approved the establishment of the Nigerian Youth Investment Fund (NYIF) to the tune of N75 billion.

“This fund will create a special window for accessing credit facilities and finance on the part of our youths that will help to fund their ideas, innovations.

“The best way to call it is that for the first time the country will have a youth bank.”

Federal Executive Council (FEC) also approved the Ministry of Youth and Sports Development to play a lead role in working on necessary steps in terms of legislation, organization and other aspects of financing.

Here, according to the Minister, the Federal Ministry of Finance, Budget and National Planning will take the lead when it comes to the aspect of the financing, working with the CBN, the Ministry of Youth and Sports Development and other relevant MDAs.

How to Access or Apply for NYIF Youth Bank Loan 2020

Application is done through any of the 125 micro-credit banks across the country and qualified candidates would have access to the funds.

Application or registration to NYIF Youth Bank Loan will be just like Npower programme as the process will be digital and fair to all youth regardless of tribe and social status.

To register/apply in order to access NYIF Youth Bank Fund Loan, visit: www.nyif.gov.ng – this link has not been launched yet but soon.

Click Here to Apply for CBN Nirsal Loan Application 2020/2021 by Federal Government

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  • Truth sayer says:

    President Muhammad Buhari is the first Nigeria president with so much plans for the Nigeria youths in history.
    I hope to have a position where I can look into the affairs and solve problems for Nigeria youths and Nigeria old people.
    God bless Mr. President, God bless Nigeria.

  • YAKUBU ISAH ABDULKAREEM says:

    Please notify me when the the application start

    • basedonnews says:

      definitely, you will be informed... Hope you've subscribed to the site already

  • Ezra yakubu says:

    So interested

  • ABBAS HASHIMU says:

    I have a keen interest in this loan to enable me reach my business target

  • Twinkletoes says:

    So interested

    • Please notify me when registration starts and how to register. Thanks

    • Kabir Ahmad Abdullahi says:

      Am keenly interested, please inform me when registration started.

  • Please I need the loan please notify me with the right link

  • Nora Brown says:

    God bless your reign for this great opportunity Mr Preisdent...thanks for giving us a chance...

  • Nwafor chima Daniel says:

    Notife me when it start

  • Please am interested..notify me when is up

  • Joseph Emmanuel says:

    Please do let me know when the application start. Thank you so very much.

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