FG Gives Important Update On N75bn Nigerian Youth Investment Fund

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

Naija News understands that the NYIF initiative, announced by the Minister of Youth and Sports Development, Sunday Dare on July 22 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 initiative – NYIF to the tune of N75 billion is being funded by the Central Bank of Nigeria (CBN), Naija News reports.

However, some applicants have reported 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 correlating with the one on the portal.

To address the issues, the ministry took to its account on the microblogging site purposely created for the initiative to release guidelines and as well give clarification on the ‘challenges’ been experienced.

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.

Click HERE to register for the NYIF initiative.

In another news, the Academic Staff Union of Universities (ASUU), on Thursday, gave an indication that the union will suspend its prolonged strike very soon, as its President, Prof Biodun Ogunyemi, declared that the varsity lecturers are ready to go back to school.