The Youth Economic Intervention and De-Radicalisation Programme (YEIDEP), coordinated by Nigeria's Federal Ministry of Youth Development, has secured $3 billion in initial donor backing and partnered with 12 commercial financial institutions to expand economic opportunities for young entrepreneurs and MSMEs across the nation. Out of 21 commercial banks that initially applied, 12 including Access Bank, Zenith Bank, GTBank, UBA, Union Bank, Fidelity Bank, Wema Bank, Keystone Bank, Ecobank, Lotus Bank, and Alpha Morgan Bank were selected following a rigorous four-stage screening process. Over the past year, these financial institutions collaborated with YEIDEP to establish a robust financial framework, which has already drawn over 13.1 million account registrations from young Nigerians seeking access to capital and formal banking services. According to YEIDEP Coordinator-General Comrade Kennedy Iyere, this initial $3 billion funding round represents the foundation of a broader, multi-phase financing strategy designed to tackle youth unemployment, mitigate social exclusion, and build long-term economic resilience.
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