CENTRAL BANK OF NIGERIA N500k TIES Grant Application Portal


CBN N500k TIES Grant Application Portal

The Central Bank of Nigeria, CBN Tertiary Institutions Entrepreneurship Scheme (TIES) grant was initiated to curb unemployment and increase access to finance among the youths of the country, most especially the graduates from different Universities, Polytechnics and Colleges.

Note, youths or graduates who wants to apply for the CBN TIES grant must have innovative business and technical ideas.

Central Bank of Nigeria (CBN) N500K TIES Grant

According to the central bank, the main aim of creating TIES is to suppress the trend of white-collar job seekers and concentrate more on job creation.

The top five polytechnics and universities in Nigeria with the best entrepreneurial trends/ideas will be awarded.

  • First Position: One Hundred and Fifty Million Naira (N150 million)
  • Second Position: One Hundred and Twenty Million (N120 million)
  • Third Position: Eighty Million Naira (N80 million)
  • Fourth Position: Eighty Million Naira (N80 million)

Fifth Position: Fifty Million Naira (N50 million)

According to Apex Bank, a private and public sector expert organization (BoE) will be formed for two-year regional and national entrepreneurship competitions to assess the entrepreneurial and technological innovations offered by Nigerian polytechnics and universities.

BoE will recommend high-potential projects. and the variable impact on the award of the grant.

Key highlights of the CBN N500k TIES Grant

All Projects funded under the scheme will be supervised by independent monitors set up jointly by the Central Bank of Nigeria, CBN and MFIs.

The scheme will run for the first time (no later than 31 December 2031) in 10 years, depending on the complexity of the project.

Repayment of interest and principal must be made on a monthly or quarterly basis according to a set cash flow cycle and according to an approved repayment schedule.

Eligibility

To participate or apply for the CBN TIES Grant, you must;

i. be a graduates of Nigeria Polytechnics and Universities.

ii. First-degree certificate (BSc/HND/ or it is equivalent);

iii. National Youth Service Certificate (NYSC) discharge or
exemption certificate;

iv. Certificate of Participation issued by polytechnics and universities evidencing entrepreneurship training; and

v. Not more than 7 years post-NYSC

How to Apply for CBN N500k TIES Grant

Interested and qualified applicants should;

 

 

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