NYIF loan: Latest on Nigeria Youth Investment Fund loan

The Federal Ministry of Youth and Sports development has maintained the disbursement and approval of the N75 billion Nigeria Youth Investment Fund (NYIF Loan) to the trained beneficiaries.

The 10,000 candidates who were recently trained, made it known that they received a text message and email confirming their Loan Approval and instructions on how to get the funds into their bank accounts.

The Message reads

“You have been selected as a beneficiary of the National Youth Investment Fund. Check your e-mail for details, dial *5757#, download NPF Microfinance Bank App or Visit our Branch,” reads a text message provided by an accredited partner in the NYIF Loan distribution (NPF MFB PLC) to the successful recipients, which was misinterpreted for a scam text. For further information, check your e-mail, dial *5757#, download the NPF Microfinance Bank App, or come to our branch.”

One of the e-mails states, “Dear NYIF Beneficiary, the Federal Ministry of Youths and Sports is partnering with NPF MFB Plc as one of the Disbursing parties for the National Youth Investment Fund (NYIF) nationwide.

“Your name/SME has been forwarded to us as one of the successful”

1. Visit our website www.npfmicrofinancebank.com to open an account.
2. Through our USSD *5757#
3. Download the mobile App through Play Store or Apple Store
4. ViSit any of our branches nearest to your location as listed below”

The Nigerian Youth Investment Fund (NYIF), set up last year by the federal government to support young Nigerian entrepreneurs looking to start their own businesses, was set up to approve loans for successful candidates.

Applicants who have successfully completed online entrepreneurship training should take the following steps to check the status of their loan:

1. Applicants are to Visit the NYIF portal nyif.nmfb.com.ng.
2. Provide your login details in the NYIF dashboard(Username and Password).
3. Then Click on Check Loan Status.

A diaglog box will appear showing your loan status if approved or still pending.

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