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The Bank of Industry Limited (BOI) is Nigeria’s oldest, largest and most successful development financing institution. It was reconstructed in 2001 out of the Nigerian Industrial Development Bank (NIDB) Limited, which was incorporated in 1964. The bank took off in 1964 with an authorized share capital of 2 million (GBP). Bank of Industry Fresh Graduate Entrepreneurship Fund 2018 as follows;

Title: 3rd Round of the BOI N2 Billion Graduate Entrepreneurship Fund (GEF)

Background

The Graduate Entrepreneurship Fund (GEF) scheme is the Bank’s first youth programme which was launched in October, 2015 and is implemented by the Bank in partnership with the National Youth Service Corps (NYSC) Directorate. This initiative is specifically targeted at youths undergoing the mandatory one (1) year national service programme.

The aim is to change the job-seeking mindset of Nigerian youths to entrepreneurship and self-reliance by encouraging them to develop skills for self-employment and to contribute to the accelerated growth of the national economy.

Hence the introduction of the Graduate Entrepreneurship Fund programme to address the worrisome phenomenon of unemployment and restiveness.

Objectives

The Graduate Entrepreneurship Fund (GEF) is a product with the following objectives:

To 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.
To address the entrepreneurship capacity gap of the young NYSC members.
To deepen financial inclusion by de-risking the NYSC members and making them eligible for small business loans to be provided by BOI.
Ensure sustainability of the business of the young graduates through effective monitoring of the corps members by the NYSC Directorate and BOI.

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Source: http://www.ngjobseekers.com/2018/01/17/bank-of-industry-fresh-graduate-entrepreneurship-fund-2018/

CC: Lalasticlala Dominique Ishilove Mynd44

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