The Central Bank of Nigeria (CBN) has disbursed a total of N93 million to 310 young entrepreneurs in the country under the Youth Entrepreneurship Development Programme (YEDP) of the apex bank.
It will be recalled that CBN recently stated that it had set aside a total sum of N2.5 billion for members of the National Youth Service Corps (NYSC) with good business ideas.
In a ceremony which took place in Abuja on Thursday, CBN in collaboration with Heritage Bank and NYSC scheme disbursed the funds worth N3 million to the young entrepreneurs.
In his speech, the CBN Governor, Mr Godwin Emefiele, represented by the Deputy Governor (Corporate Services}, Alhaji Sulieman Barau, said that the programme was to ensure that the creative energies of the over 64 million Nigerian youths are harnessed to stimulate growth, address restiveness and promote economic development.
Read Also:
According to him, the programme was open to 18 to 35 years-old serving corps members, graduates or artisans. The Managing Director of the bank, Mr Ifie Sekibo, urged the CBN to expand the programme to accommodate more qualified youth entrepreneurs.
Reacting to the wonderful efforts, the NYSC Director-General, Brig. Gen. Sulaiman Kazaure, thanked the CBN for supporting efforts to empower the youths, adding that the launch of the YEDP would, among other things, create room for increasing the number of beneficiaries of the entrepreneurship training and venture prize competition to make a meaningful impact.
Kazaure, however, urged the beneficiaries of the programme to remain focused and ensure that the loans are paid back to enable corps members to benefit from the loan facility.
