NYIF: Upgraded Accounts Being Compiled, Disbursement to Follow Shortly, FMYSD Confirms.
Did you apply for Nigeria Youth Investment Funds? Are having issues or questions why the funds are yet to be disbursed? If yes then worry no more, because this post is for you.
The Federal Ministry of Youth and Sports Development has stated that trained applicants of the Nigerian Youth Investment fund whose loans were approved but were yet to recieve their payments, would in no distant time rejoice as the situation is being worked on.
This is a follow up to some applicants whose loans were approved but could not recieve their payments due to their bank accounts being unable recieved the amounts approved for them.
The Ministry in a tweet, Thursday, noted that “all valid and upgraded account numbers are being compiled, once compilation is completed, the Loan will be processed and disbursed.”
Recall that the Ministry in a press statement earlier this week announced that it has disbursed N1.31 billion to atleast 4,680 beneficiaries under the NYIF from the first tranche of N12.5 billion released for the programme.
All valid and upgraded account numbers are being compiled, once compilation is completed, the Loan will be processed and disbursed.
Please DO NOT share your personal details and your BVN on Twitter
— Nigeria Youth Investment Fund (NYIF) (@FMYSD_NYIF) May 13, 2021
The overal disbursement of N1.31billion is just 10.48% of the allocated fund of 12.5 Billion for the first year of the programme.
The Director of Press, Federal Ministry of Youth and Sports Development, Mohammed Manga then called for patience among the applicants of the programme, assuring that more disbursement will be made in the coming weeks.
If your loan has been approved and account upgraded, expect your payment in no distant time.
Also, all prerequisite processes including pre-qualification, Training Invitation, Training etc would commence soon.
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NYIF: Upgraded Accounts