The Central Bank of Nigeria (CBN), on Wednesday, rolled out a new grant for Nigerian graduates and undergraduates in a bid to reduce the increasing rate of unemployment in the country. The grant is developed under the Tertiary Institutions Entrepreneurship Scheme (TIES), in collaboration with Nigerian universities and polytechnics to harness the potential of graduate entrepreneurs in Nigeria. Here we shall look at the requirements for accessing the CBN N500m grant for undergraduates and graduates.
According to CBN, TIES is to enable undergraduates and graduates of polytechnics and universities in Nigeria to access fund to start up a business.
CBN noted 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.”
CBN Grant Application Requirements (CBN N500 million grant for undergraduates and graduates)
Below are the criteria for participation:
- Applicants must be graduates of Nigerian universities or polytechnics,
Must possess First Degree Certificate (BSc, HND, or it is equivalent),
Applicants must possess National Youth Service Corps (NYSC) Certificate (Discharge or Exemption letter),
Must have a certificate of participation issued by a university or polytechnic as evidence of entrepreneurship training,
Must not be more than 7 years of post-NYSC
How to Apply for CBN N500m Grant for Undergraduates and Gradupates
We will update this page once there is new information regarding the CBN TIES loan.
Note: The CBN said it would distribute N500million among the top five tertiary institutions with the best entrepreneurial pitches or ideas.
- 1st position takes N150m,
- 2nd position goes with N120m,
- 3rd position is N100m,
- 4th place is N80m, and
- 5th position takes N50m.