Bank of Industry Graduate Entrepreneurship Fund (GEF) Programme 2018 for NYSC Members

Bank of Industry Graduate Entrepreneurship Fund (GEF) Programme 2018 for NYSC Members

The Graduate Entrepreneurship Fund (GEF) programme is a special scheme to encourage and promote entrepreneurship among serving members of the National Youth Service Corps (NYSC). The scheme provides loans of up to N2.0 million at 0% interest rate to support enterprises and potentially viable business ideas.

This novel scheme, which is a joint initiative of the Bank of Industry (BOI) and the National Youth Service Corps (NYSC), has the following objectives:

  • Encourage graduates of tertiary institutions currently undergoing the compulsory one-year NYSC programme, to venture into business and become employers of labour rather than job seekers.
  • Address the entrepreneurship capacity gap of the NYSC members who are expected to produce bankable business plans after the three-day capacity building programme.
  • Deepen financial inclusion by de-risking the NYSC members and making them eligible for concessional loans ranging between N500,000 and N2 million to be provided by BOI.
  • Ensure sustainability of the businesses of the eventual loan beneficiaries through effective monitoring by the NYSC Directorate and BOI.

The GEF programme comprises the following:

  1. Online Business Plan Competition to select the most promising real sector business ideas. Selection/screening of participants shall be done via the GEF online application portal: boi.ng/gef
  2. Three days intensive entrepreneurship capacity building programme.
  3. Loan amounts of up to N2.0 million to be provided to each successful participant with bankable business plans within BOI’s 35 SME clusters (list at BOI’s website: boi.ng), at an interest rate of 9% per annum, with tenors ranging from 3-5 years inclusive of 6 – 12 months moratorium period.

The Capacity Building Programme is scheduled to hold simultaneously at the following venues:

S/N Geo-Political Zone NYSC Camp Location
1 South-South Former Martins TTC, Issele-Uku, Aniocha North L.G.A, Delta State.
2 South-East Umunna, Bende L.G.A, Abia State.
3 South-West Aisu College Hospital Road, Ede North L.G.A, Ede, Osun State.
4 North-East Government College, Jalingo, Jalingo L.G.A, Taraba State.
5 North-Central Mangu, Mangu L.G.A, Plateau State.
6 North-West Mani Road, Katsina, Katsina State.
7 Lagos Iyana Ipaja, Agege, Lagos State.

 

For More Information:

Visit the Official Webpage of the Graduate Entrepreneurship Fund (GEF) Programme 2018

CSR-in-Action

    Start Typing
    Privacy Preferences

    When you visit our website, it may store information through your browser from specific services, usually in the form of cookies. Here you can change your Privacy preferences. It is worth noting that blocking some types of cookies may impact your experience on our website and the services we are able to offer.

    For performance and security reasons we use Cloudflare
    required
    Click to enable/disable Google Analytics tracking code.
    Click to enable/disable Google Fonts.
    Click to enable/disable Google Maps.
    Click to enable/disable video embeds.
    Our website uses cookies, mainly from 3rd party services. Define your Privacy Preferences and/or agree to our use of cookies.