Unity Bank Gives 12 NYSC Members N4m for Business

By Ahmed Rahma

No fewer than 12 members of the National Youth Service Corps (NYSC), who took part in Unity Bank’s flagship business plan competition, Corpreneurship Challenge, have won cash prizes worth N4 million.

The winners emerged during the final business pitch in the fourth edition of the contest for NYSC 2020 Batch B corps members, which took place simultaneously across four NYSC camps in Lagos, Ogun, Benin, and Abuja recently.

The cash prizes included a N200,000 business grant for each of the second runners-up, N300,000 business grant for the first runners-ups and a star prize of N500,000 for each of the four winners.

Some of the winners included Evelyn Esumai, Aisosa Erica and Ozuoka Moses in Abuja camp, while Akomolade Blessing, Okafor Augustine and Edokpayi Harrison emerged the winners in the Benin camp.

In Lagos, Moses Bolanle, Iran-Ola Oluwosulu and Zainab Muhammed emerged winners to claim the cash prizes.

Over 300 Corp members applied out of which 40 were shortlisted for the pitching session from where the 12 winners emerged.

The contestants’ business plans, which ranged from fish production, poultry farming, fashion, piggery to beverages, were assessed on originality, marketability, future employability potential of the product and knowledge of the business.

Speaking during the grand finale, the Group Head, Retail and SME Banking, Unity Bank Plc, Mr Olufunwa Akinmade, said the competition was to encourage more youths with clear entrepreneurial intentions to expand or start profitable ventures.

“The grants are not a loan and we want the money to be directed towards profitable ventures. First, you must learn that making mistakes is part of the business.

“It is important to constantly think about the challenges you will face. Put the same energy you all have displayed in preparing for this contest in your businesses as you face your post-service year ahead,” he said.

Recall that Unity Bank debuted the Entrepreneurial Development Initiative in 2019 to specifically target corps members as part of efforts to contribute to job creation in Nigeria.