bank plc ) ii. member - mr. patrick iyamabo ( first bank plc ) iii. member - mr. adamu lawani ( zenith bank plc ) iv. member - ms. ngover ihyembe - nwankwo ( rand merchant bank ) v. member - mr. ashafa ladan ( national university commission ) vi. member - engr. abbati d. k. muhammad ( national board for technical education ) vii. member - dr. friday okpara ( smedan ) viii. member - mr. tope fasua ( global analytics consulting ) ix. member - brigadier - general folusho oyinlola ( national defence college ) x. member - ms. bolanle adekoya ( pwc ) xi. secretary - mrs. temitope akin - fadeyi ( cbn ) 11. distinguished ladies and gentlemen, today as well, cheques shall be presented to five ( 5 ) beneficiaries under the term loan component of the scheme. these beneficiaries are among the many who submitted their applications via the dedicated portal and their applications processed. i would like to urge the recipients of these loans to judiciously utilize the funds for the purpose for which they had indicated in their applications. it is my strong belief that the scheme will offer our youth entrepreneurs access to much needed finance, which has been identified as one of the major limiting factors to entrepreneurship development in nigeria. 12. we are aware that there has been agitations by some tertiary institutions that were not included in the pilot phase of the scheme. let me reiterate here that with the launch of the tertiary institutions entrepreneurship scheme today, other deserving tertiary institutions will be brought on board over time. with ongoing dialogue and engagements with other segments of the educational sector, feedbacks received shall form the basis for the periodic review of the guidelines, with the intent to scale up participation under the scheme in future. 13. distinguished ladies and gentlemen, let me restate the central bank of nigeria ’ s total and unrelenting commitment to supporting the country ’ s educational sector in all ramifications, as without a robust educational sector wholesome development shall remain a mirage. i believe with the launch of the tertiary institutions entrepreneurship scheme, and other programmes such as this, it is only a matter of time before our tertiary institutions return to the glory days, where they churned out graduates, not only ready and able to provide real solutions to the various

opening remarks by dr. godwin i. emefiele, con at the official launching of the tertiary institutions entrepreneurship scheme ( ties ) thursday, 25th november, 2021 protocols good afternoon, distinguished ladies and gentlemen. i am pleased to welcome you to the official launching of the entrepreneurship tertiary scheme institutions ( ties ), an intervention of the central bank of nigeria aimed at addressing the dual challenge of youth unemployment and underemployment in nigeria. the scheme, developed in partnership with nigerian polytechnics and universities, is designed to harness the potentials of graduate entrepreneurs by creating a paradigm shift from the pursuit of white - collar jobs to a culture of entrepreneurship for economic development and job creation. 1. as you are all aware, at the occasion of the 51st convocation of the university of lagos, in july 2021, i delivered the convocation lecture titled, national development and knowledge economy in the digital age : leapfrogging smes into the 21st century. at that event, i promised that the central bank will seek fresh collaboration with the nation ’ s tertiary institutions entrepreneurship to programmes, develop and to support — through the provision of access to finance — graduates and undergraduates who have bankable ideas, to bring the ideas to fruition. engagements have been on - going between the central bank and the leadership of some of our tertiary institutions regarding the framework for an innovative financing model that will support entrepreneurship development among our graduates and undergraduates. this launch of the tertiary institutions entrepreneurship scheme today, is a culmination of the engagements and fulfillment of that promise. 2. with about 600, 000 students graduating yearly from nigerian tertiary institutions, and without the commensurate employment opportunities in both the public and private sectors, it has become imperative that government, at all levels, puts in place policy measures to development measures support among would our create entrepreneurial youth. an such enabling business ecosystem that supports innovation and enables the youth to unleash their entrepreneurial potential, by redirecting their focus from seeking white - collar jobs to a culture of entrepreneurship development. the ecosystem should provide support in reorientating, training, and providing a financing model apt to the peculiarity of the sector within which the businesses operate. 3. ladies and gentlemen, entrepreneurship is an integral part of any economy, and entrepreneurs play a key role in driving growth and innovation, which in turn results in job creation. in line with its mandate of ensuring monetary and price stability, and its developmental mandate of ensuring inclusive growth in the