CBN Students Grants Portal Opens for Graduates, Undergraduates
According to recruitmenttrust, the Central Bank of Nigeria (CBN) has created awards for recent graduates and students in an effort to lower unemployment. For information on registering 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.
The plan is intended to foster a paradigm shift from a “white-collar” job seeking culture to an entrepreneurial culture that promotes economic growth and employment creation for both undergraduates and graduates, according to CBN.
CBN would allot N500 million for the gift. the third-best delivery organization out of the top 5.
“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 “, CBN said.
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 award.
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 no 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 certificate of first-degree completion (BSc, HND, or an equivalent).
ii. a discharge or exemption certificate for the National Youth Service Corps (NYSC);
iii. A Certificate of Participation from universities and polytechnics attesting to entrepreneurial education;
iv. Within seven years of completing the NYSC
For more information on how to apply for the grants, stay tuned to Labaranyau.
FAQS
Is there any CBN grant?
Important aspects of the rule / CBN Launches N500m Graduate 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 no later than the end of 2031.
How do I borrow money from CBN?
Can I get a loan straight from the Nigerian Central Bank? You cannot directly borrow from the CBN, sorry. Any of the Participating Financial Institutions (PFIs) can grant loans. These PFIs are required to evaluate the creditworthiness of your company and to oversee any loans that are issued.
How can I get CBN empowerment?
A platform called the NEXIT platform is now operational as part of the CBN’s empowerment campaign for former N-power beneficiaries.
You must log in to the NEXIT Portal at nexit-fmhds.cbn.gov.ng and complete all needed fields in order to determine your suitability and eligibility for CBN Empowerment.
What is the CBN loan for graduates and undergraduates?
For individual, sole proprietorship, and small business projects, the loan amount is between N5 million and N25 million. Between now to February 2022, the loan’s interest rate is 5%; beginning on March 1, 2022, it is 9%. Five years must pass before repayment is complete.
Visit “www.cbnties.com.ng” and get your loan now.
