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NYIF: Only N3b available out of N12b Meant for First Year
Only N3 billion of the promised N12.5 billion is available for disbursement to youth under the Nigeria Youth Investment Fund, NYIF, which was approved last year.
The Ministry of Youth and Sports Development, which got approval of the Federal Executive Council for the Fund, had said the Central Bank of Nigeria, CBN, was directed to make N12.5 billon available in the first hear of the Fund.
Checks by our correspondent however confirmed that the CBN has made only N3 billion available to NIRSAL Microfinance Bank, NMFB, through which some youth have secured loans of varying amounts under the Fund.
The youth are clamouring on social media and online platform for more loans to be disbursed to enable them to grow their businesses as promised by NYIF.
In a document sent out this week, the Ministry said it was “in consultations with other partners to expand the loans disbursement platform to fast-track access to the Fund.”
Ministry sources hinted that it is talking with other financial institutions to support in making more loans available to the youth.
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CSO Salutes Trump
A Civil Society Organization (CSO) under the aegis of Initiative for Leadership Development and Change (ILDC) has congratulated President Donald Trump as the 47th President of the United States of America.
Chief Ugochukwu Nnam, President of the CSO said this in an interview with the Newsmen in Abuja on Monday.
He expressed optimism over improvement on not just American economy but global economy with the inauguration of Trump.
“This is a man with greater vision of making environment around him great.
“In less than few hours of his inauguration, TikTok is back into existence, this shows how he is going to revive the world economy,” he said.
The ILDC boss who reiterated his confidence in Trump’s Presidency, described him as a man of clues and ideas to drive a stable America and the world at large.
He lauded Trump’s collaboration with global entrepreneurs like Elon Musk in an effort to revitalize America’s economy.
According to him, men and women of ideas flock together, they work together for better society and this is what Trump is doing.
Recall that Donald Trump became the 47th President of the U.S by polling 312 electoral votes Vice President Kamala Harris’ 226 votes in Nov, 2024.
Following the oath of office, Trump will address the nation before he is expected to parade across town to the White House and attend three inaugural balls in the evening
About 200,000 supporters are expected to visit the city to mark the presidential transfer of power.
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