Varsity, Polytechnic Graduates Get N4-N5million CBN’s ‘TIES’ Loans

Selected graduates from universities and Polytechnics in the country were on Thursday presented loans ranging from N4.1m to N5m at the launched of the Tertiary Institutions Entrepreneurship Scheme, ‘TIES’ designed to tackle underemployment and unemployment in the country.

Governor of the Central Bank of Nigeria, Mr Godwin Emefiele at the launching ceremony said it’s imperative for government at all levels to put in place policy measures to support entrepreneurial development among youths amid the lack of adequate employment opportunities.

Emefiele said, such measures would create an enabling business ecosystem that supports innovation and enables the youth to unleash their entrepreneurial potential, by redirecting their focus from seeking white-collar jobs to a culture of entrepreneurship development.

His words, “The scheme, developed in partnership with Nigerian polytechnics and universities, is designed to harness the potentials of graduate entrepreneurs by creating a paradigm shift from the pursuit of white-collar jobs to a culture of entrepreneurship for economic development and job creation,” he said.

“The ecosystem should provide support in re-orientating, training, and providing a financing model apt to the peculiarity of the sector within which the businesses operate,” he added.