Union Bank of Nigeria has emerged as the lead bank in the processing of the YEIDEP grant, being the first financial institution to compile the bank account details of participants.
The bank has now officially entered the phase of verifying Bank Verification Numbers (BVN).
This verification is essential to confirm that each beneficiary is a legitimate applicant eligible for grant payments ranging from ₦50,000 to ₦500,000.
The verification process aims to minimize errors and prevent fraudulent claims, thereby enhancing the transparency and accuracy of the grant distribution.
Applicants who submitted their information through Union Bank must ensure that their BVN aligns with the details they provided, including their names, phone numbers, and banking information.
The Ministry of Youth Development has previously indicated that any discrepancies could result in delays or removal from the beneficiary list.
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The YEIDEP grant is part of a broader national initiative designed to combat youth unemployment and support small businesses across Nigeria.
Thousands of shortlisted candidates are currently awaiting their payments, and Union Bank’s progress suggests that they may be among the first to receive funds following successful BVN validation.
According to information shared on their social media platforms, applicants associated with other banks, such as Access Bank, Zenith, First Bank, and UBA, are still undergoing document verification and are expected to begin the BVN verification phase in the coming weeks.
The next update from the program’s officials is anticipated to include specific payment dates, with Union Bank recipients likely to be prioritized once verification is complete.
This advancement represents a significant step forward in the YEIDEP disbursement timeline for October 2025, bringing many young Nigerians closer to receiving their government-supported grants.
