The presidency and NYSC secretariat have issued two seperate media reports denying the purported statements by the media that the scheme has been scrapped by the federal government due to lack of funds to continue with the program. In their own statement

the National Youth
Service Corps (NYSC) has dismissed the report that the scheme has been
scrapped, describing it as a malicious and mischievous rumour.
NYSC in reaction to reports over the weekend that the scheme has been
scrapped insisted that there is no iota of truth in the report,
announcing that the 2016 Batch ‘A’ (Stream II) Orientation course will
soon commence.
In statement issued on Sunday, June 5, on NYSC’s Facebook page, Garba
Shehu, the senior special assistant to the president on media and
publicity, said “NYSC is a creation of the law. Only another law can
repeal it.
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