Nigerian Youth Investment Fund (NYIF) Registration Form 2021- Apply Here.
This article is about the Nigerian Youth Investment Fund (NYIF) Registration Form 2021. In this article about NYIF Registration, you will get all the information you need, so keep reading to stay informed.
Nigerian Youth Investment Fund (NYIF) is a government initiative created to support youths in business financially. The Nigerian youth investment fund application portal is now open for the Nigerian Youth to submit their applications. The Nigeria youth investment fund (nyif) application portal opened on 13th of October 2020 and it’s for Nigerian Youths from the age of 18- 35 years that met the requirements.
Benefits and Aims of Nigeria Youth Investment Fund NYIF
The Nigerian Youth Investment Fund has many benefits, some of the benefits of this program are highlighted below.
- The fund is aiming at reaching N500, 000 youths between 2020 and 2023. Each fund approval ranges from N250, 000 to N50, 000, 000.
- GLOBAL LIMIT : N12.5 billion
- FACILITY TYPE : Term Loan
- SINGLE OBLIGOR LIMIT: Individual / Non registered Business: Up to #250.000.00 | Registered Businesses( Business Name, Limited liability/ Corporative Societies / Commodities Associations): Up to N3,000.000.00.
- LOAN TENOR : Maximum of 5 years
- MORATORIUM: Maximum of 12 months
- Repayment Structure: Repayment will be on an installment basis inline with businesses and NMFB evaluation.
Requirements for Nigeria Youth Investment Fund NYIF
Here are the requirements for the NYIF.
- Your Bank Verification Number
- You must be 18 Years and Above
- Your Biodata
- Your Bank Account Number
- A valid means of identification such as a National ID Card.
Please note the following are ineligible to Apply;
- Beneficiaries of NMFB loans (such as Targeted Credit Facility TCF) and Agribusiness/Small and Medium Enterprises Investment Scheme (AGSMEIS) that remain unpaid are not eligible to apply.
- Beneficiaries of other Government loan schemes that remain unpaid are not eligible to apply.
Documents Required for Application
- Training Certificate from approved FMYSD EDIs
- Evidence of registration with Corporate Affairs Commission (Certificate of Incorporation and Form CAC 2A
- Valid Bank Verification Number (BVN) for Individuals and Directors
- Evidence of Local Government Indigene certificate
- Duly completed Application form
- A copy of Birth Certificate
- Valid Tax Identification Number (TIN)
- A Summary Business plan / Questionnaire
- Valid means of Identification (Voter’s Card. Drivers License. National ID/NIN Slip 3. International passport)
- Automated two years bank statement analysis.
How to Apply for the Nigeria Youth Investment Fund NYIF
Interested Applicants should visit the NYIF Registration Portal and ensure they fill in their information correctly before submitting their data online.
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