CBN: TIES Graduate Grant (Up To N5 Million)

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CBN TIES Undergraduate & Graduate Grant 2021| CBN has open TIES Grant portal only for  Undergraduate & Graduate of Nigerian polytechnics and universities. How to apply for CBN TIES Undergraduate & Graduate Grant, If you are one of the Undergraduate or Graduate from any of the Nigerian polytechnics and universities and looking for where to get Money to establish and produce good for consumption, Apply for CBN TIES Grant. https://cbnties.com.ng/

The Central Bank of Nigeria, pursuant to the CBN Act, 2007 and as part of its policy measures to address rising youth unemployment and underemployment, developed the Tertiary Institutions Entrepreneurship
Scheme (TIES), in partnership with Nigerian polytechnics and universities to harness the potential of graduate entrepreneurs (gradpreneurs) in Nigeria.

Related:

The Scheme is designed to create a paradigm shift among undergraduates and graduates from the pursuit of white-collar jobs to a culture of entrepreneurship development for economic development and job creation. The Scheme thus aims to provide an innovative financing model that will
create jobs, enhance the entrepreneurial ecosystem and support economic growth and development.

Grants:

Five (5) top Nigerian polytechnics and universities with the best entrepreneurial pitches/ideas shall be awarded as follows:

TIES Term Loan Pre-Qualification:

Loan Type:
Tier 1 – Sole Proprietorship
Description: For sole proprietorship businesses, limited liability companies and small companies as defined by CAMA
Tenor:  5 years
Loan Limit:  N5 million
Interest Rate:  5% from now to February 28, 2022 ( and 9% from March 1, 2022)
Moratorium:  Maximum of 12 months (dependent on type of business)
Loan Type:
Tier 2 – Small Company / Enterprise
Description: For Partnerships registered either as Limited Liability Companies and Small Companies as defined by CAMA
Tenor: 5 years
Loan Limit: N25 million
Interest Rate: 5% from now to February 28, 2022 ( and 9% from March 1, 2022)
Moratorium: Maximum of 12 months (dependent on type of business)

The grants shall be in the following areas:

  1. Agribusiness
  2. Information technology
  3. Creative industry
  4. Science and technology

Eligibility;

A graduate or undergraduate to be eligible to participate in the CBN N500m grant the following Investment Companies in Nigeria Requirements for CBN N500 million grant must be met.

  • Applicants must be graduates of Nigerian universities or polytechnics
  • Must possess First Degree Certificate (BSc, HND, or it is equivalent)
  •  Applicants must possess National Youth Service Corps (NYSC) Certificate (Discharge or Exemption letter)
  •  Must have a certificate of participation issued by a university or polytechnic as evidence of entrepreneurship training
  • Must not be more than 7 years of post NYSC

How To Apply

To Apply for this Scheme, applicants will have to apply online via CBN dedicated portal. Kindly note that the application portal is not live yet. We will update this page once the online portal is live and ready to receive applications.

The CBN said it would distribute N500 million among the top five tertiary institutions with the best entrepreneurial pitches or ideas.

Apply Here

For more Information Download Guideline on PDF

[googlepdf url=”https://eduschoolnews.com/wp-content/uploads/2021/10/CBN-TIES-Guidelines.pdf” download=”Download” ]

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