The CBN has implemented CBN N500K Grant for the Tertiary Institutions Entrepreneurship Scheme (TIES) to combat growing young unemployment and underemployment. To encourage students and recent graduates of Nigeria’s polytechnics and colleges to pursue business opportunities rather than traditional office work, the Central Bank of Nigeria (CBN) has launched the Tertiary Institutions Entrepreneurship Scheme (TIES). The Scheme’s intended purpose is to promote economic development, job creation, and entrepreneurial spirit by providing a novel finance form.
students in Nigerian universities and colleges are shifting their focus from finding office employment to starting their own businesses.
CBN N500K Grant Scholarships and fellowships are now available via CBN. Registration for the CBN N500k award through the new site is also live.
Independent monitors established jointly between CBN and MFIs would oversee the Projects supported under the plan, as stated by the Apex Ban.
Based on the scope of the project, the first implementation of this method is expected to begin no later than 31 December 2031.
Interest and principle payments are due on a monthly or quarterly basis, depending on the terms of the loan and the cash flow cycle.
Eligibility Criteria / CBN presents N500k scholarships to graduates
Graduates who meet the criteria get a N500 scholarship from the Central Bank of Nigeria. The initiative is intended for recent graduates of universities and polytechnics in Nigeria.
1. Bachelor’s or Higher National Diploma (or its equivalent);
2. Certificate of Discharge or Exemption from National Youth Service (NYSC);
3. certificates of completion from colleges and institutions attesting to the completion of an entrepreneurial program; and
4. No more than 7 years after completing National Youth Service
How to Get an N500,000 Grant from the Central Bank of Nigeria
To submit an application, please visit the bank’s official website.
step 1: Click HERE to go to the website
step 2: check out the Tertiary Institutions Entrepreneurship Scheme rules and regulations (TIES)
Step 3 Click on proceed button.
step 3: Decide What Kind of Loan You Need (Tier 1: Sole Proprietorship or Tier 2: Small Business or Enterprise).
Step 4. It may take a few seconds for your NYSC request to process once you provide your NYSC callup number in
, Step 5: Enter Your NYSC Certificate Number, Certificate Year, and Graduation Year
6. Enter Personal Information and Confirm It
7. Submitting the Form
Log in with your registered email address and password.
Submit a completed CBN Grant Application