Lalasticlala

The National Youth Service Corps (NYSC) Foundation is now on the trail of 75 corps members who took between N300,000 and N400,000 loans to start small businesses but refused to pay after four years.

Herald Nigeria learnt that the defaulting corps members used their certificates as collateral during their service year, as that was the only way to access the loans.

But the corps members had abandoned their certificates with the foundation for almost four years.

The NYSC Foundation Chief Executive Officer, Bako Ventim, disclosed this on Monday during the opening of Skills’ Acquisition and Entrepreneurship Development workshop at the NYSC Orientation Camp in Kubwa, Abuja.

The director said, “We have been providing loans to corps members and our interest rate is one digit. There is no collateral except the NYSC certificate and two guarantors. We make the conditions very flexible so that the corps members can benefit from these loans.

“We have a challenge where corps members have refused to pay back the loans. We have over 100 corps members who took the loans but some of them have not paid back and we still have their NYSC certificates with us. They have not come to claim these certificates for a number of years.

“We give as much as between N300,000 and N400,000 depending on the business proposals. From the records, we have over 75 corps members that have defaulted and we are pursuing them.”

https://www.herald.ng/nysc-goes-after-75-ex-corps-members-for-failing-to-repay-business-loans/

Stupid corper

wey work?

Worthless NYSC certificate..

Repay which loan??
U gave them loan without surviving skills or enabling environment for their businesses to strive..

I for dey Canada now if say my hand managed to touch nysc loan

These are the lazy Nigerian youth.

When doing business in the country is hard you can't blame them



Get some good quality suit for yourself? Check my signature

Very Funny

Nigerians are like that...they deliberately don't like paying back loans

Even scam they scam people nowadays!

Lol. They must have considered repayment of the loan to be of more value than the certificate.

Thats like someone salary for a month lol

The economy is really bad. Their businesses might have failed. It takes the grace of God to keep businesses afloat this period

Wish they borrowed 300m

Country hard DG. Pls give them more time. Running a business in an unstable economy like ours is quite challenging, not to talk of a small scale business.

Interesting.
Meanwhile .Pls enlighten me on the program Nteach and N agro

some ppl dnt really knw how to service their loans what stop una atleast serving 1k everyday or even 5h everyday in 2years time u will have the money to pay back if you chose the later going by this norm they will syop giving out loans to future corp members

Hahaha

They should repay the loans they took.

Mr DG , please give them more time... The economy of the country is really hard especially in Jonathan / Buharis regime. So that one will not come and drink sniper on top of NYSC' s matter.. Sniper is real..

Let's be honest to ourselves, what viable business can 400,000naira start in Nigeria in this period and time that inflation has destroyed the Nigerian currency

We are talking about $1,100 here, is it even enough to rent a shop or office space at a viable location in any of the top cities in Nigeria

Then think of buying equipments, tools or goods.

Give them 2million loan and above not meagre 400,000naira you can't dash your concubines for lunch

TrollKiller:
Stupid corper

how is he stupid,,d cert is useless education is overrated in this country,we need to change our mentality,, u struggle tru sch ,pay exorbitant sch fees then after 4 -5 years u are given an invoice inside d sch auditorium,,spits