2022 CBN Tertiary Institutions Entrepreneurship Scheme (TIES) for Nigerians
CBN Loan: The application is currently open for the 2022 CBN 5Million Loan for Nigeria University and Polytechnic Graduates.
All Nigerian graduates are encouraged to apply for the CBN Loan quickly. Kindly read all instructions and apply via the Apply Button provided below.
About the CBN TIES
The CBN, as part of its policy measures to address rising youth unemployment and underemployment, introduces the Tertiary Institutions Entrepreneurship Scheme (TIES) to create a paradigm shift among undergraduates and graduates of Nigerian polytechnics and universities, from seeking white-collar jobs to entrepreneurship. The Scheme aims to provide an innovative financing model that will boost job creation, enhance entrepreneurship development, and support economic growth.
The Tertiary Institutions Entrepreneurship Scheme (TIES) is an initiative targeted at empowering graduates of Nigerian Polytechnics and Universities with entrepreneurial skills for Entrepreneurship Development, Economic Development, and Job creation.
Brief Program Details
Eligible Qualifications: University and Polytechnic Graduates
Loan Value: 5Million Naira
Eligible Countries: Nigeria
Application Deadline: Open
Objectives of the CBN Tertiary Institutions Entrepreneurship Scheme (TIES)
The broad objective of the Scheme is to enhance access to finance by undergraduates and graduates of polytechnics and universities in Nigeria with innovative entrepreneurial and technological ideas.
Eligible Activities and Areas of Business
The activities to be covered under the Scheme shall include innovative start-ups and budding businesses owned by graduates of Nigerian polytechnics and universities in the following areas:
- Agribusiness – production, processing, storage, and logistics;
- Information technology – application/software development, business process outsourcing, robotics, data management;
- Creative industry – entertainment, artwork, publishing, culinary/event management, fashion, photography, beauty/cosmetics;
- Science and technology – medical innovation, robotics, ticketing
NOTE: Trading activities shall not be eligible for financing under the Scheme.
Loan Features – Value and Duration of the CBN TIES Loan
- N5.0 million for individual/sole proprietorship/small company projects; and
- N25.0 million for partnerships/company projects
- Interest rate: 5% per annum (9% effective from March 1, 2022, or as may be prescribed by the CBN)
- Tenor: Five (5) years
- Moratorium: 12 months
Who Can Apply for the CBN TIES Loan?
Graduates of any Nigerian university or polytechnic within the past seven (7) years with entrepreneurial interest are eligible to apply for the CBN loan.
Information and Document Requirements
The following documents and information is required for the application process:
- First-degree and NYSC discharge (or exemption certificate);
- Valid mobile phone number (linked to your NIN), BVN, NIN, TIN, and email address;
- Evidence of business registration (certified true copies of relevant CAC documents); and
- Corporate bank account number of business.
NOTE: Priority will be given to innovative entrepreneurial activities with high potential for export, job creation, and transformational impact.
Female entrepreneurs are encouraged to apply.
How to Apply
The application for the CBN %Million Naira loan is very simple and less tedious. Click the Apply Button below to begin your application.
Steps for Application
The application process begins with the TIES Loan pre-qualification registration. After registration, you are expected to log in and begin the application process. Kindly follow the steps provided below.
Step1: Click the Apply Button below. OR Click here to start your application.
Step2: Fill in the registration form on the application page accurately
Step3: Choose a password you can easily remember and submit your registration
Step4: Log in and begin your application
Step5: Fill in the application form properly
Kindly provide the accurate information required. Ensure you contact MyscholarshipNG for guidance where necessary.
Visit the CBN TIES Official Website for More Information