CBN N500k Grants For Graduates – Apply Here

CBN N500k Grants For Graduates – CBN has created grants for graduates and students. The new CBN N500k grant registration portal has also been activated.

The Apex Bank has stated that its Tertiary Institutions Entrepreneurship Scheme (TIES) aims to improve access to finance for Nigerian polytechnic and university graduates, as well as graduates with innovative business and technical ideas.

CBN N500k Grants Objectives

According to the central bank, the main goal of establishing TIES is to reverse the trend of white-collar job seekers and instead focus on job creation.

“The scheme is intended to create a paradigm shift in an entrepreneurial culture from a “white-collar” job search culture to economic growth and job creation among undergraduates and graduates,” according to CBN.

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CBN will allocate funds for grants. One of the top five third-best distribution companies.

CBN said: “The top five polytechnic’s and universities in Nigeria with the best entrepreneurial trends / ideas will be awarded first place: N150 m; second place N120 m; third place N80m; fourth place N80 m and fifth place. Location – N50m “.

The Apex Bank has announced the formation of a private and public sector expert organization (BoE) to assess the entrepreneurial and technological innovations offered by Nigerian polytechnic’s and universities over a two-year period. The Board of Education will recommend high-potential projects. as well as the variable impact on grant award.

Key Highlights of N500k Grants for Graduates 

According to the central bank, the main goal of establishing TIES is to reverse the trend of white-collar job seekers and instead focus on job creation.

“The scheme is intended to create a paradigm shift in an entrepreneurial culture from a “white-collar” job search culture to economic growth and job creation among undergraduates and graduates,” according to CBN.

CBN will allocate funds for grants. One of the top five third-best distribution companies.

The scheme’s funded projects will be monitored by independent monitors appointed jointly by the CBN and MFIs.

Interest and principal must be repaid on a monthly or quarterly basis, in accordance with a specified cash flow cycle and an approved repayment schedule.

Eligibility Criteria for CBN N500k Graduates Grants 

Applicants for the scheme will be graduates of Nigerian polytechnic’s and universities:

i. A first-degree certificate (BSc/HND/or an equivalent qualification);

ii. A discharge or exemption certificate from the National Youth Service Certificate (NYSC);

iii. Participation certificates from polytechnic’s and universities demonstrating entrepreneurship training; and

iv. A maximum of 7 years post-NYSC

How to Apply For CBN N500k Graduates Grants

To apply for CBN N500k graduates Grants, visit CBNTIES portal and fill out the application form.