NYIF:FG releases updates on 75 billion fund scheme

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The federal government has released updates to address some challenges being faced by applicants on the N75 billion Youth Investment Fund portal recently opened.

The Minister of Youth and Sports Development, Sunday Dare, said the NYIF initiative is dedicated to investing in the innovative ideas, skills, talents and enterprise of the Nigerian youth with the aim of turning them into entrepreneurs.

The NYIF to the tune of N75 billion is being funded by the Central Bank of Nigeria (CBN).However, some applicants have complained of having issues filling the form as the system keeps rejecting their Bank Verification Number, BVN, on the basis that names supplied during the registration are not correlating with the one on the portal.

Addressing the issues of BVN, the NYIF tweeted; “If the portal says the name you provided does not tally with that on your bvn information, we certify that this report is correct. Just now, we experimented with a young lady’s account whose real name is “Prisca”. Bankers made a mistake while registering her BVN.”

“It could be different from what your bank details carry. Go for proper verification. Don’t try to correct it now either as that might take a long time to reflect.”

Also addressing complaints of not receiving mail notification after completing the form, NYIF tweeted; “Please do not panic if you don’t receive any confirmation mail after registering for the funding opportunity. We are currently not sending any at the moment. Every successful applicatant would see a success message at the end of their application.

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