CBN Tertiary Institutions Entrepreneurship Scheme (TIES) for Graduates – Are you a Nigerian graduate? Are you a Serving Nigerian Youth Service Corp (NYSC) member? Have you heard about the Central Bank of Nigeria (CBN) Tertiary Institutions Entrepreneurship Scheme (TIES) for Graduates, If yes, this article is for you. Read more below.
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The Central Bank of Nigeria (CBN) has brought out a initiative to empower Nigeria graduates especially serving NYSC members with entrepreneurial skills for Entrepreneurship development, Economic development and Job creation.
About the Central Bank of Nigeria (CBN) Tertiary Institutions Entrepreneurship Scheme (TIES)
The Central Bank of Nigeria (CBN), as part of its policy measures to address rising youth unemployment and underemployment, introduces the Tertiary Institutions Entrepreneurship Scheme (TIES) to create a paradigm shift among undergraduates and graduates of Nigerian polytechnics and universities, from seeking white-collar jobs to entrepreneurship.
The CBN Tertiary Institutions Entrepreneurship Scheme (TIES) aims to provide an innovative financing model that will boost job creation, enhance entrepreneurship development, and support economic growth.
More information about the Central Bank of Nigeria (CBN) Tertiary Institutions Entrepreneurship Scheme (TIES)
1.Term Loan
Eligibility:
Graduates of any Nigerian university or polytechnic within the past seven (7) years with entrepreneurial interest.
Scope of activities:
- Agribusiness – production, processing, storage, and logistics;
- Information technology – application/software development, business process outsourcing, robotics, data management;
- Creative industry – entertainment, artwork, publishing, culinary/event management, fashion, photography, beauty/cosmetics; and
- Science and technology – medical innovation, robotics, ticketing systems, traffic systems, renewable energy, waste management.
2.Equity Investment
Eligibility:
Start-ups, existing businesses expanding or ailing businesses.
READ: 2023/2024 CBN AGSMEIS Loan Investment Scheme – Apply Here
Scope of activities:
The equity investments shall be in enterprises operating within the eligible scope of activities. Applications for participation under the window shall be through submission of application on the application portal
Investment Limit:
Subject to the limit prescribed in the AgSMEIS Guidelines.
Investment Period:
- Investment made shall be for a maximum period of ten (10) years (not exceeding December 31, 2031).
- There shall be a 3-year lock-in period before exit in order to encourage value creation and boost managerial capacity of business.
NOTE: The equity investment shall be implemented under the AgSMEIS Equity window.
3.Developmental (Grant) Component
Polytechnics and universities in Nigeria shall compete in the national biennial entrepreneurship competition to raise awareness and visibility of entrepreneurial or technological innovations among undergraduates. Applications for participation under the Development window shall be through submission of application on application portal
Body of Experts (BoE) shall be constituted from the private and public sector to evaluate entrepreneurial and technological innovations submitted by Nigerian polytechnics and universities.
Top five (5) polytechnics and universities at the national level shall be awarded the grant prize on the recommendation of the Body of Experts (BoE).
Grant awards:
- 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 grant shall be utilized specifically for the development of the award[1] winning innovations and to support research and development of high[1] impact projects within or around the institution’s community.
Scope of activities:
Agribusiness, information technology, creative industry and science & technology.
How to Apply
Kindly Click or visit www.cbnties.com.ng
Then follow the steps and guidelines provided in the link
NOTE: The Equity Investment and Developmental (Grant) Components would commence from April 2022..
For further information on the CBN TIES guidelines and other enquiries, please visit www.cbn.gov.ng
Signed: Director, Development Finance Department
Application Deadline
None Yet
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