Are you one of those who have struggled to transfer your approved 2022 National Youth Investment Fund (NYIF) from the NPF microfinance bank into your bank account? Here we will show you how to transfer NYIF loan from NPF Microfinance Bank to your bank account.
For the betterment of the country, the federal government of Nigeria introduced this loan opportunity as a way to help the Nigerian youths, which has now been approved.
Meanwhile, we have got you all the necessary steps and procedures to follow in order to make a successful transfer of the loan from the NPF to your account. But before that, let’s go through the events that brought about the NYIF.
- 1 Things you should know about the Nigerian Youth Investment Fund (NYIF)
- 2 Do you think the Lapo and Baobab NYIF Disbursements are distinct from the NPF Microfinance Bank?
- 3 The Step in Transferring NYIF Funds From NPF Microfinance Bank To Your Account
- 4 How certain is it that NYIF registration will be possible in the future?
Things you should know about the Nigerian Youth Investment Fund (NYIF)
The Nigerian Youth Investment Fund, that many have benefited and are still benefiting, is a financial aid program created by the federal government of Nigeria, in collaboration with the Federal Ministry of Youth and Sports department (FMYSD), whose registration first began in 2020. The same department has approved 25,000 beneficiaries that have benefited from the loan.
While fulfilling the promise by the FG, NPF microfinance bank, Lapo and Baobabs remain the approved banks for NYIF disbursement, which makes it easy to get to the beneficiaries after overcoming the challenge that the first set of beneficiaries experienced from NIRSAL.
And because it has the backing of the federal government of Nigeria, it makes it mandatory that all lucky beneficiaries receive their fund after doing the needful.
Do you think the Lapo and Baobab NYIF Disbursements are distinct from the NPF Microfinance Bank?
Going with their individual names, the banks are quite different from each other in terms of business operations, but for the purpose of the NYIF, they both disbursed the same amount of NYIF loan allocated to beneficiaries. As earlier said, they are all used as an intermediary for sending NYIF to beneficiaries, which will remain the same unless there is a change of plan by its creator in the future, which I will communicate to you if such occurs. Yours is to check on our post daily to be updated where necessary.
The Step in Transferring NYIF Funds From NPF Microfinance Bank To Your Account
This is the part that is the paramount reason for this article. Just keep on scrolling while I try to disclose the steps in transferring NYIF funds from NPF Microfinance Bank to your account in order to reduce or eradicate totally the question surrounding the fund transfer. Here are the steps:
1. Online banking/internet banking
The only difference between this and the normal online transactions we do on a daily basis is the NPF registration, which is achieved using the NPF website, first clicking https://ibank.npfmicrofinancebank.com/after successfully logging into the website, and then doing the following.
A. With the same NPF account number, register an account on the website. That goes with you clicking on “Create a new account.”
B. A field will be open where you can fill in your details, which include: NIN number, date of birth, photo upload, and finally your signature, as necessary.
C. After doing the needful as required of you by the site, you are to wait for a full day (24 hrs) before getting approval to make your transfer.
2. Making Use of the USS Code
Most beneficiaries find this aspect easy by dialling *5353# to make their transfer successful, which only has fewer procedures than internet banking. The fact remains that the fluatation or unavailability of the network remains a major challenge users face while using the code method during transactions as a disadvantage of using the code method. Aside from that, the use of code is the best in terms of minimizing time and energy.
3. Download/Install the app
Just as every bank has its own bank app, the same is for the NPF microfinance bank, which has the same procedure as that of internet banking while filling in the fields and requiring you to create an account. Many people have attempted to download the app from the Google Play store but have been unsuccessful because it has been removed. However, it can be obtained by visiting https://www.mediafire.com/file/hozxhkplzemaxuw/NPF_Microfinance_Bank_v1.0.39_www.9apps.com_.apk/file. Note: Skipping a step, most especially lack of creating an account with the help of the website or app, will also rob you access to transferring your funds since it is the first step found as an attribute to both the NPF app and website.
How certain is it that NYIF registration will be possible in the future?
Based on the aim of the federal government of Nigeria to eradicate the rate of unemployment among youths in the country as well as to engage them to be business owners and entrepreneurs, it is therefore 100 percent certain that the portal will soon be open for future beneficiaries, while in a place where it didn’t work out, the government won’t delay stating their reasons.