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Wednesday, November 15, 2017

 

The Central Bank of Nigeria (CBN) has launched the Youth Innovative Entrepreneurship Development Programme (YIEDP) in furtherance of its intervention in the real sector of the economy and job creation effort.

CBN Fund(N100000-N3,000000) was disclosed in a statement released by Governor, Mr. Godwin Emefiele, Performing the official launch at the International Training Institute, Maitama, Abuja, on Tuesday, the Governor, Mr. Godwin Emefiele, said the programme was aimed at harnessing the teeming youth population in the country to propel that demography to the much-needed economic recovery.

Emefiele, who decried the alarming figures coming from the Nigerian Bureau of Statistics (NBS), which put the number of Nigerian youths in the labour market at 36.3 million, representing 48 percent of the entire labour force, said the situation could not be allowed to degenerate further, given the bright ideas and big dreams of the youth.
The Governor stressed that the programme would provide timely and affordable credit to assist youths in implementing their business ideas, thereby providing the mechanism of stimulating growth, reducing unemployment as well as addressing youth restiveness.
According to the statement, some of the states have already been funded and the participants will starts to receive bank alerts through the Conditional Cash Transfer (CCT).

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