The Central Bank of Nigeria in partnership with Heritage Bank on Thursday in Abuja disbursed N93 million to 310 youthful business entrepreneurs in the nation.
The CBN Governor, Godwin Emefiele, spoke to by the Deputy Governor, Corporate
Services, Alhaji Sulieman Barau, presented a N3 million cheque to each of the youthful business entrepreneurs.
The payment was done under the protection of the bank's Youth Entrepreneurship Development Program as a team with the National Youth Service Corps.
Emefiele said that the YEDP activity was intended to rouse and gather the entrepreneurial capacities of Nigerian young people toward making more than one million direct employments by 2020.
He said that the program was interested in those between the ages of 18 and 35 years, who are serving corps individuals, graduates or artisans.
He included: "To overcome the bottleneck of collateral prerequisites for credits, the recipients' academic and NYSC certificate, third party guarantees and mobile assets are permitted as worthy collateral under the program.
"The program has a rotating fund with focus to make more than one million direct employments.
"We support every Nigerian youth that are keen on being their own boss to apply online through the participating l banks."
Emefiele said the bank had likewise started YEDP with other deposit cash banks, for example, Sterling Bank Plc and Fidelity Bank Plc.
He said that effective youth enterprise under the YEDP were relied upon to graduate to different interventions of the bank with bigger fund opportunities.
How are they carrying out the empowerment without the proper sensitization, what was the modality or structure used in empowering these youths as well as their location and their businesses. This is really appalling
ReplyDelete