Just recently, the CBN released some necessary criteria for the NYIF Application 2020. On that note, we shall be discussing much on the subject matter in other to give you a guide on how you can access the N75billion Nigeria Youth Intervention Fund.
The Nigeria Youth Intervention Fund was launched on 15th October, 2020 by the Federal Government of Nigeria led by President Muhammad Buhari to help sponsor youths within the ages of 18 – 35years who are in business.
The fund is divided into two sections and they are;
Informal enterprise otherwise known as sole proprietors are small scale businesses owned and managed by one person. This type of business sometimes do not have staff employed to perform a particular duty as the the whole duty is performed by the business owner.
Formal enterprise or company as the case may be are way too bigger than informal enterprise with so many staff. This type of enterprise cannot be managed by one person.
Having told you all that, now let’s get download with the criteria for a successful NYIF Application.
Criteria for NYIF Application 2020
- Be a youth within the age bracket of 18-35 years
- Have business/enterprises domiciled and operational in Nigeria
- Has not been convicted of any financial crime in the last 10 years
- Has a valid Bank Verification Number (BVN)
- Possess Local Government Indigene Certificate.
- Evidence of registration with the Corporate Affairs Commission (Certificate of Incorporation and Form CAC 2A)
- Business questionnaire
- List of Directors with BVN numbers
- Evidence of regulatory approvals (where applicable)
- Tax Identification Number (TIN).
How to Apply
To successfully apply for the NYIF Application 2020, you must do so in the Nigeria Youth Intervention Fund portal at www.nyif.nmfb.com.ng.
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