Bank of Industry (BOI) Fresh Graduate Entrepreneurship Fund (GEF) 2016
The Bank of Industry Limited (BOI) is Nigeria’s oldest, largest and most
successful development financing institution. It was reconstructed in
2001 out of the Nigerian Industrial Development Bank (NIDB) Limited,
which was incorporated in 1964. The bank took off in 1964 with an
authorized share capital of 2 million (GBP).
About Graduate Entrepreneurship Fund (GEF)
The Graduate Entrepreneurship Fund (GEF) is a special N2 billion
empowerment programme for serving members of the National Youth Service
Corps (NYSC) which was launched on October 5, 2015. This novel schemes
which is a joint initiative of the Bank of Industry (BOI) and the
National Youth Service Corps (NYSC), has the following objectives:
Call for Entries - 2nd Round of the BOI Graduate Entrepreneurship Fund (GEF)
- Encourage graduates of tertiary institutions currently
undergoing the compulsory one-year NYSC programme, to venture into
business and become employers of labour rather than job seekers.
- Address the entrepreneurship capacity gap to the NYSC members
who are expected to produce bankable business plans after the three-day
capacity building programme.
- Deepen financial inclusion by de-risking the NYSC members and
making them eligible for concessional loans ranging between N500,000 and
N2 million to be provided by BOI
- Ensure sustainability of the businesses of the eventual loan
beneficiaries through effective monitoring by the NYSC Directorate and
The Bank of Industry Limited (BOI) invite applications from all serving
Corps Members with a potentially viable business ideals to apply for a
loan under the N2 billion Graduate Entrepreneurship Fund (GEF)
The GEF Programme comprises the following:
Venues for Capacity Building Programme
- Online Business Plan Competition to select the most promising
real sector business ideas, Selection/screening of participants shall be
done via the GEF online application portal.
- Three days intensive entrepreneurship capacity building programme
- Loan amount of up to N2 million to be provided to each
successful participant with bankable business plans within BOI's 35 SME
clusters (list at BOI’s website: www.boi.ng) at an interest rate of 9% per annum, with tenors ranging from 3-5 years inclusive of 6 - 12 months moratorium period.
The capacity building programme is scheduled to hold simultaneously at the following venues:
Geo-Political Zone/State - NYSC Camp Location
Bwari Area Council,
North - Central
Sibre Airport Road,
Youth Multi-Purpose Centre
Former Martins TTC,
Aniocha North L.G.A,
Ikot Itie Udung,
Nsit Atai LGA,
Akwa Ibom State
Aisu College Hospital Road,
Ede North LGA,
The GEF Programme Comprises the Following:
Application Closing Date
- Submission of Business plan online via: www.boi.ng/gef
- 4 days intensive Entrepreneurship Capability Building Programme will hold at the centers listed above.
- Loan amount of up to N2 million to be provided to each successful participants at: Interest Rate, 9% Tenor: 3-5 years, Moratorium: 6-12 Months.
7th November, 2016.
How to Apply
Interested and qualified candidates should:
Click here to apply online