CBN Grants to Help Reduce Unemployment in Nigeria
Federal Government and Central Bank of Nigeria has a new strategy to alleviate unemployment problems in Nigeria.
How to get CBN N500m Grant: Are you in need of a loan/grant and want to apply for Central Bank Grant, then you have come to the right place. Here we will give you detailed information about CBN Grant Application Form, How to Apply, which will make it easier for you.
The CBN introduces the Tertiary Institutions Entrepreneurship Scheme (TIES) to create a paradigm shift among undergraduates and graduates of Nigerian polytechnics and universities, from seeking white-collar jobs to entrepreneurship.
CBN has developed grants for graduates and students. The new portal for CBN N500m grant registration has also been activated.
Pex Bank has made it clear that its Tertiary Institutions Entrepreneurship Scheme – (TIES) aims to increase access to finance for Nigerian polytechnic and university graduates and graduates with innovative business and technical ideas.
The central bank said that the main objective of creating TIES is to overcome the trend of white-collar job seekers and focus on job creation.
The scheme is designed to create a paradigm shift from a “white-collar” job search culture in an entrepreneurial culture to economic growth and job creation between undergraduates and graduates, “said CBN.
For grants, CBN will allocate funds. One of the top 5 3rd best distribution organizations.
CBN said: “The top five polytechnics and universities in Nigeria with the best entrepreneurial trends / ideas will be awarded first place: N150 m; second place N120 m; third place N80 m; fourth place N80 m and fifth place. Location – N50m “,
Apex Bank has announced that it will form a private and public sector expert organization (BoE) for two-year regional and national entrepreneurship competitions to assess the entrepreneurial and technological innovations offered by Nigerian polytechnics and universities. BoE will recommend high-potential projects. and the variable impact on the award of the grant.
- Key highlights of the guideline / CBN Introduces N500m Grants for Graduates
- Eligibility Criteria / CBN presents N500m grant to graduates
- Register for New CBN Grant Updates
- How to Apply for CBN N500m Grants for Graduates
- CBN FAQ
- What does Nigeria's Central Bank do?
- Is it true that CBN provides loans?
- Does the central bank give grant?
- How can I get a loan from the Central Bank of Nigeria?
Key highlights of the guideline / CBN Introduces N500m Grants for Graduates
Projects funded under the scheme will be monitored by independent monitors set up jointly by CBN and MFIs.
This scheme will run for the first time (no later than 31 December 2031) in 10 years, depending on the complexity of the project.
Repayment of interest and principal must be made on a monthly or quarterly basis according to a set cash flow cycle and according to an approved repayment schedule.
Eligibility Criteria / CBN presents N500m grant to graduates
Applicants under the scheme will be graduates of Nigeria Polytechnics and Universities:
i. First-degree certificate (BSc/HND/ or it is equivalent);
ii. National Youth Service Certificate (NYSC) discharge or exemption certificate;
iii. Certificate of Participation issued by polytechnics and universities evidencing entrepreneurship training; and
iv. Not more than 7 years post-NYSC
Register for New CBN Grant Updates
To know immediately about Grant, Application Form, Screening Process,
Steps to Subscribe Free
- First, enter your email id in the following text box
- Click on the “Register” button
- Log in to your email and verify your free subscription.
How to Apply for CBN N500m Grants for Graduates
If you want to apply, then only use the official website of the bank.
Step 1: First visit to the official portal: https://cbnties.com.ng/
Step 2: Read the guidelines for Tertiary Institutions Entrepreneurship Scheme (TIES)
Step 3: Click on Proceed button
Step 3: Select Loan Type: (Either Tier 1 – Sole Proprietorship or Tier 2 – Small Company /Enterprise)
Step: 4: Enter NYSC Callup Number / NYSC request might take a minute to go through
Step 5: Fill NYSC Certificate Number, Year Of NYSC Certificate, Year of Graduation
Step 6 : Fill Personal details and click on validate
Step 7: Submit form
Veriy your email and login with your valid credentials
Fill CBN Grant Form and submit
What does Nigeria's Central Bank do?
Issue legal tender currency in Nigeria. Maintain external reserves to protect the international value of the legally purchased currency. Promote a healthy financial system in Nigeria; and. Serve as a banker and provide economic and financial advice to the Federal Government.
Is it true that CBN provides loans?
The loan carries interest rates of five percent annually from now until February 2022 and nine percent from March 1, 2022. It is expected that businesses will begin paying back after 12 months and the payments will be completed. end within five years
Does the central bank give grant?
The central bank is the apex bank that controls the entire banking system of the country. Central banks lend money to governments in the face of any kind of liquidity or bankruptcy. Central banks are the last resort to lending money to governments from all types of collateral.
How can I get a loan from the Central Bank of Nigeria?
CBNs don’t typically fund individuals, so you’ll need to have a business or company registered — with the Board of Directors of Corporate Affairs (CAC). You must be a customer of an eligible financial institution such as PFI.