Nigeria Youth Investment Fund (NYIF): FG Disburses N165.7 Million Loans to 239 Beneficiaries

The Federal Government said it has disbursed N165.7 million loans to 239 beneficiaries under the Nigeria Youth Investment Fund (NYIF) being managed by the Ministry of Youths and Sports.

The disbursement was the first of over three million applications received and currently being processed by the ministry.

In a series of tweets put out on Wednesday, the presidency said “The Nigeria Youth Investment Fund (NYIF), being implemented by @NigeriaFMYS, has successfully completed its pilot disbursement of loans totaling N165,700,000 to 239 beneficiaries ahead of the processing of the over three million applications so far received.”

“The Fund, approved by the Federal Executive Council on July 22, 2020, is being implemented by @NigeriaFMYS in partnership with @cenbank and @FinMinNigeria and is being disbursed through @NirsalMFB.“