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Published On: Wed, Mar 16th, 2016

Youth Corpers, Fresh Graduates to Receive N3m from Central Bank of Nigeria

CBN Governor, Emefele

CBN Governor, Emefele

Nigeria,CBN,E
LAGOS MARCH 16TH (URHOBOTODAY)-The CBN Governor, Mr. Godwin Emefiele, who launched the Youth Initiative Entrepreneurship Development Programme for corps members, said the scheme would be implemented by the central bank and Heritage Bank.
He said the initiative would enable serving corps members as well as fresh graduates with good business ideas to assess N3m to start up their business.
The governor stated that while the loan would be given to corps members at single digit interest rate, they would be required to deposit their NYSC discharge certificates as collateral for the credit facility.
According to him, the bank is targeting 10,000 youth corps members in the pilot phase of the scheme, adding that this would help to create about one million direct jobs in the next four years.

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