CBN Promises Seven Years Loans For NYSC Members

The Central Bank of Nigeria (CBN), has said it will offer loans to National Youth Service Corps (NYSC) members to start small scale business, which they will repay in seven years. The CBN Governor, Dr Godwin Emefiele, who stated this in Abuja while receiving the NYSC Director-General, Brig. Gen. Shuaibu Ibrahim, in his office, noting that the loan was conceived out of the need to reduce unemployment rate in the country. You may like to check how to apply for NYSC business loan.

Emefiele added that the NYSC members should attend the bank’s entrepreneurship training centres “to acquire skills in various vocational areas for economic survival at the end of their national service instead of waiting for white-collar jobs.”

According to a release by the NYSC on Thursday, Emefiele added that upon completion of their training, the loans would be given to corps members to provide support for acquiring working tools and rent of business offices or workshops.

The statement added, “The Central Bank of Nigeria has expressed willingness to provide further opportunities of self-employment for corps members through its skill acquisition training. The CBN governor explained that upon completion of training, beneficiaries would get the cumulative value which represents a loan that would be repaid within seven years with a two-year moratorium.

He recalled that an earlier programme, the Youth Entrepreneurship Development Programme was  launched by the bank in 2016 and served as a springboard for the empowerment of corps members and other youths for self-employment and wealth creation.

Emefiele assured the NYSC DG that the CBN National Microfinance Bank would also support interested corps members in business financing. He advocated the patronage of the Nigerian textile industry, which he described, as the largest employer of labour in the country in the 1990s.

The NYSC DG also noted that the visit was to enhance more robust collaboration with the bank in the area of empowerment of corps entrepreneurs.

Ibrahim requested the CBN’s support for the provision of more zonal skills acquisition centres and modern equipment for the NYSC farms located in various parts of the country.

This post was first published on nyscinfo.com. DMCA protected!

Source: nyscinfo

36 thoughts on “CBN Promises Seven Years Loans For NYSC Members”

  1. Pls what is happening with dis loan, I need dis loan,av try to logging to d site u gave us but is not avail….we all need dis loan. ..pls help d youth and help d Nation…thank u…Am 19B stream 1

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  2. Please I’m struggling lady looking for means to survive please help me apply for this loan,I’m batch B1 2019.

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  3. Iam 2019 Bach A ex-courper am into business I need to finance the business, please help me with this loan.

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    • I am present serving corps member, I have interest on this loan, pls how can I get mine and what steps to follow to get it.

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  4. Am a corps member, I have a mini business center, I need this loan to make it standard. Thanks

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  5. I’m 2019 Ex-corper pls I need these loan, cos I’m at home doing nothing and I want start small business but I don’t have the means to start it.

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  6. Am a corp member dealing in small business of buying and selling female clothes I will like to have more capital to enhance my business.thanks

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  7. I am an ex-corps member. Please I urgently need cash to support and develope my Polythene factory. In anticipation for directions, I appreciate you for creating a forum as this. Thank you.

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  8. Have seen any one that has collected the loan before. Because all this thing can be a scam, Nigeria herself is a scam

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  9. I am an ex corps member who’s highly interested in this loan to start my business. I just finished my service last month, I will be glad if am included in this move to help the graduate

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  10. I’m now ex coper, am also intresting in the loan and i have a better plan for the money i have been leaning production throughout my school days now that am through with my service year starting production on my own is my goal and ambition so i need capital to execute this business. Please i need this loan to start with something

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  11. The govt are just too useless and shameless for saying they would give we corp members loans instead of them granting us atleast minimum of #1,000,000 so that we can establish ourselves after service year. But instead they wants to steal from us and take back the alawee in a tricky way. C.B.N governor please you guys should re think to secure a better future for we the youths of this country. I rest my case.

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  12. I am interested if I will be given the chance. I can open up food processing in a big way and also employer people as well.

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  13. I am a serving Corp member, I have a business idea all I need is capital to start something small.

    Reply

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