Beneficiaries of the Youth Economic Intervention and De-Radicalization Programme (YEIDEP) are eagerly waiting for the much-anticipated disbursement of funds scheduled to start on Monday, October 20, 2025. The expected payments are said to range between N50,000 and N500,000, depending on the category of each beneficiary. However, it is not certain whether the payments will actually take place, and as such, beneficiaries are advised not to have high hopes.
The document circulating online suggesting that the YEIDEP disbursement will happen between October 20 and 30 is not authentic. The notice, which has spread across social media, has not been confirmed by any official source. In fact, the information has no clear origin, raising doubts about its reliability. This is why Nigeria Startup Act believes that the rumored October 20 disbursement might not take place, even though the proposed dates align with previous YEIDEP activities.
As of the time of this publication, just hours before the rumored date, the federal government has not authorized any of the listed partner banks, Keystone Bank, Lotus Bank, Fidelity Bank, Access Bank, Zenith Bank, Union Bank, UBA, FirstBank, Wema Bank, Jaiz Bank, and The Alternative Bank, to begin payment to beneficiaries. Recently, Alpha Morgan Bank publicly backed the YEIDEP initiative as a step against unemployment, but it remains unclear whether the bank will be officially included among YEIDEP’s payment partners.
At the moment, there is also no verified information about those who made it into the first batch of 8,000 beneficiaries. The only proof available for most candidates is the standard message from participating banks confirming their registration and account activation that say “Your registration for the YEIDEP program is successful,” and subsequently “Your account is active,” (for those who were sent YEIDEP account number via email or SMS) and this is the case for many candidates.
Some candidates have received YEIDEP account numbers via email or SMS, but beyond that, there has been no public confirmation (like a publicly available shortlist) of who qualifies for the Batch A disbursement phase.
There are also growing concerns about the ambitious nature of YEIDEP’s targets. The programme claims it aims to empower 20 million youths and create 100,000 entrepreneurs by 2026, yet with 2025 almost coming to an end, the first batch reportedly consists of only 8,000 beneficiaries. Moreover, over 8 million youths have already registered for the initiative, raising questions about how such a vast number will be reached in the remaining time.
Observers have also criticized YEIDEP and the Federal Ministry of Youth Development (FMYD) for not maintaining active communication channels with participants. Apart from occasional stakeholder engagements and public tours to different states, including Oyo (Ibadan), Akwa Ibom (Uyo), etc., there has been no consistent online presence or official updates. Many beneficiaries have expressed frustration over the lack of a verified social media page or official platform where updates can be regularly monitored.
Nevertheless, if disbursement eventually begins, potential beneficiaries are advised to ensure that their YEIDEP-linked bank accounts are active and upgraded. Fidelity Bank, along with other partner banks, has previously advised YEIDEP candidates to keep their accounts operational. In many cases, a customer must have performed at least one transaction within the last six months to be considered active. Banks have also emphasized the importance of upgrading accounts because of transaction limits. For example, in Fidelity Bank, a Tier 1 account can only receive a single credit of up to N50,000 per day and hold a balance of up to N300,000. This restriction means that such accounts cannot receive the expected YEIDEP payments ranging from N50,000 to N500,000 unless they are upgraded.
For those wondering about eligibility, YEIDEP officials have clarified that the programme is not restricted to farmers. Comrade Kennedy Iyere, the Coordinator-General of YEIDEP, explained that the initiative is designed to include a broad range of young people across various sectors. In his words, “Not just farmers only, but our priority is to engage youths in the agricultural sector, agriculture, food business, food entrepreneurship, and then agro-allied.” He further emphasized that individuals involved in technology, entertainment, and the creative economy would also benefit from the intervention.
However, as anticipation builds, there are concerns about transparency and accountability. Nigeriastartupact.ng previously reported that Comrade Iyere had accused the Central Bank of Nigeria (CBN) of mismanaging funds from previous government programs. According to him, “The Central Bank has a bad reputation for embezzling public funds. No apologies yet. Now, we’ve had programs like NIRSAL and the Anchor Borrowers Program. The Anchor Borrowers Program had government bills valued at ₦1.1 trillion. It was domiciled with the Central Bank, and the money was embezzled. NIRSAL was also coordinated by the Central Bank, and the money got embezzled. They diverted the funds for private use, to the point that they even created a fake microfinance bank.”
From Iyere’s comments, it was evident that holding the Central Bank accountable was difficult in past initiatives. This, according to him, is one of the reasons YEIDEP decided to work directly with commercial banks. By doing so, the programme hopes that it will be easier to monitor the flow of funds and hold the banks responsible in case of any irregularities or mismanagement.
As the clock ticks closer to October 20, 2025, many youths across Nigeria remain anxious, hoping the government fulfills its promise of financial empowerment. Yet, with uncertainties surrounding authorization, communication, and verification, skepticism remains widespread. Some believe payments could still occur within the rumored October 20 to 30 timeline, while others think delays are more likely.
For now, potential beneficiaries are advised to stay cautious and avoid falling victim to fraud. There have been reports of individuals or groups pretending to represent YEIDEP and demanding payment to secure or fast-track disbursement. Authorities have repeatedly warned that no legitimate government agency will ever request money from applicants before granting them access to empowerment funds.
As Nigeria continues to face high youth unemployment and inflation, programs like YEIDEP carry the hopes of many young Nigerians seeking business capital or support for small ventures. Whether or not October 20 brings relief to the first batch of beneficiaries remains to be seen, but one thing is certain, the nation’s youth are watching closely, expecting action, transparency, and genuine empowerment.
This Editorial is by Nigeria Startup Act (nigeriastartupact.ng).
