EducationNigeria

325 NYSC members benefit from BoI’s N540 million loan

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The Director-General, National Youth Service Corps (NYSC), Brig-Gen Shuaibu Ibrahim, on Friday said the Bank of Industry (BoI) has given loan of N540 million to 325 corps members who are entrepreneurs under the scheme’s Graduate Empowerment Fund.

He also said the Central Bank of Nigeria (CBN) in partnership with Heritage Bank has disbursed another N15million to seven corps members under the NYSC/CBN Youth Entrepreneurship Development Programme (YEDP).

The DG said 1,132,409 corps members have so far been equipped with Skills Acquisition and Entrepreneurship Development (SAED) package of the scheme.

He spoke at a media parley with editors and reporters in Abuja.

He said: “The SAED was established in 2012 with the mandate to drive the scheme’s collaboration with various stakeholders toward addressing the problem of graduate youth unemployment.

“The scheme is collaborating with national and international organisations toward providing material, technical and financial support for the programme.

“So far, 1,132,409 corps members have been sensitised and over 70,000 have undergone various forms of skills training.

“The BoI-NYSC Graduate Empowerment Fund, which is a product of our partnership with the Bank of Industry, is yielding encouraging results with the sum of over N540 million so far disbursed as loans to 325 corps entrepreneurs.

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