NYIF Registration portal and application guide for the National Youth Investment Fund (NYIF) on nyif.nmfb.com.ng.
NYIF Registration Form – Latest Guide
Name: National Youth Investment Fund (NYIF)
Mission: Youth Investment
Established: October 2020
Official Website: https://nyif.nmfb.com.ng/
This is a detailed guide on NYIF Registration and application for all Nigerian youths who are interested in the National Youth Investment Fund (NYIF).
The National Youth Investment Fund (NYIF) was unveiled in October 2020 as the Federal Government aims to invest in creative ideas, skills and invest in the youth.
The Federal Government of Nigeria has set aside funds to further help the Nigerian Youth as the seek to empower even more.
This is an Initiative of the Federal Ministry of Youth and Sports Development funded by The Central Bank of Nigeria; through NIRAL Microfinance Bank.
The NYIF loan is targeted to 500,000 youth annually and will run between October 2020 to 2023.
The NYIF fund for all eligible youth ranges between N250,000 and N50,000,000 with a single-digit interest rate currently pegged at 5%.
The NYIF loan tenor is a maximum of 5 years with a moratorium maximum of 12months based on NMFB evaluations and business structure.
Who is Eligible for NYIF Funds?
Below are the eligibility requirements to apply for the National Youth Investment Fund (NYIF).
- Every Nigerian between the ages of 18 and 35years
- Approved FMYSD EDIs Training Certificate
- Duly documented Business Plan Summary
- Every Youth Owned Formal Business Enterprise
- LGA indigene certificates and void of financial crimes within the past 10years
- Operational Business
- Provision of Valid BVN (Bank Verification Number) of assigned Business Director
- Registered Business enterprises with the Corporate Affairs Commission (CAC)
- Submission of Tax Identification Number (TIN)
Who is NOT Eligible for NYIF?
Below are details that will disqualify you from the National Youth Investment Fund (NYIF) initiative.
- Every previous beneficiary of NMFB loans and Agribusiness/Small and Medium Enterprises Investment Scheme (AGSMEIS) and unpaid bother not to apply
- Every previous beneficiary of any other Nigerian Government loan schemes and unpaid bother not to apply
- Individuals with financial crime records within the last 10years should not apply
- Individuals who cant prove their identity with valid documentations to back their claims will not be eligible
NYIF Loan Requirements
Here are some of the known requirements for NYIF Registration as seen on nyif.nmfb.com.ng
- Identification (First Name, Middle Name, and Surname)
- Phone Number (A Valid phone number is required to apply)
- BVN Number – (A valid Bank Verification Number, BVN)
- Select a preferred Training Centre
- Select your Geo-Political Zone
How to apply for NYIF on nyif.nmfb.com.ng?
Herewith are some simple guide on how to apply for NYIF registration procedures online
1. Visit NYIF Application Form
- Visit the official National Youth Investment Fund (NYIF) portal on https://nyif.nmfb.com.ng/Applicants/New
- Type in your First name, Middle Name, Last name, and BVN
2. Select Preferred Training Center
- North-Central NYIF Scheme
- North-West NYIF Scheme
- North-East NYIF Scheme
- Federal Ministry of Youth Sports and Development
3. Select How you heard about the National Youth Investment Fund NYIF
- NMFB Staff
- Google Ads
4. Accept NYIF Terms and Submit Application
Before submitting your application, make sure to accept NYIF term and note the below points:
- No Training Fees required
- Online Training only
- Training Duration, 5days
NYIF Shortlisted Candidates
All successful individuals, youths, and businesses will be contacted directly by the initiative as appropriate and you are not to part with your funds to get that.
We use this medium to notify all NYIF Shortlisted candidates and applicants that they are NOT TO PAY ANY INDIVIDUAL, GROUP, OR PERSONNELS.
When it is due for all shortlisted candidates to be contacted, they will be appraised as applicable.
NYIF News Updates
- You are to submit all required details where applicable
- You will be requested to provide details of business registration with the Corporate Affairs Commission (Certificate of Incorporation and Form CAC 2A)
- All individuals and directors are required to provide a valid means of identification and Bank Verification Number (BVN)
- There are reports of the requirements for a copy of Birth Certificates (Individuals and Directors) and two years of bank statements. These details we believe can be gotten from the BVN already submitted.
- There are reports of a virtual interview or training. These are yet to be confirmed and when they are, we will update you as appropriate.
NYIF Entrepreneurship Training on WhatsApp
There is a 5days WhatsAp training for those that applied for the NYIF Entrepreneurship program by the Federal Government.
Details of this are still circulating and the group will be based on Batches.
NYIF WhatsAPP Group Timeline Updates
So, we’ve been monitoring the National Youth Investment Fund (NYIF) WhatsApp group, and here are our updates.
We joined the 1st group of which we were later moved to another group (NYIF Entrepreneurship Training Group 2)
The training was scheduled for 6 pm every day for 5days and below are some of the training guides in brief.
- Types of Entrepreneurs – Social Entrepreneurs and Commercial Entrepreneurs
- Attributes / Characteristics of an Entrepreneur – Enterprising, Networker, Risk-taker, Resourceful, Endurance, Eager, Hard work, and Future-oriented
- What brings business opportunities? – 1. Poor delivery, 2. Overpriced products, 3. New technology, 4. New markets, 5. Change in social attitudes, 6. Regulatory regime change and 7. Natural disasters
- Make sure your business idea is SMART – Specific, Measurable, Achievable, Result-oriented, and Target bound
- Importance of Entrepreneurship – Creation of Employment, Innovation, Impact on Society, Increase Standard of Living and Supports research
NYIF Application by States
- Abia State
- Adamawa State
- Akwa Ibom State
- Anambra State
- Bauchi State
- Bayelsa State
- Benue State
- Borno State
- Cross River
- Delta State
- Ebonyi State
- Edo State
- Ekiti State
- Enugu State
- Gombe State
- Imo State
- Jigawa State
- Kaduna State
- Kano State
- Katsina State
- Kebbi State
- Kogi State
- Kwara State
- Lagos State
- Minna State
- Nassarawa State
- Niger State
- Ogun State
- Ondo State
- Osun State
- Oyo State
- Plateau State
- Rivers State
- Sokoto State
- Taraba State
- Yobe State
- Zamfara State
NYIF Certificate, Business Plan, and Modules
1. NYIF Business Modules
Three business modules were shared as PDF. these include:
- Business Idealization
- Business Financing
NB: We can’t share the PDF files here due to copyright laws and fair usage.
2. NYIF Certificates
There is information shared on payments of N990 for the NYIF certificates that will be delivered to participants.
We are yet to get clarity on these as we were earlier told “DO NOT PAY anyone any fund for this training” – Does this include the certificate? Once we get credible information and feedback, we will update this NYIF registration guide.
3. NYIF Business Plan
There was a report of people requesting for N10,000 for the NYIF Business plan (THIS IS NOT TRUE).
The National Youth Investment Fund (NYIF) business plan schedule is FREE and the scheme will provide a business plan sample FREE to all participants in due time.
NMFB Portal and Contact for NYIF application
The link for NYIF registration is https://nmfb.com.ng/nigeria-youth-investment-fund.
Below are the Zonal contacts of the Ministry of Youth and Sports Development.
Inquiries about the National Youth Investment Fund (NYIF) can be gotten based on the state you applied from.
- South-South Zone (07047024251)
- North-East Zone (07047598382)
- North-West Zone (08181127180)
- South West Zone (08152947812)
- North Central Zone (07087792103)
- South East Zone (07053820081)
We will keep updating this page.
NYIF Frequently Asked Questions (FAQ)
- What is NYIF? – NYIF stands for National Youth Investment Fund. An initiative by the Federal Government to empower SME’s in Nigeria
- Is NYIF for Individuals or Registered Companies? – Both individuals and registered companies can apply for NYIF.
- How many times can I register for NYIF? – Once. Every Nigerian is entitled to register for this scheme once with their real details as stated.
- How are NYIF participants trained? – NYIF successful candidates embarked on virtual training through WhatApp groups where they are trained in the grassroots of business.
More Federal Youth Initiatives