By Goodluck Ikiebe.
The Federal Ministry of Youth and Sports Development has debunked allegations in some quarters of the release of Sevety Five billion naira of Youth Investment fund, saying that no such money was released.
A statement by the ministry says that its attention was drawn to a mischievous and ignorant allegation made by a discredited and self-acclaimed President of the NYCN, which was circulated, syndicated and
reported by some newspapers on the alleged misappropriation of 75billion Naira, Nigeria Youth Investment fund (NYIF).
It says that no effort was made to ascertain the facts.
“There is no N75B released. Approval for NYIF was for 25B per annum for 3 years. 2021 is the first year and only 3Billion naira has been released and 2Billion naira disbursed as part of the ongoing process”
The statement says that over 5,200 youths have benefited while the disbursement was handled solely by CBN and NIRSAL.
“Not a kobo was released to the account of the Federal Ministry of Youth and Sports”, It maintained.
“Names of the 5,200 beneficiaries can be found on the official website of the Ministry of Youth and Sports Development as published In June 2021”
The statement noted that names of beneficiaries were also published in the Nation newspapers of June 21, 2021.
“Full details of beneficiaries, applicants, sector, loan amount and reasons why applications were rejected have been published and are in the public domain”
It says the publication of a mere press release that contained fallacious claims and unfounded allegations by the publications is itself appalling and questionable, adding that a simple check or clarification from the Ministry would have provided factual information as against the ignorance displayed.
The Youth and Sports ministry advised the general public to be wary of peddlers of falsehood and publications lacking in facts sponsored only to discredit public
Officials and embarrass government.
