cbnties.com.ng | How To Apply For CBN TIES N500m Grant
The Central Bank of Nigeria (CBN) has said it has introduced a new 500 million Naira Tertiary Institution Entrepreneurship Scheme grant to support youths in tertiary institutions, and as well as graduates. According to CBN, the grant is meant to promote entrepreneurship and reduce unemployment in the country.
5 top Nigerian polytechnics and universities with the best entrepreneurial ideas shall be awarded as follows:
- First place=N150m
- Second place=N120m
- Third place=N100m
- Fourth place=N80m
- Fifth place=>N50m.
Activities to be covered under the Scheme shall include innovative start-ups and existing businesses owned by graduates of Nigerian polytechnics and universities in the following areas:
- Agribusiness – production, processing, storage and logistics;
- Information technology – application/software development, business process outsourcing, robotics, data management;
- Creative industry – entertainment, artwork, publishing, culinary/event management, fashion, photography, beauty/cosmetics;
- Science and technology – medical innovation, robotics, ticketing systems, traffic systems, renewable energy, waste management; and
- Any other activity as may be determined by the CBN from time to time.
Eligibility Criteria for Participation
Applicants under the Scheme shall be graduates of Nigerian polytechnics and universities with:
- First degree certificate (BSc/HND/ or its equivalent);
- National Youth Service Certificate (NYSC) discharge or exemption certificate;
- Certificate of Participation issued by polytechnics and universities evidencing entrepreneurship training; and
- Not more than 7 years post-NYSC.
Interested applicants must submit an application through the designated online portal and provide all the required documentation to support the application.
Note: Priority will be given to entrepreneurial ideas with high potential for export, job creation, and transformational impact.