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2021 CBN Tertiary Institutions Entrepreneurship Scheme Loan – TIES Application Form Portal

The TIES application form is now available on the TIES portal. Tertiary Institutions Entrepreneurship Scheme (TIES) is a Central Bank of Nigeria (CBN) initiative to address rising youth unemployment and underemployment.

The CBN developed the Tertiary Institutions Entrepreneurship Scheme (TIES), in partnership with Nigerian polytechnics and universities to harness the potential of graduate entrepreneurs (gradpreneurs) in Nigeria.

Three (3) components of the Scheme are: Term Loan Component; Equity Investment Component; and Developmental Component.

About Central Bank of Nigeria (CBN)

The Central Bank of Nigeria (CBN), is the central bank and apex monetary authority of Nigeria established by the CBN Act of 1958. And commenced operations on July 1, 1959.[2].

The CBN Act was amended in 1991, 1993, 1997, 1998, 1999 and 2007.[3]. The major regulatory objectives of the bank as stated in the CBN Act are to: maintain the external reserves of the country, promote monetary stability and a sound financial environment, and to act as a banker of last resort and financial adviser to the federal government.

Benefits of CBN Tertiary Institutions Entrepreneurship Scheme (TIES)

  • Activities to be covered under the Scheme shall include innovative start-ups and existing businesses owned by graduates of Nigerian polytechnics and universities in the following areas:  Agribusiness – production, processing, storage and logistics;
  • Information technology – application/software development, business process outsourcing, robotics, data management;
  • Creative industry – entertainment, artwork, publishing, culinary/event management, fashion, photography, beauty/cosmetics;
  • Science and technology – medical innovation, robotics, ticketing systems, traffic systems, renewable energy, waste management; and v. The CBN would determine other activities.
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Five (5) top Nigerian polytechnics and universities with the best entrepreneurial pitches/ideas shall be awarded as follows:

  • First place – N150.0 million;
  • Second place – N120.0 million;
  • Third place – N100.0 million;
  • Fourth place – N80.0 million; and
  • Fifth place – N50.0 million.

The grants shall be in the following areas:

  • Agribusiness;
  • Information technology;
  • Creative industry; and
  • Science and technology.

Requirements for CBN Tertiary Institutions Entrepreneurship Scheme (TIES) Qualification

Applicants under the Scheme shall be graduates of Nigerian polytechnics and universities with:

  • First degree certificate (BSc/HND/ or its equivalent);
  • National Youth Service Certificate (NYSC) discharge or exemption certificate;
  • Certificate of Participation issued by polytechnics and universities evidencing entrepreneurship training; and
  • Not more than 7 years post-NYSC.

The beneficiary shall:

  • Apply on the dedicated online portal and provide all requisite documentation to support the application;
  • Present for verification original copies of submitted certificates and documents;
  • Submit business proposal and other documentation requirements
  • Adhere strictly to the terms and conditions of the Scheme and avoid any forms of plagiarism in the project idea;
  • Utilize the funds for the purpose for which it was granted;
  • Present the business and its location for mapping/tagging, as well as monitoring and evaluation;
  • Maintain accurate and up-to-date records available for inspection/verification by the CBN and Monitoring Team; and
  • Adhere strictly to the terms and conditions of the Scheme.
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Documents Required for Application

  • First degree certificate (BSc/HND/or its equivalent);
  • National Youth Service Certificate (NYSC) discharge or exemption certificate;
  • Certificate of Participation issued by polytechnics and universities evidencing entrepreneurship training;
  • Letter confirming the applicants’ deposit of required certificates from PFI;
  • Projected Statement of Income, Statement of Affairs, and cash flow projections for start-ups and businesses with less than 3 years of operations;
  • Business plan outlining details, financials and economic benefits of the projects.

CBN TIES Loan Application Form 2021

https://cbnties.com.ng/register

CBN TIES Loan Application Portal

https://cbnties.com.ng

CBN TIES Loan Portal Login

Login to your CBN TIES portal account
https://cbnties.com.ng/login

CBN Guidelines for the implementation of Tertiary Institutions Entrepreneurship Scheme (TIES)

CBN TIES Implementation Guidelines

2021 CBN Tertiary Institutions Entrepreneurship Scheme Loan – TIES Application Form Portal

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