Thread by @FinPlanKaluAja1

(i) Youth within the age bracket of 18-35.
(ii) Have business/enterprises domiciled & operational in Nigeria.
(iii) Has not been convicted of any financial crime in the last 10 years.
(v) Has a valid BVN
(vi) Possess Local Government Indigene Certificate(1)

Applying as a Business

(i) Registration with the Corporate Affairs Commission (Certificate of Incorporation & Form CAC 2A);
(ii) Business questionnaire;
(iii) List of Directors with BVN nos.;
(iv) Evidence of regulatory approvals
(v) Tax Identification Number (TIN).

Who CANNOT apply

Applicants currently enjoying NMFB loans, including the Targeted Credit Facility (TCF) & Agribusiness/Small & Medium Enterprises Investment Scheme (AgSMEIS) loans that remain unpaid, are NOT eligible to apply.

Eligible Activities (1 of 2)

(i) Technology;
(ii) Agriculture and related value chain;
(iii) Green Economy and Renewable energy sector;
(iv) Manufacturing,
(v) Hospitality/Tourism;
(vi) Construction;
(vii) Logistics and supply chain;
(viii) Healthcare value chain,

Eligible Activities (2 of 2)

(ix) Creative sector and
(x) Trading and Services.
(xi) Others as may be determined by NYIF/CBN from time to time.

Preference is given to enterprises that will support the growth of priority sectors.

Types of Loan: (1 of 2)

Term Loan (for asset acquisition/improvement)

(i) Individual (Unregistered business)

Shall be determined based on the activity/nature of project subject to the maximum of N250,000

Types of Loan (2 of 2)

Term Loan

(ii) Registered Businesses (Business name, Limited Liability, Cooperative, Commodity Association shall be determined by activity/nature of the project subject to the maximum of N3.0 million (including working capital).

Tenor: Maximum of 5 years depending on the nature of the business and the assets acquired.

Moratorium: up to 1 year may be allowed depending on the nature of the business and the assets acquired.

Interest Rate: 5% per annum (all inclusive).

For Enquiries,

Project Management Office,
Federal Ministry of Youth and Social Development
Federal Secretariat Phase 2, Block D,
CBD, Abuja
Or
The Director,
Development Finance Department,
Central Bank of Nigeria, Corporate Headquarters
Central Business District, Abuja.