Bankers to declare assets.

CBN - Central Bank of Nigeria has directed all bankers in the 19 deposit banks in the country to declare their assets immediately.
In a letter sent to all the banks through the Banking Supervision Department of the CBN, the apex bank mandated all bankers to declare their assets through a court affidavit. A move not unconnected to the administrations campaign against corruption.
So far only 3 of the 19 deposit banks have had their staff comply with this directive.

Why YIEDP will fail

The Youth Innovative Entrepreneurship Development Programme, recently conducted a training program for over 1500 Nigerian youths. A program aimed at preparing them for the world of business management. The promises this program comes with sounds too good to be true, and like we know too good to be true, usually ain't good at all or may be good afterall.
YIEPD is to offer a maximum loan of 3million Nigerian Naira to startup and expanding youth business in Nigeria, on a collateral of certificates, a guarantor and other hidden policies.

We take a look at possible reasons why it could fail and a glance at why it may succeed.

Why we think it will fail.

Inadequate planning :
The three days training, conducted by CBN, Heritage Bank and NYSC takes 6 weeks in a normal proceedings, squeezed into less than 72 hours, I tell you these youths are as green as they came.  And the only thing anyone can boast was related, is just how to write a business plan.
Inadequate planning and training will be one factor to the failure of YIEPD.

Pressure :
Another factor will be the pressure to pay back. The majority of businesses presented were startup, and 97% do not have any experience what so ever on running some of the businesses they presented. By Statistics 70% of startups fail, even when starters are not under pressure as this young CEOs would be when they receive the loan.

Inflation rate in Nigeria:
Businesses are already failing, in Nigeria. Dollar floating, high cost of everything investors packing, impending threats of strike actions. Are these businesses not going to be established in Nigeria? What would have changed? When banks and oil firms are laying off workers, Nigeria are expecting startup businesses to resurrect the economy and reduce unemployment rate.

Why it will be a success.
YIEPD could revolutionalize the Nigerian economy, setup a class of African CEOs that can set Africa going.
There is no place anyone can get a single digit loan, in Nigeria or anywhere else.
Nigeria holds an opportunity untapped and a market of over 180 million people. With this recent inflation, Nigeria and Nigerians will be looking at something new, decent and innovative. This youths have a potential, they are creative, and are ambitious.
In a few years we all we thank CBN for this.

CBN takes over Skye Bank

CBN has taken over the Board and management of Skye Bank Plc. Reason behind this according to the CBN governor is that the bank failed to meet the regulator’s minimum key liquidity and capital adequacy ratios.

CBN governor has stated that the bank is not in distress, and that their actions is to ensure depositors fund do not go "a story "

YIEDP South South on the go.

Preparations and registrations are still ongoing in Akwaibom the South South training centre for YIEDP.
NYSC, CBN, anf HB bank are on ground ensure all goes as planned. On Ground for NYSC is the DG represented by Deputy Director Sule, the State cordinator was represented by NYSC  deputy human resource
Person Augustine Udo, while the CBN governor was represented by Amidu.
They all gave opening speeches, which they all stated how lucky the selected where to be given an opportunity to actualize their dreams, in the entrepreneurship department, especially in a time when government policy is encouraging diversification of the economy and encouraging youth entrepreneurship.

The Corp members and Ex Corp members expressed their gratitude, and stated their desire to help build the nation and reduce unemployment, using the assist they will be receiving.

The YIEDP was kicked off on March 15 2016, and over one million youths registered.
The program unlike uwin does not give out national cakes, rather it is a single digit loan of 9% interest over three years given to this young potential Financial magnets of tomorrow. It is hoped that this program will reach 1million youths.
Venues of training can be found in the 7geopolitical zones : Abuja, Akwaibom, Enugu, Plateau, Osun, Lagos, and Kastina.
The training ends on 02/07/2017, with certificate given to the participants.

YIEDP kicks off!

The next stage of the CBN/HB bank youth innovative  entrepreneurship  development Programme (YIEDP) will officially kick off on 29th June 2016, as have been gathered by Naija Youth Voice, for Akwaibom State, the training will hold at NYSC orientation camp. Officials and participants are expected to arrive today and tomorrow respectively. The Stream 2 of NYSC batch A will also be leaving camp tomorrow.

In Akwaibom, five participants will be  taking the CBN/HB organized training. They have also been provided with a doctor, a pharmacist, and a Nurse.
Naija Youth Voice will keep you updated as the training goes on.

The picture shows a participants acknowledgement letter depicting requirements.

Please do feel free to send updates about the training in your states.