Her­itage Bank CEO tasks CBN youth fund ben­e­fi­cia­ries

Daily Trust - - BUSINESS - By Chris Agabi

The Man­ag­ing Di­rec­tor/Chief Ex­ec­u­tive Of­fi­cer of Her­itage Bank Plc, Mr. Ifie Sek­ibo has chal­lenged 1,500 ben­e­fi­cia­ries in the first phase of the Cen­tral Bank of Nige­ria’s (CBN) N2.5 bil­lion Youth In­no­va­tive En­trepreneur­ship De­vel­op­ment Pro­gramme (YIEDP) to adopt strong pos­i­tive char­ac­ter to suc­ceed.

Mr. Sek­ibo who ad­dressed the ben­e­fi­cia­ries at the flag-off of the training pro­gramme for the ben­e­fi­cia­ries held at the Na­tional Youth Ser­vice Corps (NYSC) camp in Kubwa also said Her­itage Bank and the CBN has made a com­mit­ment to fur­ther sup­port young en­trepreneurs who show com­mit­ment to suc­ceed.

The YIEDP is a CBN ini­tia­tive in part­ner­ship with Her­itage Bank and the (NYSC).

Mr. Sek­ibo said the youths stand a chance of fur­ther sup­port if they lead suc­cess­ful busi­nesses and re­pay the loans which will be on sin­gle digit in­ter­est rate.

De­pend­ing on your busi­ness plan and pro­posal, a ben­e­fi­ciary can get a max­i­mum of N3 mil­lion loan from Her­itage Bank, pow­ered by the CBN through the CBN Mi­cro, Small and Medium En­ter­prise De­vel­op­ment Fund Pro­gramme.

YIEDP tar­gets youths within the age of 18-35yrs who af­ter been pre-qual­i­fied, and will un­dergo en­tre­pre­neur­ial training and sub­mit busi­ness pro­pos­als and loan application forms for ap­praisals. Ap­proved ap­pli­ca­tions will be sent to the CBN through the lend­ing in­sti­tu­tion (Her­itage Bank) for fund­ing.

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