Check Out Guidelines For N75bn Youths Investment Fund as Released By CBN

Published On: October 29, 2020, 2:13 pm (3 weeks ago)
Author: Olusanya Akinrinola

The Central Bank of Nigeria (CBN) has released guidelines for the implementation of the proposed N75 billion Nigerian Youth Investment Fund (NYIF).

CBN, in a statement by its Development Finance Department, stated that the fund would be used effectively to respond to the challenge of youths employment in Nigeria.

According to the statement, the major objective of the plan was to address fragmentation of youths initiatives that prevent assessment of impact.

The apex bank said that the fund was dedicated to investing in the innovative ideas, skills and talents of Nigerian youths, adding that the funds are to be managed by NISRAL Microfinance Bank.

“The Federal Executive Council on July 22, approved N75 billion for the establishment of the NYIF from 2020 to 2023.

“It will provide Nigeria youths with investment inputs required to build successful businesses that can become sustainable employers of labour and contributors to the country’s development.

“The plan targets young people between 18 and 35 years and details the needed actions required to support business establishment, expansion and consequent employment creation for youths in critical economic and social sectors,” it stated.
”’Also, we will institutionally provide the youths with special window for accessing the funds, finances, business management skills and other inputs critical for sustainable enterprise development.

“The fund aims to financially empower youths to generate at least 500,000 jobs between 2020 and 2023.

“This will also generate much-needed employment opportunities to curtail youths restiveness, boost their managerial capacity and develop their potential to become the future large corporate organisations,’’ the statement said.

Posted: (3 weeks ago) on 29-10-2020 02:13 PM | Hero
Audio money
Posted: (3 weeks ago) on 29-10-2020 02:18 PM | Newbie
After 2 weeks, we no go hear about this again. And even if we do, nah dem dem go still hijack am... just like the Billions raised in palliatives.
Posted: (3 weeks ago) on 29-10-2020 02:35 PM | Gistmaniac
Story story story......Once upon a time the association of MELU MELU looters said they want to share money to the animal farm country....At Las the money was audio,and the money wasn't sent.....What happened to ogun? A bag of cement now is 4000 naira and still rising in that failed country....The hardship is getting worst every second of the day,when you look up all I see is frustrated youths
Poverty,anger, hunger, no hope.... Nigeria is now a hell fire that no one should remain here.....
Posted: (3 weeks ago) on 29-10-2020 05:00 PM | Gistmaniac
Once it's out, if you are within the age bracket, please apply for it. Truth is, no matter what you say, they will do anything as a reason for taking out money out of treasury. If you don't apply they will still take it.
Posted: (3 weeks ago) on 29-10-2020 05:18 PM | Gistmaniac