How To Easily Access CBN N500k Grants For Graduates And Undergraduates
If you are a Nigerian graduate or undergraduates in any recognized Polytechnic or University, this is your opportunity to access the CBN N500k Grants as we walk you through the procedure and process on how to access the grants.
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About The CBN N500k Grants For Graduates And Undergraduates
The Central Bank of Nigeria (CBN) developed the grant for graduates and students to reduce unemployment with the Tertiary Institutions Entrepreneurship Scheme (TIES), in partnership with Nigerian Polytechnics and Universities, to exploit the potential of graduate entrepreneurs in Nigeria.
The scheme is designed to create a paradigm shift from a “white-collar” job search culture in an entrepreneurial culture to economic growth and job creation between undergraduates and graduates.
APex Bank said TIES aims to increase access to finance for Nigerian polytechnic and university graduates and graduates with innovative business and technological ideas.
The Supreme Bank said the creation of the TIES aims to address the trend of white-collar job seekers and focus on job creation.
According to CBN “The top five polytechnics and universities in Nigeria with the best entrepreneurial trends/ideas will be awarded first place: N150 m; second place N120 m; third place N80 m; fourth place N80 m and fifth place. Location – N50m “,
Apex Bank has announced that it will form a private and public sector expert organization (BoE) for two-year regional and national entrepreneurship competitions to assess the entrepreneurial and technological innovations offered by Nigerian polytechnics and universities. BoE will recommend high-potential projects. and the variable impact on the award of the grant.
Important Things To Note About CBN N500 Grants for Graduates
1. Projects funded under the scheme will be monitored by independent monitors set up jointly by CBN and MFIs.
2. This scheme will run for the first time (no later than 31 December 2031) in 10 years, depending on the complexity of the project.
3. Repayment of interest and principal must be made on a monthly or quarterly basis according to a set cash flow cycle and according to an approved repayment schedule.
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Below are the requirements to access the CBN N500k Grants For Graduates:
i. Applicants under the scheme will be graduates of Nigeria Polytechnics and Universities:
ii. First-degree certificate (BSc/HND/ or it is equivalent);
iii. National Youth Service Certificate (NYSC) discharge or exemption certificate;
iv. Certificate of Participation issued by polytechnics and universities evidencing entrepreneurship training; and
v. Not more than 7 years post-NYSC
How to Apply for CBN Graduates Grants
All Interested and qualified applicants should kindly visit cbnties.com.ng to apply