Nigeria Youth Investment Fund (NYIF Loan) Latest Update Today 25th April 2022 | NYIF Disbursement 2022 | NYIF News 2022 | Lapo Microfinance Bank

In Today's NYIF Loan Disbursement 2022 News Update, we wish to clear some misconception about the Disbursement of the NYIF Loan which has continued in the past few days.

Some applicants recieved text messages from LAPO Microfinance Bank, notifying them that their NYIF Loans were approved, instructing them through the text message to contact the stated Phone Number on the message.

It was doubted by many who recieved such text message and dismissed as Scam.

Based on our enquiry, the Text messages such as published below from LAPO Microfinance Bank is genuine and not a Scam.

Just as the Federal Ministry of Youth and Sports Development recently partnered the NPF Microfinance Bank in the disbursement of the NYIF Loan in 2022, it is also partnering the LAPO Microfinance Bank in the disbursement of the NYIF Loan.

Currently, three Microfinance Banks are disbursing the NYIF Loan in 2022 as follows: Nirsal Microfinance Bank, NPF Microfinance Bank and LAPO Microfinance Bank. 

All applicants of the Nigeria Youth Investment Fund who recieved the text message from LAPO Microfinance Bank are advised to note the following and take appropriate action:

(1) Call the Phone number on the Text message (SMS)

(2) Go to the nearest genuine LAPO MFB Branch with 2 Passports and a Valid means of Identification. 

Applicants of the Nigeria Youth Investment Fund should note that the Disbursing Banks as mentioned above do not Shortlist Applicants or Approve the NYIF Loan, rather, Shortlisting and Approval is done by the the Federal Ministry of Youth and Sports Development which is in charge of the implimentation of N75 Billion Nigeria Youth Investment Fund. 

The Ministry had last week announced that it is set to disburse Loans to over 25,000 youths in a new round of the NYIF Loan disbursement.  

"The Nigerian Youth Investment Fund(NYIF) will be disbursed to the beneficiaries within a range of N250,000 (Two Hundred and Fifty Thousand Naira) to N3m(Three Million Naira) depending on the scale of the business and its evaluation", FMYSD stated. 


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