CBN/HERITAGE BANK R YIEDP PROPAGANDA

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 you to hear about this corrupt scheme because we

have exhausted all diplomatic approach with CBN/Heritage Bank, and we
are left with no option than to call on your Commission ably led by Ibrahim
Magu to help us investigate CBN/ Heritage Bank;
1. How many and who are the beneficiaries they claimed to
empowered through this fraudulent scheme as reported in the said
newspaper published to the general public.
2. Where is the said money meant for this scheme and help us to
charge them for;
3. Illegal possession of our certificates since last year December.
4. Dishonesty for not fulfilling their own part of empowering the said
shortlisted beneficiaries who met their stringent conditions.
5. fraud to increase customer base and
6. Illegal use of our names for empowerment publication in punch
newspaper.

We appeal to your Commission to 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.
And also help us bring the corrupts individual behind the failed scheme.

Special Regards to our steadfast, devoted and committed Acting

Chairman of this Commission and all his dedicated staffs across the
country that we are solidly behind you and we appreciate your effort in
the crusade against corruption, as we eagerly expect and wait to see the
list of the culprits behind this scheme.

310 Successful Candidates.

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

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