18th July, 2011
Brig.-Gen. Maharazu Tsiga , the NYSC Directorâ€“General, says the Federal Government has earmarked N500 million for disbursement as loans to corps members to enable them to establish businesses.
Tsiga made the initiative known in Sokoto on Sunday when he addressed Batch â€˜â€™Bâ€ 2011 corps members at the temporary NYSC orientation camp at Government Technical College, Farfaru-Sokoto.
He said that under the programme ,â€œcorps members will be given some money to establish their own small-scale businesses.
“The money had been approved by President Goodluck Jonathan under the NYSC war against poverty programme.â€
Tsiga said that potential beneficiaries were expected to present feasibility studies, adding that â€when they are approved, we only require their bank accounts to deposit the approved loans.â€
He said that the programme, initiated in 2009, was being properly supervised.
Tsiga said that 20 beneficiaries of the programme had just returned from the U.S. after undergoing free training in that country.
“Each of them was given N5 million for the establishment of their own small-scale businesses ,â€ he added.
Tsiga said that the payment of the newly approved N19,800 monthly allowance to NYSC members took effect from March.