₦airaland Forum

dexter1983:
i have written a 3-5 page detailed letter to the president on this which will require little fact check and editing and we can pay 1k or 500h each to raise about 200k to print it in punch. lets see how the abuja outing goes sha...i believe this will send a strong message to all concerned and wide coverage too. if we can get 200 boi applicants we can do this...

Nice one, i just hope Abuja yields positive result.

dexter1983:
How about an open letter to the president on this YES-P? I think if we can sponsor it on punch newspaper or one of the media houses..we will get desired result, that is if we are ready to sponsor it in any print media houses...it willtake a whole page in Punch newspaper..everyone that needs to hear will hear about it asap.

Let me see if the Abuja meeting will work or not.

On second thought, I'll try looking for it in Benin city, if I can't get it I'll come directly to you.

OK, thank you.

sooperrescue:
Does the amber light turn to red?

Where are you located? I am very interested in getting a nigerian used upgraded to 2012 autobiography. Do you sell or you are strictly into maintenance? My budget is N4m max.

Below are links to cars I have my eyes on.

https://www.nairaland.com/3216311/registered-range-rover-sport-upgrade

https://www.nairaland.com/3470534/2007-range-rover-upgraded-2013

https://www.nairaland.com/3489293/upgraded-range-rover-sport-6m

mobi5592:
Im in for the protest and i live in abuja... I have the email contact of cohort 2 participants for those in abuja, you might want to reach out to them too. Number counts.

Please join the group with this link and invite other participants resident in Abuja. https:///JVTgcwi2Gk0LNDL6MQfwEG

dexter1983:
Funny , bitter but what can we do Na....please apply for TEEf...I just submitted my application today..it cam out today..closes by march...it's a 5000 dolar grant for 1000 African entre preneur

Thanks, will do.

dexter1983:
2 offer letters[3.7M and 5M], myself and a friend but we couldn't get guarantors up till now...How many people since this programme commenced have actually completely met the guarantors criteria and money disbursed to them... i believe the vision of this programme is defeated if 50 percent cant make it..we have over 1200 from each batch, i really want to be sure if they are up to 10 across the whole nation that have fully provided a guarantor and cash disbursed after their offer from BOI since inception of YES.

THE Worst that can happen to anyone is seeing your offer letter after months of commitments and hardwork but you cant meet one of the major conditions[guarantor].

The letter of offer really made a lot of people excited, as if without guarantor BOI is going to give anybody money.

abayomi23:
i am interested in the protest.

Please invite others. On the 6th I'll already be in Abuja.

Hello everyone, I'll be in Abuja from January 6 to 13 for business but if there are enough participants then we will start holding meetings to plan our aso rock peaceful protest. I need at least 50 volunteers for the protest.

There is no going back, if online protest fails then they will listen to us in person.

edoman2016:
@mavoro, I read the article on thisday newspaper as well. It testifies that our northern candidates are facing the difficulties of stringent conditions by BOI. Federal Government need to aid us.

That's what we are fighting for.

The Verdict By Olusegun Adeniyi, Email: olusegun.adeniyi@thisdaylive.com
That most Nigerians are going through one of the most depressing periods of their lives is to put the situation mildly. Indeed, there are perhaps only few people in our country today not affected by the economy and the seeming hopelessness that pervades the land. What compounds the problem is that there is no sign in the horizon that the challenge will go away quickly given the choices being made (or perhaps more appropriately, not being made) by those elected to preside over our affairs.

To be honest, this is not the kind of piece I planned to write today. I had wanted to write something to lighten the mood as we enter the festive season. But I feel too depressed by the pervading air of despondency around me to pretend that all is well. Last week, I received the mail below from a young reader in Yobe State who pleaded with me to intervene on an issue involving the Bank of Industry. Since the writer, Musa Sule Damagun, made his case and that of his colleagues so brilliantly, I will just reproduce his mail before I make my comments.

While it is targeted at a specific issue, we can use the experience to look at the state of the national economy today and the growing frustration by our teeming army of young Nigerians: “Early this year, I applied for the federal government Youths Entrepreneurship Scheme (YES) programme under the Bank of industry along with 75,000 other Nigerians in which we submitted business ideas. At the end of the first process, about 3000 applicants were selected and I was one of them. The initial advertisement was that the FG was going to finance the best business ideas through a loan of N5 million to be disbursed by BOI. The conditions were that apart from being a Nigerian, one has to be ready to deposit his/her certificate with the BOI as collateral.

“So immediately after the selection, we were enrolled into an online business training conducted by a Kenyan firm, Africa Management Initiative. That intensive training required many of us in the northeast to relocate to bigger cities where we could access the internet since Boko Haram has vandalized communication facilities in many of our towns. During the online training, we took over 20 courses, wrote exams and submitted assignments for each. Then after the online training, we were again called to attend in-class training for five days in our state capitals. In all these, we had to take care of our transportation and accommodation expenses. The explanation initially was that after the training, we were just going to apply for the loan and deposit our certificates.

“However, the BOI staff at the training began to bring up different stringent conditions to accessing the loan. Every business idea you have, regardless of what you submitted
during your first application, must be about producing something e.g bread, milk, oil etc. You must bring a guarantor who must have a net worth equal to the amount you are asking for. You must have a business structure in which you are already producing something and attach account statement to show your cash flow. And BOI has to visit and assess this business structure before it approves your application. You have to take care of your pre-operating expenses like business registration, rent, logo design as well as registration with regulatory bodies like NAFDAC and SON.

“Finally, even after meeting all the above conditions, BOI will not give you the money in cash. They can only give you your working capital while they will buy the equipment you need. So you have to find suppliers of the kind of equipment you need and ask them to give you quotation and then you send to BOI.

“Given the following stringent conditions, it has become very difficult, if not impossible, for those of us from the North, and perhaps many people also from the south, to access the loan. I know for a fact that of the 24 of us who were successful from Yobe State, none has met the... Please visit the website for the full story.



http://www.thisdaylive.com/index.php/2016/12/22/christmas-in-a-time-of-recession/

http://www.thisdaylive.com/index.php/2016/12/22/christmas-in-a-time-of-recession/

Our story is on this day newspaper website. We are getting somewhere.

jpphilips:
Nigerians hardly approach the courts why?

Because it is a waste of time and money.

dyydxx:
ok. i can get a story written with the facts. do the editing and the social media escalation including the nairaland posting. i dont have the tools for the social media escalation. what's your email?

I am already managing a campaign on Twitter, Facebook, websites, newspapers and whatsapp groups. I had to appoint an admin to help with Northern Nigeria participants. If I add yours I won't be able to manage it as I would love to. Just search for your mates, there must be an outstanding person that can have it done.

CaptainRahl:
@ Mavoro, Jethrolite & all yes-p participants

You can take your protest to d next level by sending a copy of this letter to Sahara reporters, premium times, vanguard news, d twitter handle of d president, his media officer, Senate president, national assembly, ministry of Trade and Investment, ministry of finance, etc. You can't tell where your help may come from. Good luck!

Thanks for the suggestion, we are doing it already.

dyydxx:
Hi, how can we contact the editor of this too write an article on CBN YIEDP pilot programme with heritage bank. Similar scam too, that one is even worse as they have already done media presentation that they have paid out yet not ONE person has received anything. it's just disheartening. Beneficiaries are hoping that social media escalation like those of the falcons may help our case here.

I am but I can not write a story for you, the best I can do is edit a written document.

hotspec:
OP, Mavoro, should take this to tweeter, it will quickly get to those concerned and other interested stake holders for necessary action

Twitter campaign is already on.

ThatIgboBoy:
See confession

Mods,move this to the FP. If it is snake or mmm issue now u would have done so

HVACSpecialist:
It is also important to note that this loan is at 9% interest per annum and if BOI can be so deceitful at this initial stage, one need to scrutinize the terms and conditions very well. My question is, where is the support in all these?YE(SUFFERING)-P

Hidden charges may just skyrocket it to over 15%

AK6464:
These people keep raising the bar, I just hope they don't ask for the head of Moses next.

We hope so.

Sportize and dexter1983 please let others know about this thread

Lalasticlala is this not front page worthy?

Six months after the commencement of the YES programme by BOI, not even a single person has benefited from the time invested to this initially promising scheme even after getting to the final stage (Plan Approval). NOT ONE!

The #YES programme has successfully wasted the precious times of young entrepreneurs who initially thought #BOI #YES_P would be their stepping stone to a greater future. BOI lied to these entrepreneurs, cajoled them to sign up for the programme, hid key terms of the loan and allowed these helpless youths to commit their time, resources energy, intellect for 60 solid days in online training from AMI ( A good exposure I must say) and a week in class training for which some participants had to travel long distances, feed themselves and pay for hotel accommodation. Imagine the stress nursing mothers and their babies had to go through for 6 days and probably more for some.

My major problem with BOI is this: why must you lie and lure thousands of youth to sign for the YES programme when you know that there are other terms and conditions you never disclosed initially to these youths until they have reached the final stage before telling them? Why? Is it because you knew if you told them early enough, many would not join the scheme because you also know only 1-2% of these entrepreneurs can meet such stringent conditions. BOI an organization I hold in high esteem has turned itself into a petty corporate liar.

To our great youth, whether you have started or not, there is one condition(A major condition) BOI never told you during the training but will inform you only when your plan is approved and I doubt many will meet such condition in time, if at all.

YOU MUST PRODUCE 2 GUARANTORS WORTH 5M (subject to loan amount requested) EACH AND THEY MUST BE READY TO SWEAR A NOTARISED AFFIDAVIT OF NET WORTH AND DROP THE RECEIPT(S) OF THEIR ASSET.

In the beginning, BOI only told us our POST SECONDARY CERTIFICATE is our security not this. But this is what they will tell you after your plan is approved. I have been there hence LISTEN!

Unfortunately for me, I can't meet such stringent conditions of N5m net worth of each guarantor. I was ready to drop my certificate but this I can not do, after much investment into this programme. I know many are like me, BOI deceived us into this programme but what can we do? How many young entrepreneurs can meet these conditions?

I strongly want to call on the Federal Government and all parties involved to ask BOI to revert to the original conditions with which this programme was advertised. We are sincere and excellent entrepreneurs to have made it this far and we are ready to contribute their quota in developing our economy that currently lies in a cesspool, but we need support, not one with impossible conditions as BOI YES programme is asking for.

To BOI, I thank you for time wasted, I strongly advise henceforth that you come out plain with the true conditions from day one and not cajol Nigerian youths into your failed YES programme filled with half truths. Have you asked yourself why not one person across the nation has benefited from this YES after 6 months? I will advise you maintain the certificate as security because it will be easily met by sincere youths than the 5m each (subject to loan sum requested), 2 guarantors, if truely the goal of your YES programme is to assist young entrepreneurs, contribute to the economy and take people out of poverty. Right now, You are not different from commercial banks, why do I need to waste my time with you if I have such guarantors in the first place. Only 1-2% out of 1200 from every batch will finally make that loan conditions defeating your aim of setting up such programme. So, please, think again on your conditions as many youth are already frustrated with your emergency post approval conditions.

To our youths, I must commend your courage, we have really endured this country despite the frustration everyday and everywhere. My encouragement to you all is to keep up fighting and look out for better deals and grants. For those who will fully meet the requirements, I congratulate you in advance and enjoin you to do your best to contribute your quota to our economy as required by the programme. We must not give up as entrepreneurs, if YES does not work out, there are other better programmes out there. For all your time and resources spent, take consolation in the AMI and in-class training which is truely rich and loaded. You must not give up in yourselves and in Nigeria, no matter the outcome of your YES application.

I have written all these to report what is going on that many are not yet privy to. This will help you prepare ahead and gather enough strength to carry on. This is also aimed at BOI to see the extent of damage that will be done to many of these great young entrepreneurs because of their initial lies.

BOI YES programme is actually a waste of my precious time and resources because I have invested my all into it with no funding to show after 6 months in the programme.

Shukuriya.

Adisa
Edited by Origbo Kay.

Lalasticlala

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