The Central Bank of Nigeria (CBN) is rumored to have created rewards for graduates and students to lower unemployment. For registration for CBN N500k grants, go to cbnties.com.ng.
In collaboration with Nigerian Polytechnics and Universities, the Tertiary Institutions Entrepreneurship Scheme (TIES) taps into the entrepreneurial potential of Nigerian graduates.
According to Pex Bank, TIES seeks to expand financial access for Nigerian polytechnic and university graduates as well as those with creative business and technological concepts.
The Supreme Bank claimed that by concentrating on job development, the TIES will address the problem of white-collar job seekers.
According to CBN, the plan is intended to induce a paradigm change from an entrepreneurial culture of “white-collar” job searching to one of economic growth and employment creation for both undergraduates and graduates.
CBN would allot N500 million for the gift. the third-best delivery company out of the top 5.
According to CBN, first place would receive N150 million, followed by N120 million for second place, N80 million for third place, N80 million for fourth place, N80 million for fifth place, and N50 million for fifth place. The address is N50m,”
For two-year regional and national entrepreneurship competitions, Apex Bank has stated that it will establish a private and public sector expert organization (BoE) to evaluate the technological and entrepreneurial ideas provided by Nigerian universities and polytechnics. BoE will suggest projects with great potential. and the grant’s varying impact on the award.
Important aspects of the rule / CBN Introduces Graduate N500 Grants
Independent monitors established jointly by CBN and MFIs will keep an eye on projects supported under the initiative.
Depending on how difficult the project is, this scheme won’t run again until any later than the end of 2031. In accordance with a predetermined cash flow cycle and in accordance with an agreed repayment schedule, interest, and principal must be repaid on a monthly or quarterly timetable.
Criteria for Eligibility / Graduates are awarded N500 Scholarships by CBN
Graduates of Nigerian universities and polytechnics will be eligible to apply for the program.
i. a first-degree diploma (BSc, HND, or an equivalent);
ii. a certificate of dismissal or exemption from the National Youth Service Corps (NYSC);
iii. Certificates of Participation from universities and polytechnics attesting to entrepreneurial education; and
iv. Up to seven years after NYSC.
How to Apply for Graduates’ N500 Grants from CBN/CBN Introduces Graduates’ N500 Grants
To apply, interested parties may click the link.