CBN DEBUNKS FAKE NEWS ON NEW N5,000 AND N10,000 BANKNOTES.(PHOTO).

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  The Central Bank of Nigeria (CBN) has dismissed a viral claim circulating on social media about the introduction of new ₦5,000 and ₦10,000 banknotes, labeling it as fake news. The claim, which included fabricated images of the supposed new denominations featuring Dr. Nnamdi Azikiwe and Chief Obafemi Awolowo, falsely stated that the new notes would enter circulation from May 1, 2025. In a statement on its verified Facebook account, the CBN clarified that the content is not from the bank and directed the public to its official website, (www.cbn.gov.ng), for authentic information. The bank warned against spreading misinformation regarding monetary policies and urged Nigerians to rely only on official statements from its verified channels. The CBN reaffirmed that any major policy decision, including the introduction of new banknotes, would be announced through its official platforms. The public is advised to remain cautious and verify financial information from credible sources befor...
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NYIF LOAN: MINISTRY OF YOUTHS AND SPORTS DEVELOPMENT URGES SHORTLISTED APPLICANTS TO RESPOND PROMPTLY. (PHOTOS).#PRESS RELEASE.

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FEDERAL MINISTRY OF YOUTH AND SPORTS DEVELOPMENT 

Press Release 

NYIF Loan: Ministry Urges Shortlisted Applicants to Respond Promptly
 
The Federal Ministry of Youth and Sports Development is currently delivering a fresh round of disbursements of the Nigeria Youth Investment Fund(NYIF) to youth beneficiaries  whose application have been successful.  
 
Less than 14% of the newly shortlisted applicants from the over 25,000 successful candidates, who are expected to be part of the loan, have responded to emails confirming their approval to receive the soft loan. Instructions on how to access the funds are contained in the email sent. The rate of response to the emails have been quite low. However, others who responded have received the funds into their PFI designated bank accounts.
 
Shortlisted candidates must respond to communication in order to conclude the disbursement process. Those who fail to respond risk forfeiting this opportunity. 
 
The Nigerian Youth Investment Fund (NYIF) is being disbursed to the youth who have expressed business needs within a range of N250,000 (Two Hundred and Fifty Thousand Naira) to N3m (Three Million Naira) depending on the scale of the business and its evaluation.
 
About 6,000 youth benefitted from the first set of disbursements in 2020 and the names of the beneficiaries have since been made public.

While in the second batch 4,375 have so far responded to their loan offer messages and received their funds.
 
The NYIF guidelines and processes remain the same.

Signed 
Mohammed Manga
Director (Press & Public Relations)
May 10, 2022


 

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