Six months after the commencement of the YES programme by BOI, not even a
single person has benefited from the time invested to this initially
promising scheme even after getting to the final stage (Plan Approval).
NOT ONE!
The #YES programme has successfully wasted the precious
times of young entrepreneurs who initially thought #BOI #YES_P would be
their stepping stone to a greater future. BOI lied to these
entrepreneurs, cajoled them to sign up for the programme, hid key terms
of the loan and allowed these helpless youths to commit their time,
resources energy, intellect for 60 solid days in online training from
AMI ( A good exposure I must say) and a week in class training for which
some participants had to travel long distances, feed themselves and pay
for hotel accommodation. Imagine the stress nursing mothers and their
babies had to go through for 6 days and probably more for some.
My
major problem with BOI is this: why must you lie and lure thousands of
youth to sign for the YES programme when you know that there are other
terms and conditions you never disclosed initially to these youths until
they have reached the final stage before telling them? Why? Is it
because you knew if you told them early enough, many would not join the
scheme because you also know only 1-2% of these entrepreneurs can meet
such stringent conditions. BOI an organization I hold in high esteem has
turned itself into a petty corporate liar.
To our great youth,
whether you have started or not, there is one condition(A major
condition) BOI never told you during the training but will inform you
only when your plan is approved and I doubt many will meet such
condition in time, if at all.
YOU MUST PRODUCE 2 GUARANTORS
WORTH 5M (subject to loan amount requested) EACH AND THEY MUST BE READY
TO SWEAR A NOTARISED AFFIDAVIT OF NET WORTH AND DROP THE RECEIPT(S) OF
THEIR ASSET.
In the beginning, BOI only told us our POST
SECONDARY CERTIFICATE is our security not this. But this is what they
will tell you after your plan is approved. I have been there hence
LISTEN!
Unfortunately for me, I can't meet such stringent
conditions of N5m net worth of each guarantor. I was ready to drop my
certificate but this I can not do, after much investment into this
programme. I know many are like me, BOI deceived us into this programme
but what can we do? How many young entrepreneurs can meet these
conditions?
I strongly want to call on the Federal Government and
all parties involved to ask BOI to revert to the original conditions
with which this programme was advertised. We are sincere and excellent
entrepreneurs to have made it this far and we are ready to contribute
their quota in developing our economy that currently lies in a cesspool,
but we need support, not one with impossible conditions as BOI YES
programme is asking for.
To BOI, I thank you for time wasted, I
strongly advise henceforth that you come out plain with the true
conditions from day one and not cajol Nigerian youths into your failed
YES programme filled with half truths. Have you asked yourself why not
one person across the nation has benefited from this YES after 6 months?
I will advise you maintain the certificate as security because it will
be easily met by sincere youths than the 5m each (subject to loan sum
requested), 2 guarantors, if truely the goal of your YES programme is to
assist young entrepreneurs, contribute to the economy and take people
out of poverty. Right now, You are not different from commercial banks,
why do I need to waste my time with you if I have such guarantors in the
first place. Only 1-2% out of 1200 from every batch will finally make
that loan conditions defeating your aim of setting up such programme.
So, please, think again on your conditions as many youth are already
frustrated with your emergency post approval conditions.
To our
youths, I must commend your courage, we have really endured this country
despite the frustration everyday and everywhere. My encouragement to
you all is to keep up fighting and look out for better deals and grants.
For those who will fully meet the requirements, I congratulate you in
advance and enjoin you to do your best to contribute your quota to our
economy as required by the programme. We must not give up as
entrepreneurs, if YES does not work out, there are other better
programmes out there. For all your time and resources spent, take
consolation in the AMI and in-class training which is truely rich and
loaded. You must not give up in yourselves and in Nigeria, no matter the
outcome of your YES application.
I have written all these to
report what is going on that many are not yet privy to. This will help
you prepare ahead and gather enough strength to carry on. This is also
aimed at BOI to see the extent of damage that will be done to many of
these great young entrepreneurs because of their initial lies.
BOI
YES programme is actually a waste of my precious time and resources
because I have invested my all into it with no funding to show after 6
months in the programme.
Shukuriya.
Adisa
Edited by Origbo Kay.
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