Nigerian Youth Investment Fund (NYIF) is a government initiative created to boost the Nigerian economy through leverage and access to finance for youths.
The fund hopes to serve as a catalyst to unleash the potential of the youth and enable many of them to build businesses that will increase the employment rate.
The Nigerian Youth Investment Fund (NYIF) 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 a single-digit interest rate of 5%.
Disbursement will be through various channels, which will include microfinance, finance firms, and deposit money banks regulated by the Central Bank of Nigeria and supported by the Bank of Industry.
In the last few days. we gather that Some Applicants of the scheme can now validate their BVN on the NYIF portal.
How to Validate Your BVN on the Nigeria Youth Investment Fund ( NYIF ) Portal
Step 1: Visit http://www.nyif.nmfb.gov.ng
Step 2: click on loan application
Step 3: Type your bank verification number
Step 4: Create your password, and then submit.
You are to wait for the NYIF portal to process your request which a mail with the link will be sent to the email address you registered on the NYIF portal.
Kindly note that It takes a few minutes or days to receive a confirmation mail, this is because the system is responding to millions of applications.
Also, note that, If you type your BVN and get a response from the system that ‘You have not been trained’. Kindly exercise patience as the next batch of 30,000 applicants will soon start receiving training messages, keep contact with your email messages.
Those that were also trained (First batch of 30,000) of mind_the_gap on youtube and have downloaded certificate should check the portal and validate their BVN. This set of people are automatically trained;
If you require additional information and assistance on how to process your application, join our Telegram group here for free https://t.me/joinchat/Hz5MyxSPv9Ol7lOl