NYIF: FG releases N1.3bn to 4,680 beneficiaries

 The Federal Government on Sunday said it has disbursed N1.31 billion to 4,680 beneficiaries under the Nigeria Youth Investment Fund (NYIF) from the first tranche of N12.5 billion released for the programme.

According to the government, details from the NIRSAL Micro Finance Bank (NMFB) showed the beneficiaries, who received the loans as at the end of April 2021, are spread across the country and critical sectors of the economy.

Director of Press, Federal Ministry of Youth and Sports Development, Mohammed Manga said this in a statement on Sunday.

The statement said beneficiaries of the funds commended the ministry for surmounting the initial challenges to make the disbursements possible

“Furthermore, the Ministry wishes to assure applicants that more disbursements will be achieved in the coming weeks to ensure that the objectives of the programme are achieved,” the statement added.