FMYSD To Disburse N250,000 – N3m To New NYIF Loan Beneficiaries

The Nigeria Youth Investment Fund (NYIF) is prepared to start a new round of disbursements to worthy beneficiaries, according to the Federal Ministry of Youth and Sports Development.

This came after some of the NYIF Shortlisted applicants received information from NPF Microfinance Bank a few weeks earlier.

Most of the newly shortlisted recipients, who are likely to be part of the loan, have acknowledged receipt of emails and text messages confirming the scheme’s approval processes and instructions on how to receive the funds.

The Nigerian Youth Investment Fund (NYIF) would pay funds to beneficiaries in amounts ranging from N250,000 (two hundred and fifty thousand naira) to N3 million (three million naira), based on the size of the firm and its appraisal.

The first round of payouts in 2020 benefited about 6,000 youngsters. The beneficiaries’ names have since been made public.

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Source: Nyscinfo

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