In view of our meeting with the MD of the bank of industry at the bank's head office, Marina Lagos https://www.nairaland.com/3667582/yes-p-nationwide-protest-boi-formally#54341511


*AGREEMENT REACHED BETWEEN BOI AND YES P. ON THE 6TH MARCH , 2017*
*AT BOI* *HEADQUARTERS , MARINA*
*LAGOS NIGERIA*


*1) OND Certificate holders;*
*YESP* *DELEGATES, insisted that OND holders can't be cut off, yes we saw reasons in BOI trying to restrict OND holders, but for the sake of the genuine ones, and reasons being that, it was advertised right from the beginning of the program they should atleast put other measures to check, people with higher certificate but choose to use OND cert. Because its not useful to them again,*

*Therefore we agreed on the following from BOI*

*Those with OND certificate not older than two years will be accepted,*

*certificate above two years will need to show evidence of business success*
*( if running a business)*
*paid employment reference*
*( if currently in paid employment)*


*2.) STATEMENTS OF RESULTS*
*The delegates of YESP agreed on the following:*

*Statement of results are only accepted where participants have just recently graduated.*
*BOI will do an investigation to ensure that participants actually graduated from the said university by writing to the school for confirmation, if its confirmed, it will be accepted*


*3.NON UNIFORMITY OF LOAN TERMS*

*BOI said a Board meeting will be held with all relationship managers to foster uniformity. That all YESP loan application must be the same across all states.*



*4.) GUARANTORS REVIEW;*

*Base on our challenges , BOI said , they critically reviewing it, so as to implement what's has worked for GEF and other scheme of the bank ,BUT this should not stop your application, they need little time on it, even though its not removed, it will be reviewed to accommodate more YESP participants, as that is the major causes of low application, that this , shouldn't stop ur application, go ahead and apply, that this will be a pre disbursement condition if its latter reviewed.*


*5.) NETWORTH REMOVAL*


*BOI agreed on not using a notorise statement, but in place of that a court affidavit, Having stated all your properties, just to attest to it that its true.*


*6.) 24th MARCH DEADLINE*

*YESP DELEGATES, insisted that deadline will cut off many participants, so therefore, the deadline be extended*

*BOI , insisted they want to be as fast as they can, in disbursement of the loan, hence the deadline, BUT, in order to consider our request, ONLY viability of business will be considered,I.e just submit ur business plan, EVEN though u have not gotten all all ur, so long u have a business name and idea, submit, Avery other requirements u have not meet, will becomes.... PRE DISBURSEMENT CONDITIONS, i. e u must get those stuff ready b4 they hand u the loan, YESP DELEGATES AGREED.*

*7.) IMPORTATION OF EQUIPMENT*
*YESP DELEGATES,* *gave a personal experience of BOI not accepting foreign working invoice:*

*The MD got upset, demand for an explanation to that, from SMEs Director, and was particular concern about who passed such information to YESP participants,*

*SMEs director explained, that, it was just a caution, to forestall the stress of importation, as YESP , you may not be able to carry the weight importation carries, and you can be defrauded, and if that happened, u may have issues paying back, what didn't actually get to you. As* *entrepreneurs we may not be able to foot the bill of clearing the equipment, the longer it remains at the port the more demurrage it acquires, at the end of the day the whole loan may be I'll spent on one machine, not to add maintenance and purchase of spare parts from abroad supplier*
*But thats not to say its not permissible*





Cc: lalasticlala, Dominique, puskin, FOD, naijacutee

Bravo.........Well done.
Let's hope they stick to the agreement cos govt have some funny ways of their own.

This Scheme is getting even more better with these review

puskin:
Bravo.........Well done.
Let's hope they stick to the agreement cos govt have some funny ways of their own.

Thanks boss!
It wouldn't be a bad idea if this post is on front so that other yes-p participants who have given up and abandoned their application will get back on their feet.
Even boss lalasticlala, Dominique, FOD, naijacutee will agree with me on this.

Alumona1:
This Scheme is getting even more better with these review

you can say that again bro

YESpParticipant:
you can say that again bro

Please, what is YESp?

Johncuppa:

Please, what is YESp?

Youth Entreprenuership Support Programme

The resilience and doggedness of those that have been leading this agitation is highly commendable.

Good job guys!!!

YESpParticipant:
Youth Entreprenuership Support Programme

Thanks

God bless you guys. may your effort not be in vein. but i want some clearification on the second point in that agreement, i.e. 2.) STATEMENTS OF RESULTS*
*The delegates of YESP agreed on the following:*

*Statement of results are only accepted where participants have just recently graduated.*
*BOI will do an investigation to ensure that participants actually graduated from the said university by writing to the school for confirmation, if its confirmed, it will be accepted*.
what do they mean just recently graduated, is there a number of years attached to that.
God bless you for your reply.