Opportunity abound for members of the National Youth Service Corps (NYSC) with entrepreneurial skills as the Bank of Industry (BOI) launch the Graduate Entrepreneurship Fund (GEF).

The Graduate Entrepreneurship Fund (GEF) is a special N2 billion empowerment programme for serving members of the National Youth Service Corps (NYSC)which was launched on October 5, 2015. This GEF scheme which is a joint initiative of the Bank of Industry (BOI) and the 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 o 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.

Bank of Industry (BOI) has opened registration for the 3rd round of the N2billion Graduate Entrepreneurship Fund (GEF). BOI is calling for applications from members of the National Youth Service Corps (NYSC) for soft loans to support enterprises or potentially viable business ideas.

The GEF application portal opens on Wednesday 17th January and closes by midnight Wednesday 7tg of February 2018.

19th January, 2018