CBN Launches TIES, gifts Six Undergraduates N30 Million

Godwin Emefiele, Governor of the central bank of nigeria, has stated that the Tertiary Institutions (TIES) Entrepreneurship Scheme is primary initiated to create an economic model which will shift the trend for white- collar jobs towards entrepreneurship.

Emefiele further revealed that the CBN will be partnering with polytechnics and universities across the country.

According to him, the idea is to make Nigerian graduates job creators rather than job seekers after graduation, as is obtained in some other parts of the world.

“What we are doing today is something that is taken for granted in other climes. At the CBN, we are concerned about the level of unemployment within the youth population, and we are taking steps to address it,’’ he said.

He urged the beneficiaries to apply for the loans well in their businesses to engender growth and create more jobs.

Mr Emefiele elucidated that academic certificates of beneficiaries were accepted as collateral item and would be returned to them when the loans are offset.

The beneficiaries are Aisha Sulaiman, a graduate of Bayero University, Kano and Chukwudi Ukpabi of Federal Polytechnic, Ebonyi. Others are Zainab Muhammed, a graduate of Federal Polytechnic, Bida, Nura Abdullahi of Kano State Polytechnic, Simeon Ojopane of Kogi State University and Adebowale Olaoye, an accounting graduate of the University of Lagos.

The CBN governor also inaugurated an 11-man body of experts, chaired by Abubakar Suleman, Sterling Bank’s managing director, to steer the scheme.