The Central Bank of Nigeria (CBN) on Wednesday announced a new grant for Nigerian graduates and undergraduates to curb rising unemployment in the country.
Afriupdate News reports that the grant was developed under the Tertian Institutional Entrepreneurship Scheme (TIES) in collaboration with Nigerian universities and polytechnics to exploit the entrepreneurial potential of Nigerian graduates.
According to CBN, TIES aims to enable Nigerian polytechnics and university bachelors and graduates to access funds to start a business.
CBN notes that the scheme is designed to create a paradigm shift from white-collar search in an entrepreneurial development culture to economic growth and job creation among students and graduates.
![[FILE] A health worker administers dose of a Covid-19 vaccine to a person in Bimbo, near Bangui, on November 15, 2021. For the health authorities in the Central African Republic, the second least developed in the world according to the UN and in civil war since 2013, the challenge is as much to obtain the vaccine as to convince people of its necessity, as elsewhere on the continent.. (Photo by Barbara DEBOUT / AFP)](https://www.afriupdate.com/wp-content/uploads/2021/11/vaccination-1062x598-1.jpg "December 1 deadline: Get vaccinated if you love your job, FG tells workers 4")
Requirements for CBN N500m Grant
- Applicants must be a citizen of Nigeria
- Applicants must be a graduate of Nigerian University or polytechnic
- Applicant must possess First Degree Certificate (BSc, HND, or it is equivalent).
- Applicant must possess National Youth Service Youths (NYSC) discharge certificate or exemption letter
Below are the criteria for participation:
How to Apply for CBN N500m Grant for Undergraduates and Graduates
The CBN grant application is online via CBN dedicated portal. Kindly note that the portal is now open for application. To apply, check out CBN TIES Loan Application Portal.
We will update this page once there is new information regarding the CBN TIES loan.
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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
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I need the Grant for my poultry business. Thanks in anticipation
I need the loan for my poultry business. Thanks in anticipation