NYSC Gets N7.2bn Loan From 3 Banks For Disbursement To Corps Members For Entrepreneurship

Bank of Industry (BoI), First City Monument Bank (FCMB) and Heritage Bank have released a total of N7.2 billion loan to the National Youth Service Corps (NYSC), to boost corps members skills acquisition and empowerment goals.

“The tune of 2 billion Naira by Bank of Industry, 5 billion Naira FCMB Credit Direct, 200 million Heritage Bank, 10 million NYSC Foundation and Bank of Agriculture loan have been given to boost corps members’ skills acquisition,” Director General, NYSC Brigadier General Johnson Olawunmi said at the 2015 Batch ‘B’ stream one, Orientation Course at Ipaja, Lagos, on Saturday.

He noted that the efforts put in by the scheme, to get some financial institutions and establishments to key into NYSCs Skills Acquisition and Empowerment goals was beginning to yield result with the granting of loans.

However, he urged the corps members to quickly take advantage of these loans which require their NYSC discharge certificate as collateral by accessing these funds and using it judiciously to start up their businesses.

He maintained that governments solution to the problem of unemployment is Skill Acquisition and Entrepreneurship Development, urging corps members to embrace this initiative as government job is on the decrease.