The Central Bank of Nigeria (CBN) and NIRSAL Microfinance Bank have engaged Young Entrepreneurs of Nigeria (YEN), the umbrella body for Nigerian young entrepreneurs, as their entrepreneurship development partner.
The engagement is specifically in the areas of entrepreneurship development and entrepreneurial training in Nigeria for entrepreneurs and micro, small and medium enterprises (MSMEs) seeking access to credit via the CBN popular Agric-Business, Small and Medium Enterprises Investment Scheme (AGSMEIS).
According to the letter of engagement/partnership signed by Abubakar Abdullahi Kure, Managing Director and Darlington Lawson, Executive Director Banking of NIRSAL Microfinance Bank, YEN is to train and certify various candidates, who intend to apply for the AGSMEIS loan as well as upload application forms of applicants into AGSMEIS portal among other operations.
According to Chris Kohol, National President, YEN, the organisation was appointed as an Entrepreneurship Development Institute in November, 2020, to represent the interest of Nigerian entrepreneurs on the scheme and due to the organization’s track records in entrepreneurship development in Nigeria.
Kohol reiterated that the organization is prepared and set to train and prepare over 100,000 entrepreneurs and MSMEs for CBN AGSMEIS loan in 2021 across Nigeria. YEN is the umbrella body and voice for Nigeria young entrepreneurs, championing youth entrepreneurship development in Nigeria through access to mentorship, entrepreneurship training, technical support, networking, funding and access to market while driving trade, business innovation in the long run for National productivity and socio-economic development of Nigeria.