The Central Bank of Nigeria (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 CBN Tertiary Institutions Entrepreneurship Scheme (TIES) aims to provide an innovative financing model that will boost job creation, enhance entrepreneurship development, and support economic growth.

 

The Central Bank of Nigeria (CBN) Tertiary Institutions Entrepreneurship Scheme (TIES) 

CBN TIES Features:

1. Term Loan

Eligibility:

Graduates of any Nigerian university or polytechnic within the past seven (7) years with entrepreneurial interest.

Scope of activities:

  • 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; and
  • Science and technology – medical innovation, robotics, ticketing systems, traffic systems, renewable energy, waste management.

Requirements:

Apply online via the designated online portal (https://cbnties.com.ng) providing requisite information and documents, such as:

  • 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 potentials for export, job creation and transformational impact.

Female entrepreneurs are encouraged to apply.

Prohibition:

Trading activities shall not be eligible for financing under the Scheme.

Loan features:

  • 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
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OTHER JOBS AND SCHOLARSHIPS YOU MAY WISH TO APPLY

 

2. Equity Investment

Eligibility:

Start-ups, existing businesses expanding or ailing businesses.

Scope of activities:

The equity investments shall be in enterprises operating within the eligible scope of activities. Applications for participation under the window shall be through submission of application on https://cbnties.com.ng

Investment Limit:

Subject to the limit prescribed in the AgSMEIS Guidelines.

Investment Period:

i. Investment made shall be for a maximum period of ten (10) years (not exceeding December 31, 2031).

ii. There shall be a 3-year lock-in period before exit in order to encourage value creation and boost managerial capacity of business.

NOTE: The equity investment shall be implemented under the AgSMEIS Equity window.

3. Developmental (Grant) Component

Polytechnics and universities in Nigeria shall compete in the national biennial entrepreneurship competition to raise awareness and visibility of entrepreneurial or technological innovations among undergraduates. Applications for participation under the Development window shall be through submission of application on https://cbnties.com.ng

Body of Experts (BoE) shall be constituted from the private and public sector to evaluate entrepreneurial and technological innovations submitted by Nigerian polytechnics and universities.

Top five (5) polytechnics and universities at the national level shall be awarded the grant prize on the recommendation of the Body of Experts (BoE).

Grant awards:

  • First place – N150.0 million;
  • Second place – N120.0 million;
  • Third place – N100.0 million;
  • Fourth place – N80.0 million; and
  • Fifth place – N50.0 million.
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The grant shall be utilised specifically for the development of the awardwinning innovations and to support research and development of highimpact projects within or around the institution’s community.

Scope of activities:

Agribusiness, information technology, creative industry and science & technology.

NOTE: The Equity Investment and Developmental (Grant) Components would commence from April 2022..

For further information on the CBN TIES guidelines and other enquiries, please visit www.cbn.gov.ng

Signed: Director, Development Finance Department

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.

ALSO SEE: CBN Introduces N500m Grant for Nigerian Undergraduates and Graduates

 

Scholarships you may like to Apply:

UNSW Sydney Academic Scholarships for International Students

University of New Heaven Presidential Scholarships for International Students

Shell Career Training Program in Reservoir Engineering

Tiger Brands Young Talent Opportunities for Young South Africans

International Excellence Scholarship at London Metropolitan University, UK

Maurice R. Greenberg World Fellows Program at Yale University

Burger King Mclamore Foundation Scholarship 2022/2023

Hertie School New Perspectives Scholarship for International Students

2022 Davenport University Scholarships for International Students

WAEL Oil and Gas Recruitment for Graduates and Experienced Professionals

Arco Marine and Oilfield Services Limited (AMOSL) Graduate Opportunities

UNSW Global Academic Award to Study in Australia 2022

2022/2023 Marian University International Scholarships for Study in USA

Postdoctoral Fellowship on Food Security and the Environment at Stanford University

DAAD In-Country/In-Region Programme Sub-Saharan Africa (Masters and PhD Studies) 2022 Scholarship.

Mercedes-Benz South Africa Graduate Development Programme 2022 (Paid Traineeship)

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University of Toronto Fung Yiu King Memorial Scholarship

University of Copenhagen PhD Positions 2021-2022 [Paid Positions]

British Council International Collaboration Grants 2021 (£3.5m Support Grant)

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How to Apply for CBN Tertiary Institutions Entrepreneurship Scheme (https://cbnties.com.ng) 

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