The federal government, through the Central Bank of Nigeria (CBN) and Nirsal Microfinance Bank are to commence the second round of Nigeria Youth Investment Fund (NYIF) loan disbursement from March 2021. Read NYIF News Update On Loan Disbursement.
The Nirsal Microfinance Bank (NMFB) that is in charge of the NYIF loan disbursement had earlier informed applicants of NYIF loan to verify their BVN by sending text message to shortlisted candidates. As part of the disbursement processes, two weeks ago, pre-qualification messages were sent to most of the applicants. See FMYSD Form to Contact NYIF Loan Support Team.
The sending of pre-qualified messages is in batches, so there is still hope if you have not gotten the message or loan.
Those who have applied NYIF, got message from NMFB, successfully created an account with a password but are yet to get a verification email, there is no need to panic, just be ready to follow instructions. Check out: solution for who haven’t got NYIF Loan Verification Link.
There are several logic to this NYIF loan like uploading of business plans, NYIF training, etc. Know that nothing is constant and you will not all get the same respond or message.
It’s possible not be trained and still be given the loan. It all depends on the kind of activities that have been going on around your Bank Verification Number (BVN).
You applied through your BVN, and your BVN has been verified, therefore, the information the management of this NYIF extract from your BVN that will determine what happens to your application and the loan.
There are those who were selected and trained in the first Batch of NYIF loan disbursement, which took place last year (2020), but they are yet to get the loan. Reason is because investigation has not been concluded about their BVN.
It is important to note that some account number can not take more than N100,000 per credit. So, kindly confirm with your bank the volume of credit your account can accept for a single transaction.
If you got a verification mail, but you are having issues with verifying the email, be calm, it is never going to be too late. The system has already captured you and you are qualify for the loan provided you got the pre-qualify SMS.