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CBN Tertiary Institutions Entrepreneurship Scheme Loan For Young Nigerians 2022

CBN developed the Tertiary Institutions Entrepreneurship Scheme (TIES),to address rising youth unemployment. TIES application form 2021 is now available on the TIES portal.

The Scheme shall be implemented through three (3) components:

Term Loan Component;

Equity Investment Component; and

Developmental Component.

Details

Tertiary Institutions Entrepreneurship Scheme (TIES) 2021 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. The Scheme thus aims to provide an innovative financing model that will create jobs, enhance the entrepreneurial ecosystem and support economic growth and development.

 Requirements 

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 beneficiary shall:

1.Apply on the dedicated online portal and provide all requisite documentation to support the application;

2.Present for verification original copies of submitted certificates and documents;

3.Submit business proposal and other documentation requirements

4.Adhere strictly to the terms and conditions of the Scheme and avoid any forms of plagiarism in the project idea

5.Utilize the funds for the purpose for which it was granted.

6.Present the business and its location for mapping/tagging, as well as monitoring and evaluation.

7.Maintain accurate and up-to-date records available for inspection/verification by the CBN and Monitoring Team.

8.Adhere strictly to the terms and conditions of the Scheme.

Reward

Five (5) top Nigerian polytechnics and universities with the best entrepreneurial pitches/ideas shall be awarded as follows:

  • First place – N150.0 million;
  • Second place – N120.0 million;
  • Third place – N100.0 million;
  • Fourth place – N80.0 million; and
  • Fifth place – N50.0 million.

The grants shall be in the following areas:

  • Agribusiness;
  • Information technology;
  • Creative industry; and
  • Science and technology.

Required Documents

To apply, candidates must be ready to submit the following documents;

       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;

      Letter confirming the applicants’ deposit of required certificates from PFI;

       Projected Statement of Income, Statement of Affairs, and cash flow projections for start-ups and businesses with less than 3 years of operations;

        Business plan outlining details, financials and economic benefits of the project.

HOW TO APPLY :

To apply, click on the link below 

https://cbnties.com.ng/

I wish you best of luck 😍 

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