CBN/HERITAGE BANK REFUSED TO PAY YIEDP

BENEFICIARIES
CBN/Heritage Bank has refused to give youths the 3million loan the Federal
Government through the C.B.N provided for youth empowerment through the
Youth Innovative Entrepreneurship and Development Programme (YIEDP). We
heard from top sources within C. B . N and Heritage bank that these institutions
does not want to give us the loan and they have diverted the funds.

TheYouth Innovative Entrepreneurship and Development Programme (YIEDP) is

a CBN initiative to empower Nigerias Graduates. Heritage bank is the pilot bank
for the program.

On March 2016, there was a call for application asking youths with viable business
ideas to apply for an individual loan of 3million and a group loan of 10million. The
guarantee for the loan is our University Degree Certificate and National Youth Service
Certificate, alongside a guarantor attesting to pay 50% of the loan in case of default.

On October 17, 2016, after rigorous selection process, 310 candidates were selected
for the programme. It was blown all over the media, the radio, TV stations and
newspaper houses. All said that the President Muhammadu Buharis administration is
giving out 3million loan to youth.

We, the 310 beneficiaries whose names appeared on pages 26-29 of Monday, October
17, 2016 PUNCH newspaper, hereby say emphatically and categorically that no loan
has been given to us. Despite the fact that our University Degree Certificate, N.Y.S.C
Certificate, Notarized attestation letter to 50% of the loan by our guarantor and 55
other stringent criteria have been met by us. It is also noteworthy that unemployed
graduates have spent as much as 100,000 to process the cumbersome
documentation.

As we write now, all our certificates have been with Heritage Bank since last year, and
we are yet to receive the loan. We re-emphasize that we have met all the stringent
conditions in the offer letter for the loan agreement. But CBN/Heritage bank has been
playing hide and seek game with us, using all manner of delay tactics to make sure
we do not access the loan. CBN/Heritage bank has been playing on our intelligence by
disbursing funds to 94 (part payment without working capital) people therefore giving
us false hope and unreal expectations. In fact, they currently do not have any
explanation for their ineptness.

We decided to cry to the media for the whole world to hear because we have
exhausted all diplomatic approach with CBN/Heritage Bank, and we are left with no
option than to call on Activists, Concerned Bodies to help us sue Heritage Bank for
damages; illegal possession of our certificates, dishonesty, fraud to increase customer
base and illegal use of our names for empowerment publication in punch newspaper.

We appeal to the Presidency, Senate and Journalists to be up to task and help us

put CBN/Heritage Bank in check so that the youth empowerment programme of the
President Muhammadu Buharis administration will not just be on the pages of
newspaper and on T.V, but it will be felt by all citizens of Nigeria and stop all the
Media propaganda being employed on this failed scheme.

Special Regards to our President, Commander in Chief of the Armed Forces President
Muhammadu Buhari, as we eagerly expect a rapid change from callousness shown by
CBN/Heritage Bank.

310 Successful Candidates.

Below is a verifiable detail of the 310 list of successful candidate as

th
released by THE PUNCH NEWSPAPER on Monday, October 17 , 2016