Quick And CBN N500M Grant For Student

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The Central Bank of Nigeria (CBN) has launched the Tertiary Institutions Entrepreneurship Scheme (TIES), which includes an N500,000 grant for Nigerian graduates and undergraduates. This initiative, developed in partnership with polytechnics and universities in Nigeria, aims to unlock the entrepreneurial potential of young Nigerians to drive economic growth and job creation.

Objectives of the TIES Scheme:

  • Empower Nigerian graduates with entrepreneurial skills.
  • Facilitate economic development.
  • Enhance job creation.
  • Enable access to finance for graduates with innovative entrepreneurial and technological ideas.

Eligibility Criteria for the CBN N500K Grant:
To be eligible for the CBN N500,000 grant, applicants must meet the following requirements:

  • Hold a degree from a Nigerian polytechnic or university.
  • Possess a first-degree certificate (BSc/HND or equivalent).
  • Have a National Youth Service Certificate (NYSC) discharge or exemption certificate.
  • Obtain a Certificate of Participation from polytechnics and universities, confirming completion of entrepreneurship training.
  • Should not be more than 7 years post-NYSC.

Application Process:
Follow these steps to apply for the CBN N500K Grant:

  1. Preparation: Gather all necessary documents, including educational certificates, NYSC discharge or exemption certificate, and the Certificate of Participation in entrepreneurship training.
  2. Online Application: Visit the CBN’s official application portal for the N500k Grant. Fill out an online form with your contact details, qualifications, and business plan.
  3. Review and Submit: Double-check the accuracy of the information provided before submitting the application.
  4. Evaluation: Your application will be reviewed and assessed based on its viability, innovativeness, and alignment with the objectives of the TIES scheme.
  5. Notification: Successful candidates will be notified and guided on the next steps for fund disbursement.

Key Takeaways:

  • This grant provides an excellent opportunity for young Nigerian entrepreneurs to bring their business ideas to life.
  • The grant can serve as a financial runway for early-stage startups or a boost for existing small businesses.
  • The CBN is committed to promoting economic development and job creation through youth empowerment.

Additionally, the top five Nigerian polytechnics and universities with the best entrepreneurial pitches/ideas will be awarded as follows:

  • First place: N250.0 million
  • Second place: N150.0 million
  • Third place: N100.0 million
  • Fourth place: N75.0 million
  • Fifth place: N50.0 million

The grants will be awarded in the following areas: Science and technology, Information technology, Agribusiness, and Creative industry.

Remember, the CBN will never charge you or ask for payment to submit your loan application or access the loan.

You can apply for CBN N500K Grants by following the procedures outlined below:

  1. Visit the official portal at https://cbnties.com.ng.
  2. Read and carefully follow the instructions provided.
  3. Click on “Proceed.”
  4. Select the loan type: either Tier 1 – Sole Proprietorship or Tier 2 – Small Company/Enterprise.
  5. Enter your NYSC Callup Number. Note that the NYSC request might take a minute to go through.
  6. Fill in your NYSC Certificate Number, Year Of NYSC Certificate, and Year of Graduation.
  7. Provide your personal details and click on “Validate.”
  8. Verify your email and log in with your valid credentials.
  9. Fill out the CBN Grant Form and submit.

Keep in mind that the CBN’s official portal will provide the latest updates regarding the CBN loan grants.

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