CBN Empowers Entrepreneurs, Commences Training for YEDP Applicants

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As part of its contribution towards the
development of entrepreneurs in the country,
the Central Bank of Nigeria (CBN) wednesday
commenced a three-day training programme
for stream one applicants of its Youth
Entrepreneurship Programme (YEDP) in the
South-west zone.
The central bank explained that the event,
which took place in Lagos was one of the
activities scheduled to enhance the quality of
applications to be funded under the
entrepreneurship programme. It said the
programme was developed to strategically
deploy youthful resources for maximum
economic development.
Delivering the welcome address, Director,
Development Finance Department, Central
Bank of Nigeria, Dr. Mudashiru Olaitan, said
the programme, which was aimed at tackling
the challenge of youth unemployment in the
country, started about three months ago.
Olaitan who was represented by the Head,
Development Finance office, Central Bank of
Nigeria, Mr. Adebisi Adedeji, said following
the opening of the portal after the launch,
over 4,000 applicants were received by
Heritage Bank Plc, within two months of the
first phase, saying that, 1,547 successful
applications were selected after the
initial screening and that the number
constituted the applicants that were
benefitting from the capacity building
programme nationwide.
He said applicants from other states would
be trained from 29th June to 1st July, 2016,
adding that as at 15th March,2016 , about
9000 entries were recorded on the portal in
various stages of the application process.
“I am delighted to welcome you all to this
capacity building programme, which is one of
the activities scheduled to enhance the
quality of applications to be funded under the
YEDP,”Olaitan said.
Speaking further, the he said: “This 3-day
capacity building programme will expose
participants to the rudiments of
entrepreneurship and enhance their ability to
develop bankable business proposals to
qualify for funding. The faculty members
were specially selected for their experience
and expertise.
“Successful applicants will also benefit from
a robust post-disbursement support that
includes; peer networking, business
development support (BDS), mentoring and
attachment programmes where applicable.”
While urging the trainees to make judicious
use of the opportunity before them, Olaitan
said “I urge you all to seize this opportunity
and be innovative in your strive to deliver
bankable and realistic bankable business
proposal that will avail you the funding
opportunity towards actualising your
dreams”.
Meanwhile, the Executive Director and Chief
Executive Officer, Africa Leadership Forum,
Mr Olumide Ajayi, one of the trainers, gave
more insight into the programme.
“This programme is an initiative of the
Central Bank of Nigeria, NYSC and Heritage
Bank to try and help young graduates to
begin to pick entrepreneurial skills that can
help them to set up their own businesses and
also become employers of labour instead of
them looking for employment. It’s all part of
job creation scheme of the present
administration to try and give space and
opportunity for young people to begin to
exercise their innate ambitions and dreams.
Because we know that these young people
are very talented and very innovative. So
what this programme is set out to do is to
give them space to be able to demonstrate
also to help the economy,” Ajayi said.

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