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TIES Summary1

The Central Bank of Nigeria introduces the Tertiary Institutions Entrepreneurship Scheme (TIES) to address rising youth unemployment by shifting graduates' focus from seeking jobs to entrepreneurship. TIES provides term loans up to N25 million for 5 years at 5% interest and equity investments in startups and businesses. It also awards grants from N50-150 million for top 5 polytechnics and universities in a biennial entrepreneurship competition to promote innovations. The scheme aims to boost job creation, entrepreneurship, and economic growth among Nigerian university and polytechnic graduates.

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52 views1 page

TIES Summary1

The Central Bank of Nigeria introduces the Tertiary Institutions Entrepreneurship Scheme (TIES) to address rising youth unemployment by shifting graduates' focus from seeking jobs to entrepreneurship. TIES provides term loans up to N25 million for 5 years at 5% interest and equity investments in startups and businesses. It also awards grants from N50-150 million for top 5 polytechnics and universities in a biennial entrepreneurship competition to promote innovations. The scheme aims to boost job creation, entrepreneurship, and economic growth among Nigerian university and polytechnic graduates.

Uploaded by

Ayanwuyi
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We take content rights seriously. If you suspect this is your content, claim it here.
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Central Bank of Nigeria

www.cbn.gov.ng

Tertiary Institutions Entrepreneurship Scheme (TIES)


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.
Features: 2. Equity Investment

1. Term Loan Eligibility:


Start-ups, existing businesses expanding or ailing businesses.
Eligibility:
Scope of activities:
Graduates of any Nigerian university or polytechnic within the past
seven (7) years with entrepreneurial interest. The equity investments shall be in enterprises operating within the eligible
scope of activities. Applications for participation under the window shall be
Scope of activities:
through submission of application on https://cbnties.com.ng
 Agribusiness – production, processing, storage, and logistics;
Investment Limit:
 Information technology – application/software development, Subject to the limit prescribed in the AgSMEIS Guidelines.
business process outsourcing, robotics, data management;
Investment Period:
 Creative industry – entertainment, artwork, publishing, i. Investment made shall be for a maximum period of ten (10) years (not
culinary/event management, fashion, photography, exceeding December 31, 2031).
beauty/cosmetics; and
ii. There shall be a 3-year lock-in period before exit in order to
 Science and technology – medical innovation, robotics, encourage value creation and boost managerial capacity of business.
ticketing systems, traffic systems, renewable energy, waste NOTE: The equity investment shall be implemented under the AgSMEIS
management. Equity window.
Requirements:
3. Developmental (Grant) Component
Apply online via the designated online portal (https://cbnties.com.ng)
providing requisite information and documents, such as: Polytechnics and universities in Nigeria shall compete in the national
biennial entrepreneurship competition to raise awareness and visibility of
 First degree and NYSC discharge (or exemption entrepreneurial or technological innovations among undergraduates.
certificate); Applications for participation under the Development window shall be
 Valid mobile phone number (linked to your NIN), through submission of application on https://cbnties.com.ng
BVN, NIN, TIN, and email address;
Body of Experts (BoE) shall be constituted from the private and public
 Evidence of business registration (certified true sector to evaluate entrepreneurial and technological innovations
copies of relevant CAC documents); and submitted by Nigerian polytechnics and universities.
 Corporate bank account number of business.
Top five (5) polytechnics and universities at the national level shall be
NOTE: Priority will be given to innovative entrepreneurial activities with awarded the grant prize on the recommendation of the Body of Experts
high potentials for export, job creation and transformational impact. (BoE).
Female entrepreneurs are encouraged to apply. Grant awards:
Prohibition:  First place – N150.0 million;
Trading activities shall not be eligible for financing under the Scheme.  Second place – N120.0 million;
 Third place – N100.0 million;
Loan features:
 Fourth place – N80.0 million; and
 N5.0 million for individual/sole proprietorship/small company  Fifth place – N50.0 million.
projects; and The grant shall be utilised specifically for the development of the award-
winning innovations and to support research and development of high-
 N25.0 million for partnerships/company projects impact projects within or around the institution’s community.
 Interest rate: 5% per annum (9% effective from March 1, 2022 Scope of activities:
or as may be prescribed by the CBN)
Agribusiness, information technology, creative industry and science &
 Tenor: Five (5) years technology.
 Moratorium: 12 months
NOTE: The Equity Investment and Developmental (Grant) Components would
 commence from April 2022..

For further information on the guidelines and other enquiries, please visit www.cbn.gov.ng

Philip Yila Yusuf


Director, Development Finance Department

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