The Graduate Entrepreneurship Fund (GEF) is a special N2 billion empowerment programme for serving members of the National Youth Service Corps (NYSC) which was launched on October 5, 2015. This novel scheme, which is a joint initiative of the Bank of Industry (BOI) and the National Youth Service Corps (NYSC), has the following objectives:

Encourage graduates of tertiary institutions currently undergoing the compulsory one-year NYSC programme, to venture into business and become employers of labour rather than job seekers.
• Address the entrepreneurship capacity gap of The NYSC members who are
expected to produce bankable business plans after the three-day capacity building programme.
• Deepen financial inclusion by de-risking the NYSC members and making them eligible for concessional loans ranging between N500,000 and N2 million to be provided by BOl.
• Ensure sustainability of the businesses of the eventual loan beneficiaries through effective monitoring by the NYSC Directorate and BOl.

The GEF programme comprises the following:
a. Online Business Plan Competition to select the most promising real sector
business ideas. Selection/screening of participants shall be done via the GEF online application portal: www.boinigeria.corn
b. Three days intensive entrepreneurship capacity building programme.
c. Loan amount of up to N2 million to be provided to each successful participant with bankable business plans within BOl’s 35 SME clusters
(list at BOl’s websitawww.boi.ng), at an interest rate of 9% per annum, with
tenors ranging from 3 —5 years inclusive of 6 —12 months moratorium period.

The Capacity Building Programme is scheduled to hold simultaneously at the following venues:
S/N Geo-Political Zone/State NYSC Camp Location
1 South-South Former Macfris TTC, Issele-Uku, Aniocha North LG.A, Delta Slate.
2 South-East Umunna, Bende L.G.A, Abia State.
3 South-West Aisu College Hospital Road, Ede, Osun State.
4 North – East Government College, Jalingo
5 North-Central Mangu, Plateau State
6 North-West Mani Road, Kastina, Kastina State.
7 Lagos Iyana Ipaja, Agege, Lagos State

The Entrepreneurship Capacity Building Programme will take place at the above stated centres between 18th — 20th November) 2015. Interested serving NYSO members are hereby request to apply online immediately at www.boinigeria.com

Source - http://newsnownigeria.com.ng/nysc-graduate-entrepreneurship-fund-gef-for-corps-members-see-how-to-apply/