Ekiti Government begin disbursement of N1 billion MSMEs loan

Agency ReporterOctober 19, 2017

0 2 minutes read

Ekiti State Governor, Mr. Ayodele Fayose has charged beneficiaries of N1billion EKSG/CBN Micro, Small and Medium Enterprises loan to ensure impact of the fund is felt on the state’s economy by making sure the loan is used for purposes for which it was obtained.

Governor Fayose said this while addressing beneficiaries during flag off of second phase disbursement of EKSG/CBN/MSMES development fund at Lady Jibowu Hall of the government house on Thursday.

The governor who was represented by his Finance Commisioner, Chief Toyin Ojo at the event said members of the monitoring committee will be on ground to monitor compliance.

In his opening address, the Commissioner for Commerce, Hon. Michael Ayodele appreciated governor Fayose for his commitment to rapid development of the State, saying “Fayose’s unflinching support for economic independence for the average citizens will transform lives of the 5636 beneficiaries”.

Ayodele who said BVN of participants and that of their guarantors will be verified before payment is made called on beneficiaries to make proper use of the fund as a task force will be constituted soonest to ensure repayment.

Chairman of Micro finance banks in Ekiti State, Mr. Toyin Famoroti thanked the governor for his effort at alleviating poverty in Ekiti State saying the injection of N1b into Ekiti economy will impact positively on the state. He charged beneficiaries to make available their BVN and credit history as these are the conditions that guarantees release of the fund.

Eze Ndi’gbo of Ekiti State, Mr. Nathaniel Uzoma appreciated the governor for extending the olive branch to Igbos in the disbursement not minding that they are non indigenes in Ekiti. Mr. Uzoma assured of Igbo’s continuous support for the Ayodele Fayose administration even as they will ensure repayment and judicious use of the loan.

Leader of other groups, including Public Relations Officer of the Hausa Community in Ekiti State, Mr. Musa Ahmed thanked governor Fayose for the recognition given the Hausa traders. They promised to make judicious use of the money even as they continue to work for the success of Fayose administration.

Present at the event was the honourable Commissioner for Environment, Otunba Bisi Kolawole, Commissioner for Public Utilities and Water Resources, Aremo Docky Ogunleye, Special Adviser to the Governor on Economic Matters, Hon. Folu Oguntoyinbo amongst other dignitaries.