CBN-Certified EDI Centres In Nigeria For Training Entrepreneurs And Their Contact Details

For small scale entrepreneur to access any of the loans supported by the Central Bank (CBN), he must have undergone specific training at Entrepreneurship Development Centres or EDC which are certified by the apex bank.

Also known as Entrepreneurship Development Institute (EDI), the centres are saddled with the mandate of developing entrepreneurship spirit among Nigerians.

They are also expected to provide insight into the tools, techniques and framework for managing all functional areas of business enterprise, including production, marketing, personnel and finance.

Some people prefer to call the loan application training centres, whichever way, we’ve covered everything you need to know about CBN certified EDC in Nigeria.

What Gave Birth To EDC in Nigeria?

Apart from regulating the operations of commercial banks in Nigeria, the CBN is also supporting Micro, Small and Medium Enterprises (MSMEs). It’s one of the microfinance roles of the apex bank.

In 2006, it initiated plans to support the efforts of the following agencies:

• Small and Medium Enterprises Agency of Nigeria (SMEDAN),
• National Directorate of Employment (NDE),
• National Poverty Eradication Programme (NAPEP),
• Industrial Training Fund (ITF) among others by coming up with one Entrepreneurship Development Centre [EDC] in each of the six geo-political zones in Nigeria.

Subsequently, an advertisement was placed in major dailies 11th to 13th September 2006, inviting bidders that would be supported to foster private sector led, commercially oriented and sustainable entrepreneurship development programmes in the zones by establishing viable entrepreneurship development centres.

The aim of CBN EDC include:

This is to encourage private entrepreneurship

• Self-employment,
• Job creations,
• Income growth,
• Poverty eradication
• Economic development

Self-employment

To generate employment opportunities for Nigerians in pursuance of the provisions of the National Economic Empowerment and Development Strategy [NEEDS] and recently vision 2020.

Economic development

To raise a new class of entrepreneurs/owners, who can compete globally and succeed in managing MSMEs and provide the bridge for future industrialization of the country.

Poverty eradication

To develop skills of would-be-entrepreneurs to successfully start, expand, diversify and manage business enterprises as well as link them with financial institutions to start-up capital, especially the microfinance banks.

What is expected of the training centres:

The certified centres are expected to:

• provide physical structures,
• training materials,
• equipment,
• human resources

And other facilities that would assure internationally competitive, effective and sustainable services capable of meeting the needs of MSMEs in the zones.

Funding of Entrepreneurship Development Institute EDI

At the take-off stage, CBN provided a significant part of the initial take-off capital while each centre would, in addition, provide counterpart funding and show evidence on how the Centre would be self-financing over time. We pointed this out in the application process on how to become an accredited EDC.

Today, the power of the CBN-certified EDC is enormous in that they act as the link between SME seeking a loan and the banking granting the loan. One of such is Agric Small Medium Enterprise Scheme (AGSMEIS) loan where you are expected to provide evidence of training from an accredited EDI centre.

Depending on your geopolitical zone or state of residence, you MUST enrol for training at EDC.

Lagos has six EDC

They are:

1. Centre for Entrepreneurial Development, Lagos
2. Pan Atlantic University
3. Fate Foundation
4. Empretec Nigeria Foundation
5. LEAP Africa
6. After School Graduate Development Centre

Below is the full list and addresses of CBN Entrepreneurship Development Centres in Nigeria, their website, location, and contact details

 Note:

The EDC listed here are also recognized by the Bank of Industry