CBN promises seven years loan to corp members.
The Central Bank Of Nigeria (CBN) has said it will offer loans to National Youth Service Corps members to start business which they will repay in seven years.
The CBN governor, Dr.Godwin Emefiele who stated this in Abuja while receiving the NYSC Director-General Brig.
Gen. Shuaibu Ibrahim in his office revealed that the loan was conceived out of the need to reduce unemployment rate in the country.He added that NYSC members should attend the bank’s entrepreneurship training centers to acquire skills in various vocational areas for economic survival at the end of their national service instead of waiting for white collar jobs.
Emefiele recalled that an earlier programme, the Youth Entrepreneurship Development programme was launched by the bank in 2016 and served as a springboard for the empowerment of corp members and other youths for self-employment and wealth creation.
Emefiele also assured NYSC DG that the CBN microfinance bank will also support interested corpers in business financing.
Ibrahim requested the CBN’s support for the provision of more Zonal skills acquisition centres and modern equipment for the NYSC farms located in various parts of the country.
The CBN governor urged all corps members to follow guidelines in order to benefit from the program.