Tertiary Institutions’ Entrepreneurship Scheme (TIES) - CBN
The Central Bank of Nigeria (CBN) announces the development of Tertiary Institutions’ Entrepreneurship Scheme (TIES) to re-orientate, train and finance entrepreneurship ideas of Nigerian university graduates. The CBN Governor, Godwin Emefiele, disclosed the TIES on Monday at the 35th Conference of Vice-Chancellors of Nigerian Universities, held at the Kano State University of Science and Technology. Represented by Adebowale Olabimtan-Idowu, CBN Deputy Director, Development Finance, Emefiele said there was need to re-orientate youths from waiting for white collar jobs to entrepreneurship.
Tertiary Institutions’ Entrepreneurship Scheme (TIES) is a scheme designed to support the development of entrepreneurial mind-sets and culture, through the introduction of a platform that provides seamless access to affordable finance/loan/grant by graduates. READ – Register for Fmardpac AFJP Farmers Loan
The TIES will assist in creating employment for many youths graduating from various institutions of higher learning in the country annually.
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According to records from NYSC, about 600,000 graduates from our tertiary institutions enter the labour market annually, after participating in the National Youth Service Corps (NYSC) programme, seeking the already thinned out white collar jobs. The situation has contributed significantly to the rising youth unemployment across the country. The proposed TIE scheme would also provide a platform for building digital skills relevant to Nigeria’s broader developmental goals. He explained that efforts were ongoing aimed at addressing the impacts of the COVID-19 pandemic on production sectors and dwindling oil revenues in the country. “Micro, Small & Medium Enterprises (MSMEs) portend great opportunities for addressing these gaps and accelerating economic growth by leveraging our vibrant youth population,” Mr. Emefiele concluded.
The TIES is a proposed scheme and has now been approved, interested applicant should visit https://cbnties.gov.ng to begin application
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