CBN N500 Grants for Graduates, Undergraduates – In a bid to reduce unemployment, the Central Bank of Nigeria has developed grants for graduates and Undergraduates.
Tertiary Institutions Entrepreneurship Scheme (TIES), in partnership with Nigerian polytechnics and universities to harness the potential of graduate entrepreneurs (gradpreneurs) in Nigeria.
The apex bank stated that the goal of the TIES is to enhance access to finance to undergraduates and graduates of polytechnics and universities in Nigeria with innovative entrepreneurial and technological ideas.
The apex bank stated that the development of TIES was to address the trend of graduates seeking whitecollar jobs and turn their attention to the creation of jobs.
Trending Nirsal Credit Risk Guarantee Loan Scheme Application
CBN stated that “the Scheme is designed to create a paradigm shift among undergraduates and graduates from the pursuit of white-collar jobs to a culture of entrepreneurship development for economic development and job creation.”
Regarding the grant, the CBN would distribute N500million among the top 5 tertiary institutions with the best pitch.
CBN said, “Five top Nigerian polytechnics and universities with the best entrepreneurial pitches/ideas shall be awarded as follows: first place – N150m; second place – N120m; third place – N100m; fourth place – N80m; and fifth place – N50m,”
READ – cbnties.com.ng/register – CBN TIES Loan Form Portal and Registration
Trending Connak Foundation Entrepreneurship Initiatives (COFEI) $5,000 Grant – Apply Now
The apex bank stated that it,”shall constitute a Body of Experts (BoE) from the private and public sector for the biennial regional and national entrepreneurship competitions to evaluate entrepreneurial and technological innovations submitted by Nigerian polytechnics and universities. The Body of Experts (BoE) shall recommend projects with high potential and transformational impact for the grant award.”
Projects financed under the Scheme shall be monitored by independent monitors jointly engaged by the CBN and PFI
The Scheme would be operated for 10 years in the first instance (not exceeding 31st December 2031) depending on the complexity of the project.
Interest payment and principal repayment should be made on a monthly or quarterly basis by the obligor depending on the established cash flow cycle and in line with the approved repayment schedule.
Trending Rapid Response Register (RRR) Grant Application Closing Date Announced
Applicants under the Scheme shall be graduates of Nigerian polytechnics and universities with:
iii. Certificate of Participation issued by polytechnics and universities evidencing entrepreneurship training; and
Interested persons can click the link to apply.
Kindly subscribe to the site using your Email address for more updates for FREE
Ascentech Services Limited is a full-fledged Human Resource Solution Provider incorporated in 2013 with its…
CIIBEX Group Limited is a holding name for an indigenous conglomerate which comprises of eight…
The International Committee of the Red Cross (ICRC) is an impartial, neutral and independent organization…
NNPC Ltd/ TotalEnergies International Masters Degree Scholarship - 2024-2025. TotalEnergies is a global multi-energy company…
Seven-Up Bottling Company Limited is one of the largest manufacturing companies in Nigeria, producing and…
Jumia is Africa's leading internet group, with already over 3,000 employees in more than 20…