How to apply for FG's YouthCred loan and qualify for up to ₦2 million - Newstrends
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How to apply for FG’s YouthCred loan and qualify for up to ₦2 million

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How to apply for FG's YouthCred loan and qualify for up to ₦2 million

How to apply for FG’s YouthCred loan and qualify for up to ₦2 million

The Federal Government has launched YouthCred for Entrepreneurs, a new financing initiative designed to provide collateral-free business loans of between ₦200,000 and ₦2 million to young Nigerians running micro and small businesses.

The programme, unveiled in Abuja, is part of the government’s broader effort to improve access to affordable credit, reduce barriers to entrepreneurship and support the growth of Micro, Small and Medium Enterprises (MSMEs) across the country.

According to the government, the initiative will initially support 500,000 young entrepreneurs, with plans to expand the programme to one million beneficiaries before the end of the year.

Unlike conventional bank loans that often require collateral and guarantors, YouthCred uses an alternative credit assessment model that evaluates applicants based on their business cash flow, repayment capacity and credit behaviour.

Who is eligible to apply?

To qualify for the YouthCred loan, applicants must:

  • Be between 18 and 35 years old
  • Own or operate a business
  • Demonstrate responsible credit behaviour
  • Show evidence of business cash flow and ability to repay the loan
  • Complete the required verification process

How much can applicants borrow?

Eligible entrepreneurs can access loans ranging from:

  • Minimum: ₦200,000
  • Maximum: ₦2 million

The amount approved will depend on the applicant’s business performance, repayment capacity and credit assessment.

Who can benefit?

The programme targets young Nigerians operating small businesses and providing essential services, including:

  • Caterers
  • Fashion designers and tailors
  • Make-up artists
  • Hairdressers and barbers
  • Content creators
  • Ride-hailing drivers
  • Mechanics
  • Young farmers
  • National Youth Service Corps (NYSC) members
  • ICT professionals
  • Other eligible micro and small business owners

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How to apply for the FG’s YouthCred loan

Applicants can complete their application online by following these steps:

Step 1: Visit the official YouthCred application portal.

Step 2: Create an account using your email address and personal details.

Step 3: Select the Youth Entrepreneur category.

Step 4: Fill in the online application form with accurate personal and business information.

Step 5: Upload the required identification and verification documents.

Step 6: Submit the application for verification and credit assessment.

Step 7: If successful, the application will be processed through participating regulated financial institutions before the loan is disbursed.

Is collateral required?

No.

One of the major advantages of the YouthCred programme is that applicants are not required to provide collateral or guarantors.

Instead, loan approval is based on:

  • Business cash flow
  • Credit history
  • Repayment capacity
  • Overall financial assessment

Flexible repayment options

Successful applicants can repay the loan over a period of one to 12 months, depending on the repayment plan that best suits their business and financial situation.

The flexible repayment structure is intended to make borrowing more accessible while encouraging responsible financial management.

How to increase your loan limit

Borrowers who perform well under the programme can qualify for larger loans in future by:

  • Repaying previous loans on time
  • Building a positive credit history
  • Completing the platform’s financial literacy and business training modules

Government explains purpose of the scheme

Speaking at the launch, the Minister of Finance and Coordinating Minister of the Economy said the initiative was created to unlock the entrepreneurial potential of young Nigerians by giving them access to affordable financing.

According to the minister, more than 90 per cent of Nigeria’s MSMEs are microenterprises operated by individuals such as caterers, mechanics, fashion designers, ride-hailing drivers, content creators and young farmers.

He said improving access to credit would help these entrepreneurs expand their businesses, create jobs and contribute more to national economic growth.

The Managing Director and Chief Executive Officer of the Nigerian Consumer Credit Corporation (CREDICORP), Uzoma Nwagba, said the government intends to reach 500,000 beneficiaries in the first phase and one million young Nigerians before the end of the year.

He encouraged beneficiaries to repay their loans promptly, noting that responsible borrowing would strengthen their credit profiles and allow more Nigerians to benefit from the programme.

The Federal Government said the initiative forms part of its broader strategy to promote financial inclusion, stimulate entrepreneurship and empower young Nigerians with affordable access to business financing.

How to apply for FG’s YouthCred loan and qualify for up to ₦2 million

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Police Arrest Man Over Fake Presidency Number Plate in Abuja

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Police Arrest Man Over Fake Presidency Number Plate in Abuja
Police Arrest Man Over Fake Presidency Number Plate in Abuja

ABUJA — The Federal Capital Territory (FCT) Police Command has arrested a man accused of impersonating a permanent secretary in the Office of the Secretary to the Government of the Federation (SGF) after he was allegedly caught using a forged number plate bearing the inscription “PRESIDENCY”.

The suspect was arrested on October 20, 2026, after police operatives intercepted a Lexus LX570 sports utility vehicle (SUV) in Maitama District, Abuja, at about 8pm.

According to the police, the concealed number plate carried the registration number 10B218 FG.

The command’s spokesperson, SP Josephine Adeh, disclosed that preliminary investigations revealed that the documents presented to support the registration were allegedly forged.

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Adeh said the suspect had claimed to be the legitimate holder of the number plate, prompting further investigations that reportedly uncovered the alleged fraud and impersonation.

“The vehicle and its occupant were promptly arrested for investigation and subsequent prosecution,” the police said.

The command added that investigations were ongoing and that the suspect would be charged to court upon their conclusion.

The police urged residents to remain law-abiding, cooperate with security operatives and report suspicious activities to the nearest police station.

The arrest comes amid concerns over the unauthorised use of official government and diplomatic number plates in the FCT. Police authorities have previously raised concerns that such plates could be used by unauthorised individuals to evade scrutiny or facilitate criminal activities.

The suspect’s identity has not been publicly disclosed, and the allegations remain subject to the outcome of the police investigation and any subsequent court proceedings.

Police Arrest Man Over Fake Presidency Number Plate in Abuja

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Woman Arrested for Torching Ex-Boyfriend’s Home in Fit of Jealous Rage

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Woman Arrested for Torching Ex-Boyfriend’s Home in Fit of Jealous Rage

 

Accra, Ghana — A routine breakup escalated into a catastrophic act of arson this week, leaving a young man homeless and his former girlfriend in police custody. The Ghana Police Service has arrested a young woman accused of deliberately setting her boyfriend’s rented apartment on fire after he ended their relationship. The shocking trigger for the split? The woman had answered a phone call on his mobile device without his permission.

 

According to preliminary police investigations, the couple became embroiled in a volatile and heated argument over the breach of privacy. The confrontation spiraled rapidly out of control when the boyfriend, reportedly furious that she had answered his phone, decided to end the relationship on the spot. Rather than accepting the breakup, the woman’s anger reportedly boiled over into a dangerous and premeditated rage.

 

In the aftermath of the breakup, authorities allege that the woman intentionally ignited a fire inside the man’s rented home in an act of vengeance. Eyewitnesses described a scene of sheer chaos as flames rapidly consumed the residence, forcing neighbors to flee and local fire services to be summoned to battle the inferno. Dramatic images from the scene reveal a landscape of utter devastation, with the apartment reduced to a pile of charred debris and twisted metal. While no casualties have been reported, the property damage is extensive, and the young man has effectively lost his home and belongings.

 

The Ghana Police Service acted swiftly following the incident, apprehending the young woman who is now in police custody facing potential charges of arson and destruction of property. Local neighbors have expressed profound shock at the severity of the attack, with one bewildered resident telling reporters, “It is just a phone call. To burn down a whole apartment because you were broken up with? It is a very sad day for us here.” The suspect is expected to be arraigned in court in the coming days as the police finalize their case, serving as a chilling reminder of the dangerous consequences of unchecked anger.

 

Woman Arrested for Torching Ex-Boyfriend’s Home in Fit of Jealous Rage

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Horror in Sokoto: Bandits Intercept Vehicle, Massacre All Passengers Returning from City

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Armed Bandits

Horror in Sokoto: Bandits Intercept Vehicle, Massacre All Passengers Returning from City

 

SOKOTO — In a gruesome escalation of insecurity in the North-West, armed bandits have reportedly intercepted a vehicle and killed all passengers on board along a road leading to the Isa Local Government Area of Sokoto State.

According to reports, the tragic incident occurred as the vehicle, a commercial transport conveying passengers, was returning from Sokoto city. The assailants, described as heavily armed, ambushed the vehicle, forcing it to a halt before opening fire on the occupants.

The incident was disclosed by Bakatsine, a conflict reporter covering northwestern Nigeria, who shared information about the attack and photographs of some of the deceased . According to the report, some of the victims were reportedly among the 3,000 people recruited by the Sokoto State Government who had been invited to Sokoto city for further screening and the collection of their documents . The passengers were said to have been travelling back home when the armed men intercepted their vehicle and opened fire on them.

The exact number of people killed in the attack has yet to be confirmed, and there has been no official confirmation from Nigerian authorities as of the time of reporting . Although photographs of some of the deceased have circulated following the incident, the total number of victims and their identities have yet to be independently established .

The attack highlights the persistent security challenges plaguing the region, where bandits frequently target highways and rural communities. Isa Local Government Area, which shares a border with Zamfara State, has been a notorious flashpoint for such criminal activities, including kidnapping, cattle rustling, and highway ambushes.

The reported killing also comes amid continuing concerns over attacks on civilians in other parts of northern Nigeria, particularly in communities affected by insurgency and banditry . Residents of the affected area have expressed deep grief and outrage over the continuous loss of lives, urging security agencies to intensify patrols along the Sokoto-Isa road and other vulnerable routes.

When contacted, the Sokoto State Police Command Public Relations Officer promised to provide details of the incident, stating that operatives have been deployed to the area to ascertain the facts and restore normalcy.

The mass killing underscores the urgent need for enhanced security measures to protect travelers and rural dwellers in Sokoto State and the broader North-West region. NewsTrends will continue to monitor the situation and provide updates as more information becomes available.

 

Horror in Sokoto: Bandits Intercept Vehicle, Massacre All Passengers Returning from City

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