CBN churns out 162 Nsukka entrepreneurs through YIEDP Scheme

CBN logo


By Chioma Obinagwam


No fewer than 162 graduates have benefited from the Central Bank of Nigeria (CBN) sponsored Youth Innovative Entrepreneurship Development Programme (YIEDP), Sterling Bank revealed in a statement.

YIEDP was initiated to harness the latent entrepreneurial spirit of Nigeria’s teeming youth by providing timely and affordable loans to implement their business ideas.

However, the statement showed that, it is open to youths aged 18 to 35 who are serving youth corps members. Graduates with more than five years post National Youth Service Corp (NYSC) experience are not eligible to participate.

Reacting, the aspiring entrepreneurs from Nsukka and its environment that benefited from the capacity building programme of the South East Entrepreneurship Development Centre (SEEDC) extolled the CBN and Sterling Bank Plc. for putting in place the YIEDP.

Of the 162 graduates from the Nsukka axis that training the SEEDC, 90 qualified to access loans in sectors that include agriculture, food processing and preservation, arts and craft, Information and Communication Technology (ICT), energy, education and photography.

Lauding the Central Bank for setting aside funds for the programme, Ikechukwu Ifeanyi, a SEEDC trained entrepreneur and agripreneur, who spoke on behalf of beneficiaries, disclosed that it was a life changing opportunity for all participants as it will help unleash their true business potential.

CBN Governor, Godwin Emefiele

According to Ifeanyi, the journey started with Senator Utazi’s intermediation and effort which saw a lot of graduates enrolled at the South East Entrepreneurship Development Centre.

“Without the training at SEEDC, getting a loan and going into business would have been disastrous for many of the participants. We had great facilitators that equipped us with the skills required to run a better business. There are so many things we do not know about customer care, corporate governance, and financial management before the capacity building programme,” he said.

“I have a solid grasp of the basics of running a proper business which will guide my agriculture venture. I have applied online and sent in my business plan as part of consideration for the loan to be disbursed by the Central Bank through Sterling Bank,” he added.

The 162 graduates were trained at the South East Entrepreneurship Development Centre courtesy of Chuka Utazi, the Senator representing Enugu North Senatorial Zone.



Please follow and like us:


Leave a Reply

Your email address will not be published. Required fields are marked *