CBN is the Apex bank of Nigeria charged with the country’s financial responsibility and regulation, is accepting applications for Loans of 5M and above for graduates for the past 7 yrs who have or are about to start a business.
Requirements;
CAC Certificate
BVN
NIN
TIN
Certified true copies of CAC
Valid ID
Corporate account
BSC
NYSC Discharge/Exemption
Business Report
Visit https://cbnties.com.ng or cbn.gov.ng
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Applicants under the Scheme shall be graduates of Nigerian polytechnics and universities with first-degree certificate (BSc/HND/ or its equivalent); National Youth Service Certificate (NYSC) discharge or exemption certificate; Certificate of Participation issued by polytechnics and universities evidencing entrepreneurship training; and Not more than 7 years post-NYSC,” the document reads.
The CBN added that the equity investment component shall be in the form of injection of fresh capital for start-ups, expansion of established businesses or reviving of ailing entrepreneurial businesses.
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Another component of the intervention is the developmental component which shall be disbursed in the form of grants to Nigerian polytechnics and universities in a national biennial entrepreneurship competition.
The apex bank said it would award N500 million worth of grants to five top Nigerian polytechnics and universities with the best entrepreneurial pitches/ideas.
Only undergraduates of Nigerian polytechnics and universities are eligible to participate under the developmental component.
“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,” the document adds.
Interested applicants must apply on the dedicated online portal and provide all the requisite documents to support the application.
