FG Disowns Fake N500,000 YEIDEP Grant Circulating on Social Media
- YEIDEP debunks false advert claiming agricultural training scholarships and grants via Fidelity Bank
- Coordinator-General Iyere warns that the flyer is a fraud targeting Nigerians
- Nigerians are urged to check official channels for accurate YEIDEP information
Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
The Youth Economic Intervention and De-radicalisation Programme (YEIDEP) has debunked an advertorial circulating on social media.
YEIDEP said the advertorial claims the scheme offers agricultural training scholarships, including a N500,000 business grant via Fidelity Bank.
Source: UGC
“No such partnership exists” - YEIDEP warns
The programme’s Coordinator-General, Comrade Kennedy Iyere, said the flyer is false and the handiwork of criminals seeking to deceive and defraud Nigerians.
The statement said the misleading material carries the logos of the Federal Ministry of Youth Development and Fidelity Bank, an attempt to give it some credibility.
The YEIDEP Coordinator-General said the scheme has no such partnership or initiative as contained in the flyer, warning that it is a tool for financial fraud.
YEIDEP unveils official platforms for information
Iyere explained that YEIDEP’s activities are shared through recognised national dailies and the official communication platforms of the Federal Ministry of Youth Development, including updates from the Minister’s office.
YEIDEP asked Nigerians to disregard the flyer and remain vigilant against fraudulent schemes.
It reaffirmed its commitment to its programmes’ transparency, asking Nigeria to verify any information regarding its programmes via official channels.
“Please note that news about YEIDEP’s activities is usually widely published and reported in major National Dailies and also on the website of the Federal Ministry of Youth Development, specifically the news platform of the Honourable Minister.
FG opens Batch B portal for YEIDEP scheme
“Therefore, the general public is advised to disregard the said flyer and treat it as a tool for fraudulent operations,” YEIDEP said.
A prior report by Legit.ng disclosed that the Nigerian government, via YEIDEP, is empowering Nigerian youths with grants of up to N500,000.
YEIDEP recently announced recruitment into the scheme’s Batch B, asking young Nigerians to take advantage of the programme to scale their businesses.
The announcement was made in a statement by Iyere, who urged eligible Nigerians between the ages of 18 and 50 to participate in the exercise.
Source: Getty Images
According to the statement, the recruitment will take place across the country except in Kano State, where the process will be supervised by Governor Abba Kabir Yusuf through a newly established Kano State YEIDEP Steering Committee tasked with coordinating the recruitment of beneficiaries within the state.
FG reopens YEIDEP portal for youths to apply
Legit.ng earlier reported that the Federal Ministry of Youth Development (FMYD) has reopened the application portal for the Youth Economic Intervention and De-Radicalisation Programme (YEIDEP) Batch B recruitment. The programme YEIDEP is aimed at empowering young Nigerians with financial support and entrepreneurship training.
In its statement, the Federal Ministry of Youth Development (FMYD) described YEIDEP as a government-backed programme created to empower young Nigerians economically while enhancing national security through de-radicalisation and productive engagement.
The ministry explained that the initiative offers financial support between N50,000 and N500,000 to assist unemployed young Nigerians in starting or expanding small businesses.
Source: Legit.ng
