Fact-Check: Claim that the Nigerian Government is giving Youths #70,000 monthly is Misleading!
BY: Mustapha Lawal
Claim:
The government is giving Nigerian youths ₦70,000 at Keystone Bank. All you need is your NIN, two passport photographs, a NEPA bill, and a completed form. You will be credited ₦70,000 every month.
Verdict:
False! The claim that the Nigerian government is paying youths ₦70,000 monthly through Keystone Bank is false. No official statement or credible government programme supports this.
Full Text:
In recent days, a video and several posts have circulated widely across Facebook, Instagram, and WhatsApp, claiming that the Nigerian government is giving ₦70,000 monthly to youths through Keystone Bank. The posts instruct viewers to go to any Keystone Bank branch with their NIN, passport photographs, and NEPA bill to fill out a form and start receiving the payment.
The earliest versions of the post appeared on Facebook pages like Cybergistblog67 and others sharing celebrity gossip and “youth empowerment” content. One post alone received over 14,000 views and more than 500 shares within two days. On Instagram, a reel amplified the same claim, reaching tens of thousands of users, mostly unemployed young Nigerians seeking relief in a harsh economic climate.
The claim has gained traction due to the ongoing hardship and high unemployment rate among Nigerian youths. Many are eager for opportunities such as the Youth Investment Fund, N-Power, and other past empowerment initiatives. This makes them vulnerable to false grant promises that mimic government announcements.
But is it true that the Federal Government is giving £70,000? FactCheckAfrica checked!
Verification:
A Google keyword search for phrases such as “Keystone Bank ₦70,000 government payment” and “Nigerian government ₦70,000 monthly support” yielded no credible results from official sources.
FactCheckAfrica reviewed the website and social media accounts of the Federal Ministry of Youth Development, Central Bank of Nigeria, and National Orientation Agency, none of which have announced any ₦70,000 monthly support programme.
Further investigation revealed that the Youth Economic Intervention and De-Radicalisation Programme (YEIDEP), a verified youth-focused initiative, issued a warning that the ₦70,000 claim is a scam falsely using their name. YEIDEP clarified that their actual support grants range from ₦50,000 to ₦500,000, are non-repayable, and are not structured as monthly payments.
YEIDEP was established to address Nigeria’s persistent challenges of youth unemployment, economic underutilisation, and vulnerability to radicalisation. It is a pro-youth economic self-emancipation initiative designed to promote active economic participation, nation-building, and security stability through targeted empowerment and entrepreneurship platforms.
YEIDEP is anchored by the Youths Off The Street Initiative (YOTSI), implemented in partnership with the Federal Ministry of Youth Development and supported by the Nigerian Senate (10th Assembly) through its Committee on Sports Development. The programme operates through verified partner banks, namely: Fidelity Bank, Keystone Bank, Lotus Bank, Zenith Bank, Wema Bank, UBA, The Alternative Bank, and Union Bank.
YEIDEP’s official statement emphasises that no individual or third-party registration at any bank branch guarantees automatic funding, and all communications must come from its verified channels.
Conclusion:
The claim that the Nigerian government is giving ₦70,000 monthly to youths through Keystone Bank is entirely false. The post circulating online has no official basis and misuses the name of a legitimate youth empowerment programme to gain attention. FactCheckAfrica’s verification shows that while YEIDEP exists, it does not pay monthly stipends, and its disbursements follow specific eligibility and project-based criteria.
