How To Apply For CBN Grant

In this article, we will take you through how to apply for CBN grant. The CBN awards graduates and undergraduates grants totaling N500 million. The Central Bank of Nigeria is making yet another significant effort to reduce unemployment in Nigeria. Grants for graduates and students have been offered by the Central Bank of Nigeria. You must complete the application on the official website, cbnties.com.ng, to register for the CBN N500k grant. In collaboration with universities and polytechnics in Nigeria, the Bank created the Tertiary Institution Entrepreneurship Scheme (TIES) to harness the potential of Nigeria's graduate entrepreneurs.

The Central Bank of Nigeria recently published a circular titled "Guidelines for the Implementation of the Entrepreneurship Scheme of Tertiary Institutions" that included information on the grant. According to the apex bank, TIES intends to enhance access to capital for polytechnic and university students and graduates in Nigeria who have creative business and technological ideas. According to the top bank, it will "create a body of private and public sector experts (BoE) for biannual regional and national entrepreneurship competitions to evaluate the entrepreneurial and technological ideas submitted by Nigerian polytechnics and universities. For grant awards, (BoE) will recommend projects with great potential and revolutionary impact.

Guideline for CBN Grants

• Projects financed under the scheme will be monitored by independent monitors engaged jointly by CBN and PFI.
• The scheme will be run for 10 years for the first time (not exceeding 31 December 2031) depending on the complexity of the project.
• Interest payments and principal repayments must be made on a monthly or quarterly basis based on the established cash flow cycle and as per the approved repayment schedule.

Eligibility Requirements For Participation In CBN Grant

Applicants under the scheme shall be graduates of Nigerian polytechnics and universities:

• First-degree certificate (BSc/HND/ or it is equivalent);
• National Youth Service Certificate (NYSC) discharge or exemption
• certificate;
• Certificate of Participation issued by polytechnics and universities
• evidencing entrepreneurship training
• Not more than 7 years post-NYSC.

Register For CBN Grant Updates

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