The Federal Ministry of youth and sports development (FMYSD) has launched the Nigerian Youth Investment Fund (NYIF), a 75 billion naira youth fund that is designed to provide easy access to youths and youth-owned businesses in nigeria to funding. The NYIF scheme is funded by the Central Bank of Nigeria (CBN) and the key objective of the initiative is to generate over 500,000 jobs before 2023 through the provision of easy access to fund for the youths of Nigeria.
Application for the fund is already open and the purpose of the article is to provide you with a clear guide of how to successfully apply for the Nigerian Youth Investment Fund (NYIF). Do well to read through and share with friends and loved ones you want to benefit from the initiative.
To be eligible for the NYIF as an individual or sole proprietor, you must be within the age of 18-35 years and have a functional business in Nigeria. To qualify, You must not have been convicted of any financial crime in the last ten years and must also posses a local government of origin certificate. Those who apply as individual or sole proprietors can access a maximum of #250,000.
To be eligible to apply as enterprise, you must be of the same age range of 18-35 years and your business must be registered with the corporate affairs commission (CAC), and should also have a tax identification number (TIN). Those whose application are successful as youth owned enterprise can access up to 3 million naira.
The Application Process
The application process for the national youth investment fund (NYIF) involves five easy steps that wouldn’t take more than 15 minutes, and they are as follows
Visit the application portal for the scheme on nyif.nmfb.com.ng on your mobile phone or computer and click on the “apply here” button
The second step will require you to provide your personal details. Some of the details needed in this step include:
your first name,
your middle and
your last names. Your last name here is meant to be your surname.
your are also required provide your 11-digit BVN
Once you have provided all these details correctly, click the “Next” button to continue
The third step requires you to supply your residential address. You will only be able to access step three if the age verification using your BVN proves that you are up to 18 and at or below 35 years of age
At this stage, enter your geo-political zone – North West, North East, North Central, South West, South East or South South.
Select your state of origin and local government area of origin. These are different from your state and local government area of residence except you live in your state of origin.
Choose your highest educational level then click “Next” to proceed to final stage.
This is the final step and requires you to select your preferred training center for the compulsory 5-days online training that every applicant of the scheme will undergo. You will also have to select the option of how you heard about the NYIF. After this, you just need to Tick the declaration box and click “Submit” to finish your application.
At this point, A congratulatory message will appear at this point to indicate to you that your application has been successfully received.
New height global resources sincerely wish all applicant of the national youth investment fund success. Be sure to pay very close attention to ensure you don’t miss an update. feel free to contact us for further inquiry on the scheme or any other business development question that you want answers to.