The National Youth Service Corps ( NYSC ) Foundation has declared about 75 corps members wanted over a loan running into N30million.
The corps members according to the foundation took between N300,000 and N400,000 loans to start small businesses, but refused to pay after about four years.
The NYSC Foundation Chief Executive Officer, Bako Ventim, while speaking with newsmen on Monday during the opening of Skills’ Acquisition and Entrepreneurship Development workshop at the NYSC Orientation Camp in Kubwa, Abuja said the defaulting Corps members have decided to abandon their certificates with the foundation for four years after passing out.
The certificates were used as collateral to secure the loan from the foundation.
The foundation was in the camp to donate 10 sewing machines to the camp for training.
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.”

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