The Youth Economic Intervention and De-Radicalisation Programme (YEIDEP) has reportedly secured $3 billion in funding, while 12 commercial banks have been identified as partner banks supporting the Federal Government’s youth intervention programme.
The development was disclosed by the Coordinator-General of YEIDEP, Comrade Kennedy Iyere, who also stated that more than 13 million accounts have been created in connection with the programme.
YEIDEP $3 Billion Funding
According to the Coordinator-General, the programme has so far secured $3 billion in funding, describing the amount as an important milestone and stating that it represents only the beginning of the programme’s planned funding efforts.
The coordinator said the participation of financial institutions has helped make the programme more attractive to international donor partners.
However, applicants and members of the public should rely on official YEIDEP and Federal Government announcements for confirmation of funding arrangements, eligibility, disbursement dates, and other programme details.
12 Banks Partnering With YEIDEP
According to the information released by the programme coordinator, 21 commercial banks initially applied to participate as partner banks.
The banks reportedly went through a four-stage screening process, after which 12 banks were selected.
The reported YEIDEP partner banks are:
- Union Bank
- United Bank for Africa (UBA)
- Keystone Bank
- Guaranty Trust Bank (GTBank)
- Fidelity Bank
- Wema Bank
- Lotus Bank
- Ecobank
- Alpha Morgan Bank
- Access Bank
- Zenith Bank
- One additional bank referenced in the programme’s partner-bank announcement
Because banking partnerships and programme arrangements can change, applicants should verify the current list through official YEIDEP communications before taking any action.
13.1 Million Accounts Reportedly Created
Another major claim from the programme coordinator is that approximately 13.1 million accounts have been created for the programme.
The coordinator described the reported participation as an indication of the level of interest among Nigerian youths.
It is important to note that the figure refers to accounts reportedly created in connection with the programme and should not automatically be interpreted as 13.1 million beneficiaries who have received funding.
What Is YEIDEP?
YEIDEP is presented as a Federal Government youth intervention initiative focused on improving economic participation among Nigerian youths.
The programme’s stated objectives include helping young Nigerians participate more actively in the economy, supporting economic inclusion, and creating opportunities for youth empowerment.
The programme is described as being anchored and coordinated under the Federal Ministry of Youth Development.
What the YEIDEP Programme Is Intended to Achieve
The programme is focused on broader youth economic participation and empowerment.
Its objectives include:
- Promoting youth economic inclusion.
- Supporting young Nigerians to participate in economic activities.
- Creating opportunities for youth empowerment.
- Connecting young people with financial and economic opportunities.
- Encouraging entrepreneurship and productive participation.
- Supporting efforts to reduce youth exclusion from economic activities.
Why the Banking Partnership Matters
The involvement of commercial banks is significant because financial institutions can provide infrastructure for account creation, financial services, payment systems, and other activities connected with large-scale intervention programmes.
According to the coordinator, the partner banks have contributed to the development and restructuring of the programme and helped make it more attractive to potential international donor partners.
The reported $3 billion funding milestone therefore represents an important development for the programme, although the exact structure, sources, conditions, and disbursement arrangements of the funding should be confirmed through official announcements.
Is YEIDEP a Federal Government Programme?
According to the programme’s coordinator, YEIDEP is a Federal Government intervention programme intended for youths across Nigeria.
The programme is stated to be anchored, supervised, and coordinated by the Federal Ministry of Youth Development.
Applicants should nevertheless verify current information about the programme through official government channels before submitting personal information or making any payment.
What Applicants Should Know
Anyone interested in YEIDEP should be careful when dealing with information circulating on social media and unofficial websites.
Before applying or providing personal details:
- Check whether the information comes from an official source.
- Confirm that the application portal is genuine.
- Do not pay anyone who promises guaranteed selection.
- Do not share your banking PIN, password, or OTP.
- Confirm eligibility requirements before applying.
- Check official announcements for application deadlines and updates.
ApplyZip will continue to provide updates when new and verifiable information about YEIDEP becomes available.