Regulatory Alerts2021-10-20 | CCD/GUI/01/20-10-2021Guidelines for the Implementation of Tertiary Institutions Entrepreneurship Scheme (TIES)
The Central Bank of Nigeria has developed the Tertiary Institutions Entrepreneurship Scheme (TIES) to address rising youth unemployment and underemployment. The scheme aims to shift the focus of undergraduates and graduates from seeking white-collar jobs to developing an entrepreneurial culture for economic growth and job creation. TIES will provide funding for innovative start-ups and existing businesses owned by graduates of Nigerian polytechnics and universities in areas such as agribusiness, information technology, creative industries, and science and technology. The scheme will be implemented through term loans, equity investments, and developmental grants, with a focus on promoting gender equality and supporting sustainable job creation. Participating institutions and beneficiaries must adhere to strict guidelines and requirements, with independent monitors engaged for periodic verification and project monitoring.