N75 BILLION FUND: VP Osinbajo Finally Breaks Silence On Yahoo Boys Existence—-Vice-President Yemi Osinbajo has stated that the days of internet fraudsters popularly called ‘yahoo boys’ are numbered, as he urged Nigerian youths not to be distracted by them.
He stated this while delivering the first convocation lecture of Kola Daisi University, Ibadan, Oyo State, the Vice President who gave examples of many young Nigerians who have made it without cutting corners, stated that these internet fraudsters will go to jail.
The Vice President urged youths to access various programs set up by the Federal Government and the Central Bank of Nigeria to support young entrepreneurs and other Nigerians, adding that there is need for them to also embrace integrity and character in order to excel in life.
”Don’t be distracted by the yahoo yahoo boys that are coming up one day with fancy cars. Their days are always numbered. They will go to jail one day. The point, of course, is that what is the point of making money when you can’t sleep well at night. The point is that all of the examples I’ve given, not one of them has wealthy parents. All of them did most, if not all, their education here in Nigeria.
“So, it is important for us to bear in mind that a Nigerian education is an important credential because you understand the terrain and you understand the law of the land. But you must find out about the support that is available either from the private sector or public sector. For example, the Federal Government has established a N75 billion National Youth Investment Fund. This provides financial support for small businesses in any field.
”The Central Bank of Nigeria has also established the creative sector funds, mainly for youth people in technology and entertainment. There is also the new programme called Investing in Digital and Creative Enterprises with over $600 million to support young technology and creative entrepreneurs and other entrepreneurs through the provision of finance, skill development and infrastructure.
“Earlier this year, the Federal Government partnered with UNDP and the private sector to start a programme called the Jubilee Fellow Internship Programme, for the next five years, every year, 20,000 students after youth service, will be given internship opportunity in private sector companies and public agencies. The idea would be for the participants to gain relevant ideas and life skills that will enable them transition seamlessly into a professional business or public sector career while also earning a good pay during the internship. These opportunities exist, make the effort to access them”.