CBN Apex bank launches entrepreneurial scheme for corps members, fresh graduates

Godwin Emefiele, CBN Governor on Tuesday, March 15, 2016 launched the Youth Initiative Entrepreneurship Development Programme for corps members.

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Godwin Emefiele, CBN Governor on Tuesday, March 15, 2016 launched the Youth Initiative Entrepreneurship Development Programme for corps members.

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Emefiele stated that the scheme was aimed at creating and developing about 10,000 fresh graduates and Corps members on business ideas and give a N3 million-naira start-up loan to those with distinct ideas.

The Central Bank of Nigeria and Heritage Bank are in charge of implementing the scheme.

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The governor said the corps members would be required to deposit their NYSC discharge certificates as collateral and the loan issued will be at a single digit interest rate.

The scheme will create about one million direct jobs in the next four years.

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