CBN provides loans to NYSC members for entrepreneurship

The Central Bank of Nigeria (CBN) has expanded its skill acquisition training for fresh graduates in Nigeria undergoing National Youth Service Corps (NYSC) to provision of loans for entrepreneurship scheme in small and medium scale investments.

The CBN Governor, Godwin Emefiele, hosting the NYSC Director-General, Brig. Gen. Shuaibu Ibrahim, in his office in Abuja disclosed that the apex bank will offer loans to NYSC members to start small and medium scale enterprises which are repayable in seven years.

Emefiele explained that the loan scheme is to help fight unemployment in Nigeria.

The CBN Governor had said that the loans will be disbursed on the completion of the NYSC members’ skill acquisition training, to provide capital assistance in acquiring necessary operational tools, rent of business offices or workshops.