NYIF Loan Update: Reason Why Some Applicants Were Not Pre-qualified For Loan Disbursement

NYIF Loan Disbursement – The NYIF today gives an update regarding why Some applicants were not pre-qualified for loan disbursement.

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According to NYIF, Some applicants were not pre-qualified for loan disbursement for the following reasons:

1. Applicants did not provide valid or correct phone number for communications on further steps in the loan application

2. Applicant has existing AGSMEIS or COVID-19 Loan

3. Applicant is older than 35 years old, which puts them beyond the age bracket for youth

4. Applicant has a poor credit rating or currently has a non-performing loan

5. Applicant failed to provide a valid BVN

6. Applicants provided incomplete or incorrect BVN.

NYIF also started that Another batch of 5,000 have been pre-qualified for training ahead of final clearance for disbursement.

Beneficiaries and applicants are reminded that the Nigeria Youth Investment Fund (NYIF) disburses repayable loans to the youth and not grants.

The Ministry for Youth and Sports Development is in consultations with other partners to expand the loans disbursement platform in order to fast track the youth access to the Fund.

NYIF Loan Update

For more information or In case you have any complaints / questions please send an email to: nyif@youthandsport.gov.ng 

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