NYIF Update: Not all the Pre-selected Applicants will be invited for Training - FMYSD

Thousands of the applicants of the Nigeria Youths Investment Fund have bombarded the Federal Government with questions bordering on the processes involved in the implementation of the Scheme.

Reacting to questions on the selection of applicants prio to engagement for the online Training, the Federal Ministry of Youth and Sports Development (FMYSD) emphasised that the Pre-qualification is to enable the applicants apply for the Loan, and as such, provide all the required information to determine the suitability of the applicant for the loan.

However, after the Loan application, only applicants whose loan application meet the required criteria, are qualified to be invited for the Training.

"After Loan Application for the NYIF, only those who qualify will be shortlisted for Traning before Loan disbursement. Please DO NOT share your personal details and your BVN on Twitter," FMYDS stated.

After Loan Application for the NYIF, only those who qualify will be shortlisted for Traning before Loan disbursement.
Please DO NOT share your personal details and your BVN on Twitter

— Nigeria Youth Investment Fund (NYIF) (@FMYSD_NYIF) May 13, 2021

This reveals that the informations supplied during the Loan application (basically Financial Informations), are used to examine an applicant before the Training Invitation.

Related: NYIF: Financial Information, the bait for disqualification

FMYSD further clarified that currently, no Training has been scheduled but soon, next batch of applicants would be invited for Training through their stated e-mail addresses.

The Ministry in the several Tweets while responding to applicants questions encouraged applicants whose Loans have been approved to exercise some patience as the Loan disbursement is done in batches.

The Ministry had earlier last week disclosed that all valid and upgraded account numbers sent in by applicants who could not recieve their payments due to approved loan exceeding their account limits, are being compiled, adding that once compilation is completed, the Loan will be processed and disbursed.

Related:

• NYIF: Upgraded accounts being compiled, disbursement to follow soon, FMYSD says

• NYIF: More Pre-qualification, Training, Approval and Disbursement assured as only 10.48 per cent of Fund disbursed

Similarly, N1.31 billion has been disbursed to 4,680 beneficiaries under the Nigeria Youth Investment Fund (NYIF) from the first tranche of N12.5 billion released for the programme.