The Central Bank of Nigeria introduced a n initiative targeted at empowering graduates of Nigerian tertiary institutions with entrepreneurial skills for Entrepreneurship development, Economic development and Job creation in order to boost economic growth and reduce unemployment in Nigeria. The Scheme is for graduates of Nigerian Universities and Polytechnics that have successfully completed their NYSC and have collected their Discharge or Exemption Certificate. Undergraduates are NOT eligible. The Scheme shall be implemented through three (3) components which are as follows: Term Loan Component; Equity Investment Component; Developmental Component Amount to be accessed Tier 1 – Individual projects: Loan limit of N5Million for a tenor of 5 years Tier 2 – Partnership / Company projects (with maximum 5 individual partners) : Loan limit of N25 million for a tenor of 5 years The interest rate for this scheme is 5% per annum (shall be 9% effective from March 1, 2022 or...
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