The Federal Ministry of Youth Development and Sports has maintained the disbursement and approval of the Nigeria Youth Investment Fund (NYIF loan) of N75 billion to trained beneficiaries.
The 10,000 newly trained applicants said they had received a text message and email confirming their loan approval and instructions on how to disburse the funds to their bank accounts.
The message reads
“You have been selected as a beneficiary of the National Youth Investment Fund. Check your email for details, dial *5757#, download the NPF Microfinance Bank app or visit our branch,” reads a text message provided by an accredited NYIF loan distribution partner (NPF MFB PLC) to recipients. retained, which was misinterpreted for a scam text. For more information, check your emails, dial *5757#, download the NPF Microfinance Bank app or come to our branch.
One of the emails reads: “Dear NYIF recipient, The Federal Ministry of Youth and Sports partners with NPF MFB Plc as one of the disbursing parties of the National Youth Investment Fund ( NYIF) nationwide.
“Your name/SME has been forwarded to us as one of the winners”
- Visit our website www.npfmicrofinancebank.com to open an account.
- Through our USSD *5757#
- Download the mobile app via Play Store or Apple Store
- Visit one of our branches closest to your location as listed below”
The Nigerian Youth Investment Fund (NYIF), set up last year by the federal government to support young Nigerian entrepreneurs seeking to start their own businesses, was set up to approve loans to successful applicants.
Candidates who have successfully completed an online entrepreneurship training should follow these steps to check their loan status:
- Applicants should visit the NYIF portal nyif.nmfb.com.ng.
- Enter your login credentials in the NYIF Dashboard(username and password).
- Then click Check Loan Status.
A dialog box will appear indicating the status of your loan if it is approved or still pending.