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Author Topic: [NYIF] Nigeria Youth Investment Fund Registration Form 2020 – How To Apply  (Read 864 times)

Offline Mr. Babatunde

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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.

The registration portal is now open via NYIF

Aim and Benefits of Nigeria Youth Investment Fund

NYIF fund aims to reach 500,000 youth annually between 2020 and 2023. Each fund approval will range from N250, 000 to N50, 000,000, with a spread across group applications, individual applications, working capital loans set at 1 year and term loans set at 3 years with single digit interest rate of 5%.

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 installment basis inline with businesses and NMFB evaluation.

Requirements for Nigeria Youth Investment Fund NYIF Registration Form.

FORMAL BUSINESS ENTERPRISES- Youth Owned Enterprises

1. Duly registered formal business enterprises (Youth owned enterprises) with Corporate Affairs Commission (CAC)

2. Provision of Business plan Summary / Or Completed Questionnaire

3. Evidence of Training Certificate from approved FMYSD EDIs

4. Valid Bank Verification Number (BVNs) of Director

5. Provision of Tax Identification Number (TIN)

INFORMAL BUSINESS ENTERPRISES (INDIVIDUAL & SOLE PRORIETORS)

1. Must be a Nigerian youth within the age bracket of 18 to 35yrs

2. Have an operational business /enterprise domiciled In Nigeria (Those with unregistered business can also apply)

3. Has not been convicted of any financial clime in the last 10 years

4. Valid Bank Verification Number (BVN)

5. Evidence of Local Government Indigene Certificate

INEGIBILITY

1. 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.

2. Beneficiaries of other Government loan schemes that remain unpaid are not eligible to apply.

Documents Required for NYIF Application Form Registration.

1. Training Certificate from approved FMYSD EDIs

2. Evidence of registration with Corporate Affairs Commission (Certificate of Incorporation and Form CAC 2A

3. Valid Bank Verification Number (BVN) for Individuals and Directors

4. Evidence of Local Government Indigene certificate

5. Duly completed Application form

6. A copy of Birth Certificate

7. Valid Tax Identification Number (TIN)

8. A Summary Business plan / Questionnaire

9. Valid means of Identification (Voter’s Card. Drivers License. National ID/NIN Slip 3. International passport)

10. Automated two years bank statement analysis.

How to Apply for Nigerian Youth Investment Fund.

Interested and qualified? Go to Federal Ministry of Youth and Sports Development (FMYSD) on NYIF

NYIF Application Process – Step By Step Guide

Here is a step by step guide on how you can successfully apply for the ongoing Nigeria Youth Investment Fund (NYIF)

Step 1: Visit NYIF Application Portal for the Application Form

Click on the link above to open the NYIF application portal. Once the NYIF portal loads, you will see the application form.

Step 2: Enter Your Personal Information

Enter the following personal information

First Name
Middle Name
Last Name (Surname)
BVN
When you are done filling the above, click the “Next” button

Step 3 – Chose Preferred Training Center

Click on the select box to chose the training center of your choice. The following training center options are available;

National Youth Development Center (North-Central)
National Youth Development Center (North-West)
National Youth Development Center (North-East)
National Youth Development Center (South-East)
National Youth Development Center (South-South)
National Youth Development Center (South-West)
Federal Ministry of Youth Sports and Development


Step 4: Select How You Heard About NYIF

The 4th step is a select box asking you how you knew about NYIF. The following options are available

CBN
NMFB Staff
Facebook
Linkedin
SMS
Google Ads
Facebook

Step 5: Accept NYIF Terms of Service

The 5th step is a check button requesting you to confirm that the information you provided is true and correct. Click on the button to accept

Step 6: Submit Your Application

Click on the submit button to finally finish your application.

Note

No training fees required
Online Training only
Training duration is 5days

The Nigeria Youth Investment Fund registration portal is NYIF.

The youth investment fund application form is found on the page when you open the link above. The youth investment fund portal has no closing date yet.


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