Are you an applicant of the NYIF Loan? We bring you fresh and latest updates on the NYIF Loan.
The Federal Ministry of Youth and Sports Development ( FMYSD) has disclosed that only N3b out of N21b is available for disbursement to youths under the Nigerian Youth Investment Fund (NYIF).
Recall that the nyif loan was approved last year by the Federal Executive Council (FEC), and directed Central Bank of Nigeria (CBN) to N12 billion available for the first tranche fund.
But it was gathered that, the Central Bank of Nigeria (CBN) made available only N3 billion to the NIRSAL Microfinance Bank (nmfb) which some youths have already secured loan.
Nigerian youths are begging on social media and other online platforms for loans to be disbursed to them to enable them improve on their business, as promised.
In the news we gathered this week, we learnt that the Ministry of youths and sports development is in consultation with other partners to expand the loan disbursement.
Note that Disbursement will be through various channels, which will include micro finance, finance firms and deposit money banks regulated by the Central Bank of Nigeria and supported by Bank of Industry.
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