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The Youth Economic Intervention and De-radicalisation Programme (YEIDEP) has denied claims that it is offering a N500,000 business grant in partnership with Fidelity Bank Plc, describing such reports as misleading and fraudulent.
This follows the circulation of a viral advertorial on social media promoting agricultural training scholarships alongside the grant, allegedly backed by YEIDEP and the bank. The programme, in an official statement signed by its Coordinator-General, Kennedy Iyere, warned Nigerians to disregard the information.
According to the statement, the flyer falsely carries the logos of both YEIDEP and the Federal Ministry of Youth Development, giving it an appearance of legitimacy.
Iyere stated: “YEIDEP has no such partnership or initiative as advertised. The material is the handiwork of criminal elements seeking to deceive and defraud unsuspecting members of the public.”
Confusion over earlier communications
The denial, however, has raised concerns among stakeholders and applicants, especially as earlier communications linked interested participants to partner banks, including Fidelity Bank, for registration processes.
In some cases, the same bank had reportedly published information reinforcing the existence of the programme, aligning with YEIDEP’s earlier outreach efforts. This has left many Nigerians confused about what is officially recognised and what is not.
While YEIDEP maintains that the current flyer is fraudulent, it clarified that authentic updates about its activities are only shared through national newspapers and official platforms of the ministry.
The statement added: “Please note that news about YEIDEP’s activities are usually widely published and reported in major national dailies and also on the website of the Federal Ministry of Youth Development… the public is advised to disregard the said flyer and treat it as a tool for fraudulent operations.”
Concerns over programme structure
Beyond the controversy, there are growing concerns about the programme’s structure and communication. YEIDEP is currently promoting a Batch B intake, despite limited public information regarding the status of Batch A applicants.
Many applicants from the initial phase say they are yet to receive updates or benefits, raising questions about transparency and execution.
At the same time, the programme continues to direct prospective applicants to partner banks for registration, while warning them not to engage individuals directly.
For many Nigerians, the situation highlights the need for clearer communication from YEIDEP and its supervising ministry, as conflicting messages risk exposing citizens to scams while undermining trust in government-backed initiatives.
While YEIDEP insists it remains committed to transparency, stakeholders argue that consistent and coordinated messaging is critical to avoid further confusion.
