Chief Leke Abejide, Chairman House of Representatives Committee on Customs has commenced the disbursement of interest-free loans to traders Kabba/Bunu/Ijumu federal constituency.
Hon. Leke said the loans are intended to support traders’ businesses, improve socio-economic conditions, and uplift residents in the area.
Providing an interest-free loan to women is borne out of the need for me to help the traders in form of capital to help their businesses.
This is in fulfilment of a promise to set aside an amount to be used as revolving interest free loans to traders.
The lawmaker added that he intends to continue serving the people through initiatives that positively impact their livelihoods.
The lawmaker urged beneficiaries to use the funds responsibly and return the principal promptly to allow other traders access to the loan.
“Mechanism has been set up to monitor the disbursement to traders under the Leke Abejide Foundation.
Presenting the N60m to 31 cooperatives societies, the Director General of the Foundation, Oba Shola Adebola said the Founder placed premium on women, hence his decision to accommodate beneficiaries from the two LGA even when he was from another constituency.
The Leke Abejide Foundation had earlier given N100m interest free loan to members of his immediate Yagba Federal constituency before extending same to the two LGAs in Kabba/Bunu/Ijumu.
"A sum of 60 million naira is here today presented, through 31 co-operative groups to women in Kabba-Bunu and Ijumu local government areas, covering 276 Beneficiaries.
”The interest free loan, 30 million naira per local government, involving 142 women in Kabba-Bunu and 134 in Ijumu, is expected to be paid back within a period of 12 months.”
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