The Central Bank of Nigeria (CBN) will soon commence a new loan scheme specifically targeting National Youth Service Corps members.
The new scheme is to enable beneficiaries to be able to start small- and medium-sized businesses with a view to reducing the increasing rate of unemployment in the country.
This was disclosed on Twitter by Bashir Ahmad, the Personal Assistant to President Buhari on New Media on his verified Twitter handle @BashirAhmaad.
According to him, the CBN Governor, Godwin Emefiele, said that all arrangements had been concluded for the roll out of the loan facility.
The loan has a tenor of 7 years thus allowing for ample time for the NYSC members to be able to pay back.
No further details were provided by Bashir Ahmad.
See his tweet below.
The CBN Governor, Godwin Emefiele discloses that the Bank has completed arrangements to offer loans to NYSC members to commence small and medium scale enterprises. The loan which is conceived out of the need to reduce unemployment rate in the country will be repaid in 7 years.
— Bashir Ahmad (@BashirAhmaad) June 21, 2019