The Federal Ministry of Youth and Sports Development has stated that Loan Approval for the applicants of the Nigeria Youth Investment Fund who have completed their Training is on going while encouraging them to continue checking their status.
The statement was in reaction to several complaints by applicants who said they had completed the online training but were yet to receive approval for their loan applications.
The Ministry encouraged the applicants to continue to check their approval status through https://nyif.nmfb.com.ng/app as the loan approval is on going for the Trained beneficiaries.
Reacting to questions on why applicants who applied for N1 million and above recieved approval for only N300,000 and below, the ministry in a tweet noted that there were many applicants, and to ensure that the loan disbursement reached as many Nigerian youths as possible, the loan amount would need to be reduced for each applicant.
The Ministry had advised the "prequalified applicants who have not recieved text invitation for the compulsory online Training to exercise some patience as they will continue to invite more applicants on daily bases", but in batches, after which their loans would be considered for approval.
Selected applicants who are yet to participate in the training were encouraged to visit https://youtu.be/5zY-QXGLWao to learn how to log in and use the e-learning portal https://fmysdenterprisetraining.ng for the Nigeria Youth Investment Fund Scheme Entrepreneurship Development Training.
The Selection for the training according to the ministry is made from the list of pre-qualified applicants who have successfully completed their loan application through the loan application portal https://nyif.nmfb.com.ng/app and have met the requirements for further participation in the loan approval process.
The Ministry added that applicants who have not been pre-qualified should not panic as Pre-qualification is on going, and Pre-qualified applicants who are yet to complete there loan application, should as quickly as possible complete the stage so as to stand a chance in the next batch of the Training invitations.
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