Loan Disbursement: 5000 Applicants Shortlists for Training
NYIF Training Update : What After The Training?
The Ministry of Youth and Sports Development has shortlisted 5000 applicants for training as part of the processing and disbursement of the Nigeria Youth Investment Fund ( NYIF ).
Bossvibe gathered that the shortlisted applicants will commence the online training on Tuesday, March 23, 2021. An internal document of the Ministry disclosed that it has sent out “invitations by emails to the 5,000 applicants batched by NMFB (NIRSAL Micro Finance Bank).
“Applicants were given admission letters and e-copies of training modules for five courses to read ahead of the training and also for future reference.
“The training on the Ministry’s training portal will run from Tuesday, March 23, 2021, and end on Saturday, March 27, 2021,” the document stated.
Recall that the pilot phase took place between December 2020 and January 2021 with 239 beneficiaries. Another batch of 529 beneficiaries of the NYIF were contacted in February 2021.
Application for the first tranche of N12.5 billion of the Fund, which opened in October 2020, closed on February 28, 2021.
The Nigerian Youths Investment Fund (NYIF) which was established in support of the Federal Government of Nigeria (FG) and the Central Bank of Nigeria (CBN) and NIRSAL Microfinance Bank by providing loans to young Nigerian entrepreneurs.
The program has now reached the final stage of online entrepreneurship education. Although the training shifted due to unprecedented technical problems experienced by the candidates during training. Many are concerned that they are unaware of what the federal government plans to do next for qualified candidates.
So from our findings and research in relation to this Government Empowerment Program (NYIF), we have been able to gather that the next plan by the federal government after training is to distribute funds to quality candidates.
The NYIF Funds Authority said in a recent memo that trends on social media have clarified the suspicion of deportation of funds to applicants. According to the Honorable Minister of Youth and Sports Development, the distribution of funds will start immediately after online entrepreneurship training.
At the end of this information, all applicants are advised to use patience as disbursement will begin immediately after training.