NYIF UPDATE: It Could be recalled recently that The Federal Ministry of Youth and Sports Development has said only N3 billion of the promised N12.5 billion is available for disbursement to youths under the Nigeria Youth Investment Fund (NYIF).
The ministry, which got the Federal Executive Council (FEC) approval for the fund, had said the Central Bank of Nigeria (CBN) was directed to make N12.5 billion available in the first tranche of the fund.
But it was learnt that the CBN made only N3 billion available to NIRSAL Microfinance Bank (NMFB) through which some youths have secured loans under the fund, where the youths got Between #250,000 to #300,000
Nigerian youths are clamouring on social media and online platforms for more loans to be disbursed to them to enable them to grow their businesses, as promised by NYIF.
In a document sent out a few months ago, the ministry said it was “in consultations with other partners to expand the loans disbursement platform to fast-track access to the fund”.
Sources at the ministry hinted that top officials were liaising with other financial institutions to seek support in making more loans available to the youth.
Now the Officials at the Nigeria Youth Investment Fund ( NYIF ) has made it for the NYIF Beneficiaries to Update their Account Details, possibly for more fund.
How to Update Your Account Details on the NYIF:
- Log on to NYIF Website
- Enter your User Name and Password
- Then click on Update Account benet the portal as shown in the image below.