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The scheme is a special fund to encourage young Nigerian graduates of tertiary institutions who are currently serving under the NYSC programme to start up new businesses as well as expansion of existing ones.
The GEF Programme comprises the following:
- Capacity building Process through the following:
- Selection/screening of the NYSC members that will participate in the capacity building process through a questionnaire to be administered on BOI online portal.
- 4 days of intensive training on generating a business idea (value proposition), how to run a profitable business (Business Model) and basic financial record keeping. This will be done in collaboration with the NYSC Directorate and shall be facilitated by BOI’s partner Entrepreneurship Development Centers/Institutions in the 36 states of the federation, including the Federal Capital Territory (FCT).
- Financial support for those with bankable business ideas within BOI’s SME clusters.
|SEE ALSO: Jubilee Fellows Programme (JFP) for Nigerians/ How to Apply|
FG to Lift 100M Out of Poverty via Trust Fund. National Youth Service Corps Trust Fund Application Form for Nigerians Youth-Serving Corp Members across the Federation – apply online here. Are you among Nigerians Youth-Serving Corp Members or those aspiring for Service? Have you heard about NYSC Trust Fund? Opportunity is here for you to grab this Loan/Grant. Get started below:
NYSC Trust Fund will help in actualizing President Buhari’s vision of lifting 100 million Nigerians out of unemployment before the next 10 years.
As Stated by NYSC Director on Special Duties, Alhaji Musa Abdullahi said this during a session with newsmen. He said that no fewer than 500,000 Corps members had trained and empowered under its Skill Acquisition and Entrepreneurship Development (SAED).
Abdullahi said the NYSC Director-General, Brig. Gen. Ibrahim Shuaibu, had proposed the establishment of the NYSC Trust Fund to serve as a strategy to help actualise Buhari’s vision of lifting 100 million out of poverty.
The NYSC Director said the trust fund will also provide resources for the training and empowerment of corps members, especially on skill acquisition and entrepreneurship development when established, noting that the strategy will end poverty as the president has envisaged to lift 100 million out of poverty by 2030.
Also, he revealed that successful partnership initiatives with funding institutions such as the Bank of Industry (BOI) and the CBN would provide start-up capital for Corps entrepreneurs.
NYSC Trust Fund
The NYSC Graduate and Entrepreneurship Trust Fund Scheme is a brainchild of the Bank of Industry (BOI) in alliance with the National Youth Service Corps to offer business loans to serving Corps members.
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How NYSC Trust Fund Works
If you want to apply and be selected for this loan, you must have partaken in the:
- Screening practice
- 4-day intensive training of GEF
- Submission of a feasible business plan within BOI’s policy. You can check on www.boi.ng.
|SEE ALSO: Federal Government Graduate Internship Programme 2021 / Apply|
What are the required documents for the documentation?
- Workable business plan
- Valid ID card
- Supporting NYSC documents
What are the collaterals for this loan?
- NYSC certificate: undertaking will be signed by the NYSC Directorate to not release the certificate until the loan is settled.
- One external guarantor who must be of: Level 7 civil servant, Banker (officer), Medical Doctor, Lawyer, Clergyman, Accountant, Elected public servant, Senior staff of reputable companies.
How to Apply for NYSC Trust Fund
Interested applicants should Register via www.boi.ng/apply/register
The details about the repayment plan will be made available to you upon the approval of your loan application.
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