The Central Bank of Nigeria, CBN and NIRSAL Microfinance Bank, a banking arm of the CBN, have engaged Young Entrepreneurs of Nigeria (YEN), the umbrella body for Nigerian young entrepreneurs as a CBN/NIRSAL Entrepreneurship Development Institute/Partner.
The engagement and partnership are specifically in the areas of entrepreneurship development and MSMEs entrepreneurial training in Nigeria for entrepreneurs and MSMEs seeking access to credit via the CBN popular Agric-Business, Small and Medium Enterprises Investment Scheme (AGSMEIS).
According to the letter of engagement/partnership, duly signed by Abubakar Abdullahi Kure, Managing Director and Darlington Lawson, Executive Director Banking of NIRSAL Microfinance Bank, sighted by journalists, Young Entrepreneurs of Nigeria (YEN) is to train and certify various candidates, who intend to apply for the AGSMEIS loan as well as upload application forms of applicants into AGSMEIS portal among other operations.
According to Chris Kohol, National President, YEN, the CBN appointed Young Entrepreneurs of Nigeria (YEN) as an Entrepreneurship Development Institute in November, 2020, to represent the interest of Nigerian entrepreneurs on the scheme and due to the organization’s track records in entrepreneurship development in Nigeria.
Chris Kohol, while thanking CBN/NIRSAL for finding YEN worthy of the engagement and partnership pledged the organization’s excellent service delivery for MSMEs and entrepreneurs seeking CBN EDI services across Nigeria.
The CBN collateral free loan has 7 years repayment plan, 9% interest rate, 1 year moratorium among other juicy offers.
Mr. Kohol further encouraged all entrepreneurs and MSMEs across the country to make good use of the opportunity by applying for the CBN/NIRSAL AGSMEIS intervention loan, through the Young Entrepreneurs of Nigeria (YEN), in which they can access up to 10 Million Naira to establish or scale their businesses, while generating employment for our teeming youths and contributing to the economic development of Nigeria.
The YEN President, Mr. Kohol, reiterated that the organization is prepared and set to train and prepare over 100,000 entrepreneurs and MSMEs for CBN AGSMEIS loan in 2021 across Nigeria.
Young Entrepreneurs of Nigeria, (YEN), is the umbrella body and voice for Nigeria young entrepreneurs, championing youth entrepreneurship development in Nigeria through access to mentorship, entrepreneurship training, technical support, networking, funding and access to market while driving trade, business innovation in the long run for National productivity and socio-economic development of Nigeria.