As part of the government’s effort to reduce the economic effect of the coronavirus pandemic on the Nigerian economy, various loans/grants schemes were launched and were made available for business owners operating in the micro, small and medium Enterprise sector. They include MSME Survival Fund, SMEDAN grants and loans among others.
One of the Grant schemes launched by the federal government is the Nigerian Youth Investment Fund (NYIF), which aims at providing loans to beneficiaries after a series of training. This was among the earliest relief fund program to be announcing.
There are reports that beneficiaries for this have already received from the scheme. Out of about 3 million applicants, only 500 were selected. Out of the 500, only 393 have successfully benefited as the rest couldn’t due to issues with their accounts; majorly inability to receive huge sums.
To know if you have been selected, check your account statement
