Tuesday, October 20, 2020

Federal Government invites applications for N75bn youth investment fund

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The Minister of Youth and Sports Development, Mr Sunday Dare has inaugurated the application for the Nigeria Youth Investment Fund in Abuja.

He said the Central Bank of Nigeria, in line with the Federal Government’s directive, provided the initial N12.5bn required for the fund to operate in the remainder of 2020.

Dare added that the loan provided under NYIF had an interest rate of five per cent per annum.

According to him youths applying as individuals or non-registered businesses would be able to draw up to N250,000, while youth owned registered businesses could apply for up to N3m