Tertiary Institutions Entrepreneurship Scheme TIES Loan Application
Tertiary Institutions Entrepreneurship Scheme TIES Loan Application | Apply Tertiary Institutions Entrepreneurship Scheme TIES Loan
The CBN, as part of its policy measures to address rising youth unemployment and underemployment, introduces
the Tertiary Institutions Entrepreneurship Scheme (TIES) to create a paradigm shift among undergraduates and
graduates of Nigerian polytechnics and universities, from seeking white-collar jobs to entrepreneurship. The
Scheme aims to provide an innovative financing model that will boost job creation, enhance entrepreneurship
development, and support economic growth.
Tertiary Institutions Entrepreneurship Scheme TIES Loan Eligibility:
Graduates of any Nigerian university or polytechnic within the past seven (7) years with entrepreneurial interest.
Scope of activities:
- Agribusiness – production, processing, storage, and logistics;
- Information technology – application/software development, business process outsourcing, robotics, data management;
- Creative industry – entertainment, artwork, publishing, culinary/event management, fashion, photography, beauty/cosmetics; and
- Science and technology – medical innovation, robotics, ticketing systems, traffic systems, renewable energy, waste management.
Tertiary Institutions Entrepreneurship Scheme TIES Loan Application Requirements:
Apply online via the designated online portal (https://cbnties.com.ng) providing requisite information and documents, such as:
- First degree and NYSC discharge (or exemption certificate);
- Valid mobile phone number (linked to your NIN), BVN, NIN, TIN, and email address;
- Evidence of business registration (certified true copies of relevant CAC documents); and
- Corporate bank account number of business.
NOTE: Priority will be given to innovative entrepreneurial activities with high potentials for export, job creation and transformational impact. Female entrepreneurs are encouraged to apply.
Prohibition:
Trading activities shall not be eligible for financing under the Scheme.
Loan features:
- N5.0 million for individual/sole proprietorship/small company
projects; and - N25.0 million for partnerships/company projects
- Interest rate: 5% per annum (9% effective from March 1, 2022
or as may be prescribed by the CBN) - Tenor: Five (5) years
- Moratorium: 12 months
