NYIF: How to apply for the Nigerian youth investment fund
Written By
Joy EmehWriter| Editor| Content Strategist
The NYIF application form is available for interested applicants. The Nigeria Youth Investment Fund, NYIF is set to provide fund for individuals and youth-owned enterprises.
For NYIF registration, the NYIF application form can be downloaded on the Nigerian Youth Investment Fund portal. The process for the application to the Nigerian Youth Investment is easy if you follow our guidelines here.
Application is ongoing and interested applicants are encouraged to download the NYIF application form and follow the guideline here for a successful application.
All about Nigeria Youth Investment Fund (NYIF) registration
The Nigerian Youth Investment Fund, NYIF was set up as an initiative of the Federal Ministry of Youth and Sports Development (FMYSD).
NYIF is funded by the Central Bank of Nigeria (CBN) to invest in youth ideas to build sustainable businesses that can activate enterprise and increase job opportunities in Nigeria.
According to the Nigeria Youth Investment Fund organizers, The NYIF fund is dedicated to investing in the innovative ideas, skills & talents of Nigerian youths aimed at turning them into entrepreneurs, wealth creators and employers of labour, contributing to national development.
The Nigerian Youth Investment Fund targets young people between the ages of 18-35 years and details the needed actions required to support business establishment, expansion and consequent employment creation for youth in critical economic and social sectors.
The Federal Ministry of Youth and Sports Development, on Thursday, October 15, 2020, flagged off the application for the N75 billion Nigeria Youth Investment Fund (NYIF) recently approved by the Federal Government.
Any youth who wish to apply as an individual or a non-registered business could draw up to N250,000, while youth-owned registered businesses could apply for up to N3 million.
Eligibility for Nigerian Youth Investment Fund (NYIF) registration
According to the NYIF governing body, Individuals and non-registered Businesses, as well as registered Businesses, are eligible to apply for the National Youth Investment Fund.
NYIF application requirements for Individuals & non-registered Businesses
If you are an individual or a non-registered business looking to apply for NYIF, the Nigerian Youth Investment Fund programme, here are the requirements or criteria:
- Individual must be a Nigerian within the age bracket of 18 to 35 years.
- Has a valid BVN and means of ID.
- Provision of Business plan Summary or Completed Questionnaire.
- Entrepreneurship Training Certification from FMYSD Entrepreneurship Development Institutes (EDIs).
- Individual must have a Valid Email address and phone number.
NYIF application requirements for Registered Businesses
For registered businesses looking to apply for NYIF, the Nigerian Youth Investment Fund programme, here are the requirements or criteria:
- Formal business enterprises (Youth owned enterprises), duly registered with the Corporate Affairs Commission (CAC).
- Business plan Summary or Completed Questionnaire.
- Valid Bank Verification Number (BVNs) of Directors.
- Provision of Tax Identification Number (TIN).
- Entrepreneurship Training Certification from FMYSD EDIs.
Note:
NYIF registration requires BVN as a form of identification; you need not worry if you cannot get hold of your BVN. Here is a guide on how to check or access your BVN.
How to Apply for NYIF registration, 2020, for non-businesses
For the initial phase of the National Youth Investment Fund application and registration; all you need is:
- A valid BVN
- a valid Phone number, and
- a valid email address
Please note:
Your first, middle and last name used in the NYIF application form must be in the same order as used in your BVN enrollment.
The NYIF application is a straightforward process and can be done within seconds if you follow the right process. To register for the Nigeria Youth Investment Fund (NYIF),
1. Enter the NYIF Application Portal to begin the registration
The First step in the NYIF application process is to visit the application portal. With a browser, visit Nigeria Youth Investment application portal then click on the 'Apply' button on the website to proceed.
Once you are in the NYIF application portal click on the 'Apply' button to proceed.
2. Input your details for validation
Below is the second step the for Nigerian Youth Investment Fund application. After clicking on the 'Apply' button wait for the page to load a form where you are required to input:
- Your Name and
- BVN
3. Select your Preferred training Centre
Here you are required to choose a preferred Centre location.
The Locations available are based on Nigeria's six geopolitical zones. Please note that no physical attendance required; the training will be online.
Choose your prefered centre location for training.
4. Select how you heard about the Nigeria Youth Investment Fund.
Do not worry; You are almost done with the NYIF registration and application.
How did you hear about NYIF?
NYIF wants to know how you heard about them, so tell them by selecting the medium where you read about NYIF.
Congratulation!
You are done with the NYIF registration nd application. All you can do now is wait for a response from the Federal Government.
Now that you are done applying for the Federal Government's NYIF, remember to always check your phone and email for updates from the Federal Government.
How to Apply for NYIF Registration 2020: For registered Businesses
The Central Bank of Nigeria (CBN), has disclosed businesses and activities that are eligible to benefit from the Nigeria Youth Investment Fund (NYIF).
Registered Businesses wishing to apply for the Nigerian Youth Investment programme, should provide the following details as listed below. Then click the link in the next line.
- Email address
- Personal name
- Business name
- Address
- Business type
- CAC registration details
Click here to apply for the Nigeria Youth Investment Fund as a registered business.
Businesses Ineligible to apply for NYIF Registration 2020
In the publication, applicants who are ineligible to apply for the Nigerian Youth investment fund include:
- Applicants that are currently enjoying NIRSAL Microfinance Bank (NMFB) loans – which includes Targeted Credit Facility (TCF) and Agribusiness/Small and Medium Enterprises Investment Scheme (AgSMEIS) loans, that remains unpaid.
- Also, beneficiaries of other government loan schemes that remain unpaid are not eligible to participate in this scheme.
Beware!
The FG will never contact you to pay a processing fee, the NYIF registration and application is completely free. Do not be a victim of fraud.
Eligible Businesses/activities to Apply for NYIF Registration 2020
The CBN also outlined in the framework, the businesses and activities that are legally allowed to be eligible in the scheme. These include:
- Technology/Innovation
- Agriculture and related value chain
- Green Economy and Renewable energy sector
- Manufacturing
- Hospitality/Tourism
- Construction
- Logistics and supply chain
- Healthcare value chain
- Creative sector
- Trading and services
- Others as may be determined by NYIF/CBN from time to time.
The CBN, however, states that preference shall be given to enterprises that will support the growth of priority sectors.