NYIF Loan

… How To Get Your Payment After Approval

NYIF Loan Disbursement Date: The federal government, through the Central Bank of Nigeria (CBN) and Nirsal Microfinance Bank are to commence the second round of Nigeria Youth Investment Fund (NYIF) loan disbursement from February 2022.

NYIF Loan Disbursement Date: The Nirsal Microfinance Bank (NMFB) that is in charge of the NYIF loan disbursement had earlier informed applicants of NYIF loan to verify their BVN by sending text message to shortlisted candidates. As part of the disbursement processes, two weeks ago, pre-qualification messages were sent to most of the applicants.

The Federal Government (FG), on Tuesday, said another batch of 10,000 youth beneficiaries have been shortlisted for the Nigeria Youth Investment Fund(NYIF).

It said this is in addition to the initial pilot phase where 5,285 beneficiaries were shortlisted.

This was contained in a statement issued by Kola Daniel, media aide to the Minister of Youths and Sports Development, Mr Sunday Dare.

It stated that the beneficiaries would be trained after which they will be approved for funds disbursement under the NYIF scheme.

The statement quoted the minister as saying that the beneficiaries emerged out of the ongoing screening of over three million applicants for the loan.

NYIF Loan
NYIF Loan

“With the successful completion of this pilot phase, NIRSAL has cleared names of another ten thousand (10,000) for training and subsequent loan approval and disbursement. Loans are in the range of two hundred and fifty thousand (N250,000) to three million naira(N3,000,000) for now.

“These names are available on the FMYSD website and NOYA website. Checks done include Age, BVN whether or not the individual has an existing government loan or has received covid 19 business payments.

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“All approved applicants will undergo training to ensure efficient use of the loan, therefore, increasing the yield and growth the loan can deliver to the intended business owner,” it stated.

Latest Information:

This is to inform applicants that there is no need for panic if your loan status shows processing. It is because you have not been invited for training, your loan can only be approved after your zoom training, it’s an online training that lasts from few minutes to an hour.

Also note that Mindthe_gap training is different from NYIF training, Mindthe_gap training is held on YouTube, the training for NYIF applicants is held on zoom, you are to patiently wait until you are invited via your email for training.

It’s possible not be trained and still be given the loan. It all depends on the kind of activities that have been going on around your Bank Verification Number (BVN).

You applied through your BVN, and your BVN has been verified, therefore, the information the management of this NYIF extract from your BVN that will determine what happens to your application and the loan.

Read Also: NYIF: Latest Update for Nigerian Youth Investment Fund Applicants

NYIF Disbursement Date Process

NYIF Disbursement Begins: In cooperation with the Central Bank of Nigeria (CBN) and the Nirsal microfinance bank, the federal government began approving NYIF loans to applicants once they were partially completed.

The Nigerian Youth Investment Fund (NYIF), set up last year by the federal government to support young Nigerian entrepreneurs looking to start their own businesses, was set up to approve loans for successful candidates.

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Applicants who have successfully completed online entrepreneurship training should take the following steps to check the status of their loan:

https://nyif.nmfb.com.ng/ApplicantDashboard/Business/Login

  • Applicants are to Visit the NYIF portal CLICK HERE
  • Provide your login details in the NYIF dashboard(Username and Password).
  • Then Click on Check Loan Status.
  • A diaglog box will appear showing your loan status if approved or still pending.

NYIF Loan: See How To Get Your Payment After Approval

Read Also: How to Validate BVN On Nigerian Youth Investment Fund portal

How To Get Your Payment After NYIF Laon Approval

It is quite challenging for some to get their payment after their loan has been approved by the NYIF. Do not be disturbed just follow the few steps that will be highlighted and you can easily get payment in no time.

  1. The first steps after you have recieved message of your loan approval, you will have to Login to the loan portal.
  2. You will click on accept loan before entering loan
  3. The account used for your loan appication must be authenticated and click submit after meeting all requirement.

 

 

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