Apply for CBN N500k Grants for Graduates, and Undergraduates: The Central Bank of Nigeria is awarding N500 grants to graduate and undergraduate students across the country. The CBN grant program aims to reduce youth unemployment. In this article, we will show you how to apply or apply for CBN funding. Continue reading this article.
Tertiary Institutions Entrepreneurship Scheme (TIES), in partnership with Nigerian Polytechnics and Universities, to harness the entrepreneurial potential of Nigerian graduates (gradpreneurs).
Top banks say TIES aims to provide access to finance to students and graduates of Nigerian polytechnics and universities through innovative business and technology ideas.
What the CBN is saying / CBN Introduces N500 Grants for Graduates
Apex Bank said TIES was developed in response to the trend of graduates seeking white-collar jobs and focusing on job creation.
“The program is designed to transform students and graduates from white-collar pursuits to an entrepreneurial culture that promotes economic development and job creation,” Yicai said.
In terms of grants, the CBN will award N5 million to the top 5 tertiary institutions. According to the CBN, “The top five Nigerian polytechnics and universities with the best business locations/ideas will be awarded as follows:
- First place – N150m
- Second place – N120m
- Third place – N100m
- Fourth place – N80m
- Fifth place – N50m
The apex bank announced that it will “constitute a body of experts (BoE) from the private and public sectors for a two-year regional and national entrepreneurship competition to assess entrepreneurship and technological innovation submitted by Nigerian polytechnics and universities.
A committee of experts (BoE) for awarding grants to projects with high potential and transformative effects would be recommended.
Steps and Guidelines to Apply for CBN N500,000 Grants
Note the following:
Projects financed under this program are monitored by an independent monitor jointly engaged by the CBN and MFIs
Depending on the complexity of the project, the program will run for only 10 years (until December 31, 2031).
The debtor must pay interest and principal on a monthly or quarterly basis according to the defined cash flow cycle and according to the approved repayment plan.
Requirements for CBN N500,000 Grants for Graduates
Applicants under the Scheme shall be graduates of Nigerian polytechnics and universities with:
- First-degree certificate (BSc/HND/ or it is equivalent)
- National Youth Service Certificate (NYSC) discharge or
- Certificate of Participation issued by polytechnics and universities evidencing entrepreneurship training; and
- Not more than 7 years post-NYSC.
How to Apply for CBN N500,000 Grant
Interested and qualified persons Click here to apply
Below are ongoing loans – Apply as the first candidate before it ends.
ONGOING LOAN – APPLICATION
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