Bank of Industry (BOI) Graduate Entrepreneurship Fund (GEF) for NYSC Members



Opportunities abound for members of the National Youth Service Corps (NYSC) with entrepreneurial skills as the Bank of Industry (BOI) launched the Graduate Entrepreneurship Fund (GEF).

Bank of Industry (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 GEF scheme which is a joint initiative of the Bank of Industry (BOI) and the National Youth Service Corps (NYSC), has the following objectives:

  • 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 among 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 BOI.

The GEF scheme comprises the following:

  • 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-day 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: 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:

Former Martins TIC,
Aniocha North L.G.A,
Delta State.

Bende L.G.A,
Abia State.

Aisu College Hospital Road,
Osun State.

Government College,
Taraba State.

Plateau State.

Main Road,
Katsina State.

Iyana Ipaja,
Lagos State.

NOTE: The Entrepreneurship Capacity Building Programme will take place at the above stated centres between 18th – 20th November, 2015. Interested serving NYSC members are hereby requested to apply online immediately

How to Apply
Interested and qualified candidates should follow this link:

Francis Nwokike

Francis Nwokike is the Founder and Chief Editor of The Total Entrepreneurs. A Social Entrepreneur and experienced Disaster Manager. He loves researching and discussing business trends and providing startups with valuable insights into running a profitable business. He created TTE to share ideas and tips to help entrepreneurs run and grow their businesses.

5 Responses

  1. Idara Essien Effiong says:

    Good evening sir, during my service year as a youth Copper we where not aware of this BIO for Corps Members in Ebonyi State and now, i have a small business and I wish to seek for loan, how can I go about it? Which I will like to know about the requirment of BIO to approach for my business loan. Thank you

  2. ishabor hope ukwili says:

    I wish to participate in this your programme

    • Hello Ishabor, thanks for your request but unfortunately this programme is meant for Corps members of NYSC alone. But if you have a small business and wish to seek for loan, you can approach BOI for a business loan and if you meet the requirments, funds will be released to you.

      Thank you.

  3. austin says:

    Keep me update for d next registration.

    • Hello Austin, the best method on getting updates from TTE is by subscribing to this blog using your email so you can get upto date information on matters that interest you direct on your email box.

      Thank you.

Leave a Reply

Your email address will not be published. Required fields are marked *