Back in October 2020, the Federal government of Nigeria officially launched the registration portal for the N75 Billion Nigeria Youth Investment Fund (NYIF), thus paving the way for interested young Nigerians between the age of 18-35 years old to apply.
According to reports, some of the applicants are already getting paid but if you one of the those that applied for the NYIF and have not been paid, you will need to log into your dashboard, and update your account details.
How To Update Bank Account Details On NYIF Portal
NOTE: If you are already a beneficiary of the COVID-19 stimulus package, you are not eligible for the NYIF.
Visit https://nyif.nmfb.com.ng/ApplicantDashboard to login to your dashboard.
The Minister of Youth and Sports Development, Sunday Dare said that the loan, provided under the NYIF, has an interest rate of 5% per annum and a tenor of 5 years with a moratorium of up to 12 months. The fund would be spread over 3 years to cater to youth-owned businesses and investment needs.
Successful applicants will undergo 5 days of compulsory online training which is free. Fund approval will range from N250,000 to N5,000,000 with a spread across group applications, individual applications, working capital loans set at 1 year, and term loans set at 3 years.