The Central Bank of Nigeria Governor, Dr Godwin Emefiele, said CBN will offer loans to National Youth Service Corps members to start small and medium scale enterprises, which they will repay in seven years.
He 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.”
The statement added, “The Central Bank of Nigeria has expressed willingness to provide further opportunities of self-employment for corps members through its skill acquisition training. The CBN governor explained that upon completion of training, beneficiaries would get the cumulative value which represents a loan that would be repaid within seven years with a two-year moratorium.
“Emefiele assured the NYSC DG that the CBN National Microfinance Bank would also support interested corps members in business financing.
