The Central Bank of Nigeria has said it will offer loans to National Youth Service Corps members to start small and medium scale enterprises, 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, noted that the loan was conceived out of the need to reduce unemployment rate in the country.
Emefiele added that the NYSC members should attend the bank’s entrepreneurship training centres “to acquire skills in various vocational areas for economic survival at the end of their national service instead of waiting for white-collar jobs.”
According to a release by the NYSC on Thursday, Emefiele added that upon completion of their training, the loans would be given to corps members to provide support for acquiring working tools and rent of business offices or workshops. Read more
