What is NYIF Loan application portal?
NYIF is the abbreviation of Nigeria Youth Investment Fund. The NYIF application form is already out and the registration portal is open presently. NYIF is an initiative of the Federal Ministry of Youth & Sports Development which is funded by the NIRSAL Microfinance Bank, the Central Bank of Nigeria.
The main goal of this youth fund is to help the young people of Nigeria innovate and enhance their skills and provide them with entrepreneurial scope. The fund aims at providing the youth with job and business opportunities as Nigeria still deals with the problem of mass unemployment.
Benefits of NYIF Programme 2022
The benefits of enrolling in the NYIF Programme 2022 through loan application portal includes the following:
- The programme can provide a loan of 250,000 NGN to 50 million NGN at 5% interest for innovative business ideas and solutions.
- Interested candidates can get trained through FMYSD and CBN. This can help them gain the requisite skills to begin their entrepreneurship journey.
- The young mass of Nigeria can gain access to all the entrepreneurship training programs arranged by the Ministry of Nigeria and also get a chance to participate in youth empowerment programs.
- People can also seek funding and investment from various public and private sector organizations, financial institutions, and even from international donor agencies.
- The NYIF programme also helps people with ample MSME marketing opportunities.
- Furthermore, they can also act as business guarantor for many.
How to NYIF application portal login www.nyif.nmfb.com.ng 2022?
For the NYIF Loan application portal login you have to enter your username which can either be your registered email id, BVN, or mobile number. Followed by this, you have to validate the password that you have created while registering at the portal.
How to NYIF loan application form?
Once you visit the Nigeria Youth Investment Fund website, you can then click on the Loan Application button. Doing this will redirect you to a new page where you have to enter your BVN to continue further. Then, you can hit the Validate BVN button.
How to check NYIF Loan application status?
You can check the NYIF application status from the nyif.nfmb.com.ng website directly. You just need to log in to the application portal. And then in the dashboard, you can easily see the status of your application. Follow the below-given procedure to log in to the portal.
Also read: Non-interest Targeted Credit Facility-Loan in Nigeria
How to NYIF Loan application form registration?
To apply for the NYIF loan application through a portal, you have to visit the NYIF website and register on the portal. You have to create your account by providing all necessary information about yourself and then attaching the supporting documents.
Then, you can proceed with the application filling procedure which can be done free of cost and this will finally help you to apply for the NYIF NMFMB NIRSAL Loan. You will have to provide the following particulars about yourself in the form:
- Name & number
- Geo-Political Zone
- State of Origin
- Educational level
- Preferred training centre
Below are the NYIF application portal requirements:
- The BVN of the applicant.
- Applicants must be 18 years and above.
- The candidates bank account number.
- A valid and government approved ID.
- Applicants must provide all other personal details and supporting documents.
The states that are eligible for the NYIF programme are Abia, Bauchi, Cross River, Delta, Ebonyi, Enugu, Gombe, Imo, Jigawa, Kano, Lagos, Niger, Ogun, Ondo, Oyo, Plateau, Sokoto, Taraba, Yobe, Zamfara, and Federal Capital Territory (FCT), etc.
NYIF application Closing Date
The NYIF registration has already opened for the year 2022 and the application closing date is 31st of December, 2022.
Also read: Nirsal Covid 19 loan (Here are the Complete Details)
FAQs (Frequently Asked Questions)
How much will NYIF give?
Individual businesses based on the nature and the involved activity of the project can get anywhere upto N250,000.
How long can it take for the NYIF loans to get approved?
It can take anywhere within one day to one week to approve a loan.
Here is what you need to learn about an NYIF loan if you are interested in taking it. For those who do not wish to get stuck at a certain phase of the application needs to learn more about the requirements and the eligibility criteria to understand better about the process.