The Bank of Industry , BoI and the National Youth Service Corps , NYSC have signed a Memorandum of Understanding, MoU on entrepreneurial skill development for youths in the country just as a corps member got N3.8m collateral-free loan. The bank had sought collaboration with the NYSC to train and empower corps members in various entrepreneurial skills and give them collateral-free loan as capital and expansion of business initiatives. BoI Managing Director, Ms. Eveyln Oputu at the signing of the MoU with the Director General of the scheme, Brigadier General Johnson Olawunmi in Abuja said Nigerian youths are extremely talented and deserve to be supported. She believed that the acquisition of skills and the loan to help the youths start up their own businesses would reduce the craze for white collar jobs and build them to be self-reliant. Oputu said that the idea of collaborating with NYSC on Skill Acquisition & Entrepreneurship Development , SAED, was born out of unemployment challenges youth Corps members face when they complete their youth service programme. Oputu said that the partnership will cut across various disciplines such as learning an entrepreneurial trade skill, engineering skills for those who are not good in trading skills as well as sports among other disciplines. She stated, "We will train them [corps members] in skill acquisition. We know that not everybody has the ability to learn entrepreneurial skills, some have the skills to do business, some are good in engineering and they can transform the rural areas in our country because they can help to transform the roads, also those in sports who can train children in sports. Bank of Industry is trying to collaborate with people to do a football academy and basketball."
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