CBN TIES Loan Application Portal 2021 - Register for CBN Tertiary Institutions Entrepreneurship Scheme (TIES) Loan
Tertiary Institutions Entrepreneurship Scheme (TIES) is a Central Bank of Nigeria (CBN) initiative to address rising youth unemployment and underemployment. CBN TIES application form 2021 is now available on the TIES portal. 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.
The Scheme shall be implemented through three (3) components:
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. The CBN Act was amended in 1991, 1993, 1997, 1998, 1999 and 2007.
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. The central bank's role... read more
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Aim and Benefits of CBN Tertiary Institutions Entrepreneurship Scheme (TIES) Loan
Tertiary Institutions Entrepreneurship Scheme (TIES) 2021 is designed to create a paradigm shift among undergraduates and graduates from the pursuit of white-collar jobs to a culture of entrepreneurship development for economic development and job creation. The Scheme thus aims to provide an innovative financing model that will create jobs, enhance the entrepreneurial ecosystem and support economic growth and development.
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;
Science and technology – medical innovation, robotics, ticketing systems, traffic systems, renewable energy, waste management; and v. Any other activity as may be determined by the CBN from time to time.
Note: Priority will be given to innovative entrepreneurial activities with high potentials for export, job creation and transformational impact.
The broad objective of the Scheme is to enhance access to finance by undergraduates and graduates of polytechnics and universities in Nigeria with innovative entrepreneurial and technological ideas. Other specific objectives of the Scheme include:
Provide an enabling environment for co-creation, mentorship and development of entrepreneurial and technological innovations;
Fast track ideation, creation and acceleration of a culture of innovationdriven entrepreneurship skills among graduates of polytechnics and universities in Nigeria;
Promote gender balance in entrepreneurship development through capacity development and improved access to finance;
Leapfrog entrepreneurial capacity of undergraduates and graduates for entrepreneurship and economic development in partnership with academia and industry practitioners; and
Boost contribution of non-oil sector to the nation’s GDP.
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:
Creative industry; and
Science and technology.
Requirements for CBN Tertiary Institutions Entrepreneurship Scheme (TIES) Loan 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.
CBN TIES Graduate Loan Application Process Video Tutorial
CBN TIES Application Process - Step By Step Guide
Here is a step by step guide on how you can successfully apply for the ongoing Nigeria Youth Investment Fund (NYIF)
Step 1: Visit CBN TIES Application Portal for the Application Form
Click on CBN TIES portal link to open the portal. Once the CBN TIES portal loads, click on the "Apply Now" button that is in green color. You will see a pop up with an introduction message, click "Proceed"
Step 2: Choose Loan Type
Once the TIES application form opens, the first think to do is to select the loan type you want. There are two types of loan available;
a. Tier 1 - Sole Proprietorship
b. Tier 2 - Small Company / Enterprise
Select the option that best describe your business
Step 3: Enter your NYSC / Graduation Details
You will be asked to provide the following NYSC / Graduation information
NYSC Certificate Number
Year Of NYSC Certificate
Year of Graduation
Note: only those that graduated from 2015 to 2020 are allowed to apply
Step 4: Enter Your Personal Details
The email and password you entered will required during login. Note that your password must be up to 8 character
Step 5: Click Submit
When you are done filling the above details, click "SUBMIT" to create your TIES account.
COMPLETE AND UPDATE YOUR INFORMATION
If your details are correct, your TIES account will be created and you will be asked to complete the following;
Step 6: Owner Verification
Step 7: APPLICANT INFORMATION
Date Of Birth
Mobile phone No
State of residence
State of Orgin
Step 8: GRADUATE INFORMATION
Name of Higher Institution Attended
Programme of Study
Degree Certificate Number
Current Employment Status
Centre or University of Entrepreneurship Training
Year of Entrepreneurship
Entrepreneurship Certificate Number
Step 9: BUSINESS INFORMATION
Has your Company been registered?
If yes, Kindly provide Registration Number.
Date of Company Registration
Date Business Started
TIN (Tax Identification Number)
Business Account Number
Business Phone No
Step 10: PROJECT INFORMATION
Type of Business
LGA of Business
Geo Political Zone
Step 11: ATTACHMENTS
You will be asked to attach the listed documents.
(Max file size: 2mb)
CERTIFICATE OF INCORPORATION/REGISTRATION
CERTIFIED TRUE COPY OF FORM CAC 2.5 (ALLOTMENT OF SHARES)
CERTIFIED TRUE COPY OF FORM CAC 2.1 (APPOINTMENT OF COMPANY SECRETARY)
FEASIBILITY REPORT/BUSINESS PLAN
DIGITAL COPY OF HIGHER INSTITUTION DEGREE CERTIFICATE (BSC/HND OR EQUIVALENT)
CERTIFICATE ISSUED BY POLYTECHNICS OR UNIVERSITIES EVIDENCING ENTREPRENEURSHIP TRAINING
MEMORANDUM AND ARTICLES OF ASSOCIATION (MEMART)
CERTIFIED TRUE COPY OF FORM CAC 2.3 (PARTICULARS OF DIRECTORS)
MEANS OF IDENTIFICATION (I.E. PHOTOCOPY OF INTERNATIONAL PASSPORT OR DRIVER’S LICENSE OR NATIONAL IDENTITY CARD OR PERMANENT VOTER’S CARD)
QUOTATION/PROFORMA INVOICE FOR THE SUPPLY OF THE ITEMS OF MACHINERY AND EQUIPMENT
DIGITAL COPY OF NYSC DISCHARGE CERTIFICATE
DULY SIGNED GLOBAL STANDING INSTRUCTION (GSI)
Step 12: Click Submit
When you are done click "SUBMIT"
All enquiries and returns should be addressed to:
The Director, Development Finance Department, Central Bank of Nigeria, Corporate Headquarters Central Business District, Abuja.