The Ministry however in a recent update stated reasons why not all the applicants of the Loan Scheme were/will be pre-qualified for the training cum loan disbursement.
The Youth and Sports Ministry stated:
"Some applicants were not pre-qualified for loan disbursement for the following reasons:
"Applicants did not provide valid or correct phone number for communications on further steps in the loan application.
"Applicant has existing AGSMEIS or COVID-19 Loan.
"Applicant is older than 35 years old, which puts them beyond the age bracket for youth.
"Applicant has a poor credit rating or currently has a non-performing loan
"Applicant failed to provide a valid BVN.
"Applicants provided incomplete or incorrect BVN.
Related: NYIF Update: Not all the Pre-selected Applicants will be invited for Training - FMYSD
Pre-qualified applicants of the scheme who are among the next batch of the 25,000 will be notified through SMS sent via the Phone Numbers provided during application.
Following the update of requisite informations on the portal nyif.nmfb.com.ng, successful applicants will be sent a Training invitation through the e-mail addresses provided during the application.
The Training Email invitation will contain the time and schedule of each applicant for the training.
Applicants waiting for Training invitation/Training can visit https://youtu.be/5zY-QXGLWao to learn how to log in and use the e-learning portal https://fmysdenterprisetraining.ng for the Nigeria Youth Investment Fund Scheme Entrepreneurship Development Training.
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