The application portal for the N75bn Nigeria Youth Investment Fund (NYIF) is officially opened for registration.
Presidential aide, Bashir Ahmad who made the announcement stated that Nigerian youths between the ages of 18-35 with business ideas that require funding can apply for N250,000 – N5,000,000.
IMPORTANT: The application portal for the N75bn Nigeria Youth Investment Fund (NYIF) is officially opened for registration. Youths (18-35 yrs) with business ideas that require funding can apply for N250,000 – N5,000,000. Visit http://nyif.nmfb.com.ng for more details. Kindly RT
Brief summary about Nigeria Youth Investment Fund (NYIF):
Nigerian Youth Investment Fund NYIF is a government initiative created to boost the Nigerian economy through leverage and access to finance for youths. The fund hopes to serve as a catalyst to unleash the potential of the youth and enable many of them build businesses that will increase the employment rate.
CBN lists conditions young Nigerians must meet to access N75 billion Youth Investment Fund:
Both informal and formal business enterprises will benefit from the scheme. For individuals or sole proprietors of informal enterprise to be eligible, they must fulfil the following conditions:
(i) Be a youth within the age bracket of 18-35 years.
(ii) Have business/enterprises domiciled and operational in Nigeria.
(iii) Has not been convicted of any financial crime in the last 10 years.
(v) Has a valid Bank Verification Number (BVN)
(vi) Possess Local Government Indigene Certificate.
For the formal business enterprises (Youth Owned Enterprises), that are legal entities duly registered with the Corporate Affairs Commission (CAC) these require the following documents;
(i) Evidence of registration with the Corporate Affairs Commission (Certificate of Incorporation and Form CAC 2A);
(ii) Business questionnaire;
(iii) List of Directors with BVN nos.;
(iv) Evidence of regulatory approvals (where applicable);
(v) Tax Identification Number (TIN).