Nigerian Youth Investment Fund (NYIF) Application Portal – https://nyif.nmfb.com.ng. The Federal Ministry of Youth and Sports Development, on Thursday, October 15, 2020, flagged off the application for the N75 billion Nigeria Youth Investment Fund (NYIF) recently approved by the Federal Government.
The NYIF is an initiative of the Federal Ministry of Youth and Sports Development and funded by the Central Bank of Nigeria (CBN), which would be spread over 3 years to cater to youth-owned businesses and investment needs. The CBN Youth Investment Fund is dedicated to investing in the innovative ideas, skills, talents and enterprise of the Nigerian youth with the aim of turning them into entrepreneurs.
DESCRIPTION
GENERAL ELIGIBILITY
The Nigerian Youth Investment Fund (NYIF) 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%.
How to Apply
Interested and qualified youths with business ideas that require funding can apply for the fund through the following application portal – https://nyif.nmfb.com.ng/Applicants/New
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