Fidelity Bank has advised Youth Economic Intervention and De-Radicalization Programme (YEIDEP) beneficiaries to make sure their accounts remain active by carrying out at least one transaction every six months. The bank stated that any YEIDEP account that stays without a transaction for more than six months will automatically become inactive.
According to Fidelity Bank Plc, “Hello, thank you for contacting Fidelity Bank. Kindly be informed that your account is a YEIDEP account. Further check shows your account is inactive. Kindly note that an account will be considered inactive after six months of no customer-initiated transactions (either credit or debit), regardless of the account balance.”
Nigeriastartupact.ng also quoted the bank saying, “To reactivate your account, we recommend making a deposit of any amount. Kindly be informed account will become active within 24 to 48 working hours (weekend and public holidays not inclusive) following the deposit.”
Some YEIDEP beneficiaries are still using tier one accounts, which cannot receive the expected N50,000 to N500,000 payments, and have been told to upgrade their accounts. Fidelity Bank stated, “Hello, kindly be informed that your account is a YEIDEP account. However, further check shows you are operating a Tier one account. Kindly visit any Fidelity Bank with your valid ID card (NIN) and utility bill (not older than 3 months) to upgrade your account or forward documents via mail to trueserve@fidelitybank.ng for assistance.”
Payments under the Youth Economic Intervention and De-Radicalization Programme are expected to begin soon after the Federal Government, through the Federal Ministry of Youth Development (FMYD), gives the directive to Fidelity Bank and other partner banks to begin payment to beneficiaries’ accounts.