In a bid to reduce unemployment, the Central Bank of Nigeria has developed the Tertiary Institutions Entrepreneurship Scheme (TIES), in partnership with Nigerian polytechnics and universities to harness the potential of graduate entrepreneurs (gradpreneurs) in Nigeria.
This was disclosed by the Central Bank of Nigeria in a circular, titled ‘Guidelines for the implementation of tertiary institutions entrepreneurship scheme’, dated October 2021.
The apex bank stated that the goal of the TIES is to enhance access to finance to undergraduates and graduates of polytechnics and universities in Nigeria with innovative entrepreneurial and technological ideas.
What the CBN is saying
The apex bank stated that the development of TIES was to address the trend of graduates seeking whitecollar jobs and turn their attention to the creation of jobs.
CBN stated that “the Scheme is designed to create a paradigm shift among undergraduates and graduates from the pursuit of white-collar jobs to a culture of entrepreneurship development for economic development and job creation.”
Regarding the grant, the CBN would distribute N500million among the top 5 tertiary institutions with the best pitch.
CBN said, “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 apex bank stated that it, ”shall constitute a Body of Experts (BoE) from the private and public sector for the biennial regional and national entrepreneurship competitions to evaluate entrepreneurial and technological innovations submitted by Nigerian polytechnics and universities. The Body of Experts (BoE) shall recommend projects with high potential and transformational impact for the grant award.”
Key higjlights of the guideline
- Projects financed under the Scheme shall be monitored by independent monitors jointly engaged by the CBN and PFI
- The Scheme would be operated for 10 years in the first instance (not exceeding 31st December 2031) depending on the complexity of the project.
- Interest payment and principal repayment should be made on a monthly or quarterly basis by the obligor depending on the established cash flow cycle and in line with the approved repayment schedule.
Eligibility criteria for participation
Applicants under the Scheme shall be graduates of Nigerian polytechnics and universities with:
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.
How do we register for the CBN grant?
How do I register
How do we apply for the loan, or where is the link to apply for this loan?
I need grant to start a business
How do we apply
Can undergraduate apply for this,?
Good day All, I will like to be shortlisted for this grant, it will go a long way in my business
Thanks you for the assistance, May God will assist you too. Base on that CBN GRANTS TO GRADUATES AND UNDERGRSDUATES ASSISTANCE,AND YOU SAID, GRADUATES FROM 7-YEARS BACK. But for I , I have graduated from University of Ibadan, Ibadan Nigeria since yesr 2008, could you believed that uptil now, I tried all of my efforts to get JOB but proved abortive, all the interview that I did, yielded negative because they were always asked me that “whom you know” is
in Nigeria to get JOB now adays. Kindly if you can add me to the grants. My mobile Phone ? number is +2348026112615, I have B.sc in Botany..
I want get this loan in order to improve my business to become lager so that I will be proud of it.i want to get this loan to become selferelie nice. I want to get this loan to achieve vision& mission
I want get this loan in order to employ other people.
I got my Nysc certificate yesterday and it was a thing of joy but I was unable to sleep thinking of where to start. I remember I attended the cbn program that held in the doom at municipality 3 months ago and coppers were given access to apply for this grant. My question is that what are the procedures? My measure want is to start doing my poultry farming as soon as possible. Already I have a land where I can use and how long would it take to furfill this grant? Please I need your reply.
I,m finishing my school since
but now, am a businessman, so please I need a loan to improve my business,
to stayed with my self in any condition of life,
and help with my family and other people in my country, THANKS FOR HELPED MY LIFE.
Good day Sir/ma,
The loan will go a long way in boasting my catering business by acquiring some utensils to make the work easier and better
Thank you so much
How do I register please?
No link to apply for the grant
I am a student I don’t have business name now.
I can’t offend business name right now
If I will given the money I will register it.
Thank you very much for this great opportunity. I have a registered company. We are into AGRICULTURE. We farm, harvest, refine the proceeds to be suitable for consumption. We produce and supply foodstuffs such as oil, garri, fufu, cocoyam, plaintain, palm kernel and banana. I will be grateful if my company be among the qualified.
Hello,how can I apply for this FEDERAL government grant. Pls help me send it to my mail address.thanks
Thank u CBN for the great offer, that will in hance our business.
i am student now but i dont have a business and also how can i get apply this programme of fg of cbn loan
I want to establish my business but I don’t have a capital.pls help me..
may Allah assist us to past good job.
How can we register
Thank to FG for bringing this type of idea to help Nigerian citizen, I am a graduate but know job, I manage small business which needed capital to make it big. Nobody ready to help plz show us how to apply for the loan. To be a graduate for 10years without job in a country where you were born as a citizen is so sad, what is the excess of be a graduate when there is no hope of getting a job immediately you are through with your NYSC. May God help us in this country. I know one day God will vindicate for hopeless Nigerian. Amen
I need a grant to start a business like farmer and other
Saniabdulhamid67@jmail.com Katsina state kofar bai Katsina carpenter
Saniabdulhamid67@jmail.com Katsina state kofar bai Katsina carpenter.
I need a grant to start my trading business
I need the grant to start a business
Please I need any capital or code of code of covid19 grant
I want the grant I do business