CBN votes N2.5b for NYSC entrepreneurs

CBN Governor, Godwin Emefiele

CBN Governor, Godwin Emefiele

Members of the National Youth Service Corps with good entrepreneurial skills can now access N2.5 billion loans provided by the Central Bank of Nigeria (CBN).

The loan is part of the N220 billion set aside for the small and medium enterprises, which has been lying fallow since it was released in 2012.

Speaking at the kick-off of training for the first batch of applicants under the Youth Entrepreneurship Development Programme (YEDP), yesterday in Abuja, the CBN Governor, Mr. Godwin Emefiele, said that each corps member was entitled to a maximum of N3 million, adding that their degree certificates as well as the NYSC discharge certificates would serve as collateral.

Emefiele expressed optimism that the youths will exhibit the highest level of probity and responsibility in paying back the loan as no youth would like to toy with his degree certificate or NYSC discharge certificate.

In all, about 1,500 corps members are participating in the entrepreneurship training which is taking place simultaneously all over the country.

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1 Comment
  • Adesewa Ogunsanya

    This is really good. I’m happy Nigeria is realising this at this moment. It opens various doors for numerous job opportunities and it is a great encouragement for our youth.