The
application portal for Nigeria Youth Investment Fund is now re-opened. You can
now access up to 3 Million Naira Credit Facility through the Federal Government
of Nigerian Youth Investment Fund program targeted at young individuals and
business owners.
The program is dedicated to
investing in the innovative ideas, skills & talents of Nigerian youths
aimed at turning them into entrepreneurs, wealth creators and employers of
labour. The Nigerian Youth Investment Fund (NYIF) was set up as an initiative
of the Federal Ministry of Youth and Sports Development
(FMYSD) and funded by the Central Bank of Nigeria (CBN).
Eligibility
Criteria for Nigeria Youth Investment Fund 2021
The selection of candidates for
the Nigerian Youth Investment Fund will be based on the following criteria;
For INFORMAL BUSINESS ENTERPRISES
(INDIVIDUAL & SOLE PRORIETORS).
Criteria:
·
Must
be a Nigerian youth within the age bracket of 18 to 35 years of age
·
Have
an operational business /enterprise domiciled in Nigeria (Note: Those with
unregistered business can also apply)
·
Has
not been convicted of any financial crime in the last 10 years
·
Valid
Bank Verification Number (BVN)
·
Evidence
of Local Government Indigene Certificate.
Criteria
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
·
Valid
Bank Verification Number (BVNs) of Directors + Provisions of Tax Identification
Number (TIN)
Eligible Activities/Businesses:
·
Technology/
Innovation
·
Agriculture
and related value chain
·
Green
Economy and Renewable energy sector
·
Manufacturing
·
Hospitality/
Tourism
·
Construction
·
Logistics
and supply chain
·
Healthcare
value chain
·
Creative
sector
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.
Application
Procedures
You can apply for the Federal
Government of Nigeria Youth Investment Fund by filling the online
NYIF application form at youth investment fund application
portal nyif.nmfb.com.ng based on information provided
at https://noya.ng/home.aspx. Participation in program will
involve the following steps;
·
Get Trained
Applicants to attend compulsory
entrepreneurship training with an approved Federal Ministry of Youth &
Sports Development (FMYSD) EDIs
·
Apply For Loan
Successfully trained
prospective applicants proceed to NIRSAL Microfinance Bank (NMFB) portal to
apply for the loan.
·
Submit an Application
Eligible applicants submit
applications successfully on NMFB’s portal.
·
Approval
NMFB
conducts loan assessment in line with Risk Assessment Criteria and programme
guideline, make appropriate decision and forward recommended applications to
CBN for final approval.
·
Disbursement
CBN reviews applications and
gives final approval for disbursement to NMFB
NB: You should only access application forms made available at the Nigeria
Youth Investment Fund websites https://nyif.nmfb.com.ng/ and https://noya.ng/home.aspx (informational).