NEXIT News: Exited Npower Volunteers Currently Under The Nigerian Youth Investment Fund Might Not Qualify For The NEXIT Soft Loan

The NEXIT soft loan is an interest free loan that will be disbursed to exited Npower volunteers after completing a one week Npower NEXIT training, after the Npower NEXIT training, exited Npower volunteers are awarded certificates of completion and are mandated to complete a business plan which after completion will be submitted to the Central Bank of Nigeria to start the soft loan disbursement process.

But the challenge is that some exited Npower Volunteers that are currently under the Nigerian Youth Investment Fund might not qualify to receive the NEXIT soft loan when it is disbursed, the reason is because the Nigerian Youth Investment Fund programme is funded by the Central Bank of Nigeria in collaboration with NIRSAL/NMFB Microfinance and the Bank and Agric Business/Small And Medium Enterprises Investment Scheme (AgSMEIS) the same financial institutions that will fund the NEXIT soft loan.

The only exception is if the National Youth Investment Fund has elapsed and all loan repayment have been made by the Npower volunteer before your NEXIT soft loan business plan is submitted to the Central Bank of Nigeria, if your NEXIT soft loan business plan had already been submitted and you are still under the Nigerian Youth Investment Fund then you might not qualify for the Npower NEXIT soft loan disbursement when it begins.

These are likely areas that the Central Bank of Nigeria will check when going through the submitted NEXIT business plans, they will check if the Npower volunteer is currently under a Federal Government Loan Programme, once they find out, then you risk not receiving the NEXIT soft loan should disbursement begin.