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CBN To Give N3m Each To Eligible Corpers & Graduates (Read How)


The Central Bank of Nigeria on Tuesday launched an empowerment scheme
aimed at creating a new set of entrepreneurs among members of the
National Youth Service Corps and fresh graduates.

The CBN
Governor, Mr. Godwin Emefiele, who launched the Youth Initiative
Entrepreneurship Development Programme for corps members, said the
scheme would be implemented by the central bank and Heritage Bank.

He
said the initiative would enable serving corps members as well as fresh
graduates with good business ideas to assess N3m to start up their
business.

The governor stated that while the loan would be given
to corps members at single digit interest rate, they would be required
to deposit their NYSC discharge certificates as collateral for the
credit facility.

According to him, the bank is targeting 10,000
youth corps members in the pilot phase of the scheme, adding that this
would help to create about one million direct jobs in the next four
years.

11 Comments

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