CBN, Banks  to Disburse N100m Loans to NYSC Members


By Mohammed Aminu in Sokoto

The National Youths Service Corps( NYSC),Central Bank of Nigeria and other commercial banks have concluded  plans to disburse N 100 million loans to corps members.

 The other banks are Bank of Agriculture, Bank of Industry, Heritage Bank, as well as the NSYC Foundation.

Speaking at the NYSC permanent orientation camp in Wamakko local government area of Sokoto State yesterday, the NYSC Coordinator in the state, Mr. Musa Abubakar, said the management of the scheme also signed a Memorandum of Understanding with the Sustainable Development Goals ( SDGs), in this direction.

He stated that the loans would be disbursed to the corps members under the Skills Acquisition and Entrepreneurship Development unit of the scheme.

According to him, the interest-free loans  were meant to help the corps members establish small-scale enterprises.

Abubakar further stated that each of the beneficiary corps member would be given a minimum of N3 million and a maximum of N10 million.

He stressed that the gesture  would enable the corps members to become employers of labour.

” Every year, nearly 250,000 youths graduate from the nation’s universities and the job opportunities are very scarce.

” This gesture will go a long way in further reducing poverty, unemployment and restiveness”, Abubakar added.