How to Apply: 75 Billion Naira Nigeria Youth Investment Fund (NYIF)

Sometime ago we shared the framework on how the Federal Government has mandateed the CBN to disburse a total of N75 billion Nigeria Youth Investment Fund. This update is to further provide you a definite guide on how to apply for those who are or intend to go into business.

Click here to read the initial framework communicated by the CBN in a statement.

Nigerian Youth Investment Fund (NYIF) is a government initiative created to support youths in business financially. The Nigerian youth investment fund application portal is now open for the Nigerian Youth to submit their applications. The Nigeria youth investment fund (NYIF) application portal is open and it’s for  Nigerian Youths from the age of 18- 35 years that meet the requirements.

NYIF Application Form 2020

https://nyif.nmfb.com.ng/Applicants/New

NYIF Application Portal

https://nyif.nmfb.com.ng

About Federal Ministry of Youth and Sports Development (FMYSD)

It is a Government Ministry in Nigeria created in the year 2007 with the mandate inter’liar to promote the socio economic development of the Nigerian Youth through the advancement of their welfare and provision of opportunities for their self- actualization.

Nigeria Youth Investment Fund NYIF

• Type: Entrepreneurs
• Organisation: Federal Ministry of Youth and Sports Development (FMYSD)
• State of Origin
• Gender: Men and Women
• Application Deadline: Not Specified

Aim and Benefits of Nigeria Youth Investment Fund NYIF

fund 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 single digit interest rate of 5%.

• GLOBAL LIMIT : N12.5 billion
  FACILITY TYPE : Term Loan
  SINGLE OBLIGOR LIMIT: Individual / Non registered Business: Up to #250.000.00 | Registered Businesses( Business Name, Limited liability/ Corporative Societies / Commodities Associations): Up to N3,000.000.00.
• LOAN TENOR : Maximum of 5 years
• MORATORIUM : Maximum of 12 months
• Repayment Structure : Repayment will be on installment basis inline with businesses and NMFB evaluation.

Requirements for Nigeria Youth Investment Fund NYIF Qualification

FORMAL BUSINESS ENTERPRISES- Youth Owned Enterprises

• Duly registered formal business enterprises (Youth owned enterprises) with Corporate Affairs Commission (CAC)
• Provision of Business plan Summary / Or Completed Questionnaire
• Evidence of Training Certificate from approved FMYSD EDIs
• Valid Bank Verification Number (BVNs) of Director
• Provision of Tax Identification Number (TIN)

INFORMAL BUSINESS ENTERPRISES (INDIVIDUAL li SOLE PRORIETORS)

• Must be a Nigerian youth within the age bracket of 18 to 35yrs
• Have an operational business /enterprise domiciled In Nigeria (Those with unregistered business can also apply) 
• Has not been convicted of any financial clime in the last 10 years
• Valid Bank Verification Number (BVN)
• Evidence of Local Government Indigene Certificate

INEGIBILITY

• Beneficiaries of NMFB loans (such as Targeted Credit Facility TCF) and Agribusiness/Small and Medium Enterprises Investment Scheme (AGSMEIS) that remain unpaid are not eligible to apply.
• Beneficiaries of other Government loan schemes that remain unpaid are not eligible to apply.

Documents Required for Application

• Training Certificate from approved FMYSD EDIs
• Evidence of registration with Corporate Affairs Commission (Certificate of Incorporation and Form CAC 2A
• Valid Bank Verification Number (BVN) for Individuals and Directors
• Evidence of Local Government Indigene certificate
• Duly completed Application form
• A copy of Birth Certificate
• Valid Tax Identification Number (TIN)
• A Summary Business plan / Questionnaire
• Valid means of Identification (Voter’s Card. Drivers License. National ID/NIN Slip 3. International passport)
• Automated two years bank statement analysis.

Application Deadline: Not Specified

How to Apply

Interested and qualified? Go to Federal Ministry of Youth and Sports Development (FMYSD) on nyif.nmfb.com.ng to apply.

NYIF Application Process – Step By Step Guide

Here is a step by step guide on how you can successfully apply for the ongoing Nigeria Youth Investment Fund (NYIF)

Step 1: Visit NYIF Application Portal for the Application Form

Click on the link above to open the NYIF application portal. Once the NYIF portal loads, you will see the application form.

Step 2: Enter Your Personal Information

Enter the following personal information

• First Name
• Middle Name
• Last Name (Surname)
• BVN

Step 3 – Chose Preferred Training Center

Click on the select box to chose the training center of your choice. The following training center options are available;

• National Youth Development Center (North-Central)
• National Youth Development Center (North-West)
• National Youth Development Center (North-East)
• National Youth Development Center (South-East)
• National Youth Development Center (South-South)
• National Youth Development Center (South-West)
• Federal Ministry of Youth Sports and Development

Step 4: Select How You Heard About NYIF

The 4th step is a select box asking you how you knew about NYIF. The following options are available.

• CBN
• NMFB Staff
• Facebook
• Linkedin
• SMS
• Google Ads
• Facebook

Step 5: Accept NYIF Terms of Service

The 5th step is a check button requesting you to confirm that the information you provided is true and correct. Click on the button to accept

Step 6: Submit Your Application

Click on the submit button to finally finish your application.

• No training fees required
• Online Training only
• Training duration is 5days

The Nigeria Youth Investment Fund registration portal is https://nyif.nmfb.com.ng/Applicants/New .

The youth investment fund application form is found on the page when you open the link above

The youth investment fund portal has no closing date yet

For more details visit Nigeria youth investment fund website