CBN’s Youth Investment Fund Now Receiving Applications

Youth-owned enterprises can now apply for the N75 Billion Nigeria Youth Investment Fund (NYIF) through NIRSAL Micro Finance bank.

The fund which aims at improving access to finance for youth-owned enterprises wants to generate at least 500,000 jobs in the country between 2020 to 2023.

Nigerian youths within the ages of 18 – 35 can access up to three million Naira (250,000 Naira for individual or unregistered businesses) at an all-inclusive interest rate of five per cent per annum with a maximum tenor of five years and 12 months moratorium.


To be eligible for the fund your business must meet the following requirements and fall under the following categories:

  • Technology/ Innovation.
  • Agriculture and related value chain
  • Green Economy and Renewable energy sector
  • Manufacturing
  • Hospitality/ Tourism
  • Construction
  • Logistics and supply chain
  • Healthcare value chain
  • Creative sector
  • Trading and Services
  • Others as may be determined by FMYSD/CBN from time to time

Formal Business Enterprises- Youth Owned Enterprises

  • Duly registered formal business enterprises (Youth owned enterprises) with the Corporate Affairs Commission (CAC).
  • Provision of Business plan Summary / Or Completed Questionnaire.
  • Evidence of Training Certificate from approved FMYSD EDIs.
  • Valid Bank Verification Number (BVNs) of Directors.
  • Provision of Tax Identification Number (TIN)

Informal Business Enterprises (Individual & Sole Proprietors)

  • Must be a Nigerian youth within the age bracket of 18 to 35 years of age.
  • Have an operational business /enterprise domiciled in Nigeria (Note: Those with unregistered business can also apply).
  • Has not been convicted of any financial crime in the last 10 years.
  • Valid Bank Verification Number (BVN).
  • Evidence of Local Government Indigene Certificate


  • Training Certificate from approved FMYSD EDIs.
  • Evidence of registration with the Corporate Affairs Commission (Certificate of Incorporation and Form CAC 2A).
  • Valid Bank Verification Number (BVN) for Individuals and Directors.
  • Evidence of Local Government Indigene Certificate.
  • Duly completed Application form
  • A copy of Birth Certificate
  • Valid Tax Identification Number (TIN).
  • A Summary Business plan / Questionnaire.
  • Valid means of Identification (Voter’s Card, Drivers license, National ID/NIN Slip & International passport).
  • Automated two years bank statement analysis.


To apply for Nigeria Youth Investment Fund, eligible businesses can submit their applications at

And to attend the compulsory entrepreneurship training with an approved Federal Ministry of Youth & Sports Development (FMYSD) EDIs, visit for details.

For more information please visit