TIES Loan: How To Apply, Requirement, Closing Date

The Central Bank of Nigeria (CBN) has announced the Tertiary Institutions Entrepreneurship Scheme TIES loan that will provide graduates and undergraduates with the opportunity to obtain loans.

Is it true that CBN is giving loan?

Yes the CBN is giving TIES loan which main goal is to facilitate the opportunity to access capital for Nigerian students and graduates with creative entrepreneurial and technological concepts from universities and polytechnics.

TIES loan will help to steer students and graduates away from traditional white collar jobs and toward the development of an entrepreneurial culture for job and economic growth creation.

Are you eligible to receive TIES loan?

Only applicants with the Nigerian college or polytechnic are eligible. In addition, preference is given to new entrepreneurial initiatives with great potential to export, create jobs and transformative impact.

The below documents will prove your eligibility.


  • First-degree certification (BSc/HNDor its equivalent)
  • National Youth Service Certificate (NYSC) discharge or exemption certificate
  • A Certificate of Participation from polytechnics or universities that demonstrate entrepreneurship education; and
  • No more than 7 years after NYSC.

How do I apply for a Ties loan?

Students studying at the undergraduate level could apply for grants via the development component of the scheme.

In a biannual national entrepreneurship competition The Developmental Component would be distributed as prizes to Nigerian universities and polytechnics.

ties loan
ties loan

The competition aims to increase undergraduates’ awareness and visibility of high-impact entrepreneurial/technological concepts, foster entrepreneurial talent hunts in Nigerian polytechnics and universities, and encourage commercially viable and transformative technologies.

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Interested Nigerian polytechnics and universities shall apply to participate in the national biennial entrepreneurship competition on a dedicated online portal (, outlining brief details of the project, potential impact and evidence of originality of project;

How does it work

For the biennial national and regional competitions in entrepreneurship for the biennial competitions, the CBN will select the Body of Experts (BoE) comprised of representatives from both sectors to evaluate the technological and entrepreneurial ideas submitted by Nigerians.

The BoE will evaluate the applications submitted through competitions where students compete in pitching entrepreneurial and tech innovation at regional scales. Finalists going on to the national stage for final review and evaluation in the BoE.

The showcasing programming will be broadcast on social media as well as on national TV stations over 4 (4) weeks in order to in highlighting the advantages of entrepreneurship, and to influence opinions and perceptions of society regarding it.

Based on the recommendations of the BoE on the recommendation of the BoE, the grant will go to the five most outstanding (5) technological and entrepreneurial innovations on a national scale and will be distributed via 55:45 ratio tranches to a special account set up to receive this grant through Nigerian universities and polytechnics, subject to the approval of milestones.

What are the steps to apply for

Graduates of Nigerian universities and polytechnics shall be eligible for participation under the term loan component of TIES.

A Term Loan component comprises of two tires designed for both businesses and individuals

Tier 1/ Individual projects

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The maximum loan amount for the above category amounts to N5.0 million, which is accompanied by the repayment time of 5 years. The current interest rate for the loan is 5percent per annum However, it will rise to 9% by March 1st 2022. Additionally the loan comes with an maximum of 12 months to pay the principal as well as interest.

Documentation Collateral Requirements:

The applicant must be a business entity that is registered in the Corporate Affairs Commission (CAC) and authentically certified duplicates (CTC) of all relevant documents that are submitted.

  • Bank Verification Number (BVN);
  • The First-degree certification (BSc/HND or equivalent);
  • National Youth Service Certificate (NYSC) exempt or discharge certificate; and
  • A Certificate of Participation from polytechnics as well as universities to demonstrate that they have received entrepreneurship training.

Collateral Requirements

  • Then, if signed, you will receive a Global Standing Instruction (GSI) as well as
  • Third-party guarantee issued by an upper federal or state civil public employee (not lower than level 10 and not with less than 5 years before retiring from service) and clergy of note and respectability or a known traditional ruler.

Level 2 Partnership or Company projects

The maximum loan amount for business plans is N25.0 million with a term of five years. The current interest rate is 5% per annum but it is expected to increase to 9% by the 1st of March 2022. Furthermore the loan comes with an maximum of 12 months interest and principal moratorium.

Documentation Collateral Requirements

The partnership or company must be registered as a company through the Corporate Affairs Commission (CAC) and authentic certified duplicates (CTC) of the relevant forms that are submitted.

Every partner or company is required to provide:

  • Bank Verification Number (BVN)
  • First-degree certification (BSc/HND or equivalent)
  • National Youth Service Certificate (NYSC) certificate of discharge or exemption
  • The Certificate of Participation is issued by Polytechnics as well as universities that demonstrate entrepreneurship education.
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Collateral Requirements Requirements

  • Affidavit signed Global Standing Instruction (GSI) by an individual member of the partnership or company;
  • Third-party guarantee issued by an experienced federal or state civil or public employee (not less than level 10 or not with less than five years before retiring from service) or clergy with a notable name and repute or a an acknowledged traditional ruler.

Award of Grants

Five (5) best Nigerian polytechnics as well as universities that present the most innovative ideas and pitches for entrepreneurship will be awarded the following:

  • First spot 1st place N150.0 million
  • Second second place N120.0 million
  • Third spot 3rd place N100.0 million
  • Fourth spot fourth place N80.0 million And
  • Fifth position Fifth place N50.0 million.

The grants will be distributed in these areas:

  1. Agribusiness Processing, production, storage and logistics
  2. The field of information technology Software and application development outsourcing business processes to businesses robots and data management
  3. The creative industry Entertainment, artwork publication, food/event management fashion and beauty/cosmetics, photography;
  4. Sciences and Technology Medical innovation robots, ticketing systems, robotics traffic systems recycling, renewable energy, waste management, and
  5. Any other activities that may be decided by the CBN from time to time.

It is important to note that the Scheme will be in operation for the duration of 10 years in the initial instance (not more than 31st Dec 2031) dependent on the difficulty of the scheme.


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