BoA pledges to sup­port co­op­er­a­tive agency on loan scheme As­sem­bly ap­proves N50bn Rivers’ bond

Daily Trust - - BUSINESS / NEWS - By Olayemi R. Ibrahim From Vic­tor Edozie, Port Har­court

The Bank of Agri­cul­ture (BoA) has pledged to sup­port the Na­tional Co­op­er­a­tive Fi­nanc­ing Agency (CFA) of Nigeria on co­op­er­a­tive loan schemes geared to­wards em­ploy­ment gen­er­a­tion and wealth cre­ation.

The man­ag­ing di­rec­tor of BoA, Mo­hammed San­tu­raki, said this while mak­ing a pre­sen­ta­tion on “Tak­ing co­op­er­a­tive ser­vices to the grass­roots us­ing fi­nan­cial in­clu­sion” at a three-day Co-op­er­a­tives Sum­mit and Lead­er­ship Fo­rum held in Abuja.

Rep­re­sented by Ladi Akor, a se­nior man­ager, the man­ag­ing di­rec­tor said the bank would ren­der sup­port to all ac­tiv­i­ties geared to­wards the bet­ter­ment of the lives of the poor in Nigeria.

“The door of our bank is open to co­op­er­a­tive loan schemes that are geared to­wards em­ploy­ment gen­er­a­tion and wealth cre­ation. This is be­cause we want to as­sist in im­prov­ing the lives and stan­dard of liv­ing of Nige­ri­ans, par­tic­u­larly the less priv­i­leged in the so­ci­ety.

“We are de­ter­mined to re­duce poverty and un­em­ploy­ment to sup­port liveli­hood and eco­nomic em­pow­er­ment through the de­liv­ery of credit,” he said

San­tu­raki said the bank col­lab­o­rates with states and lo­cal gov­ern­ments with mi­cro credit for en­ter­prise de­vel­op­ment as its way of reach­ing the grass­roots. The Rivers State House of As­sem­bly yes­ter­day ap­proved the sum of N50bn bond re­quested by the state gover­nor, Chibuike Amaechi.

Gover­nor Amaechi had writ­ten to the House re­quest­ing an ap­proval for the money to en­able the state govern­ment com­plete on­go­ing projects in the state.

He also ex­plained in the let­ter that the N50bn bond was not a fresh loan, but added that the money would be with­drawn from the N100bn bond ear­lier ap­proved by the House.

He also in­formed the House that the bond would be ac­cessed from Ac­cess and Zenith banks as a bridg­ing fa­cil­ity for cur­rent projects in the state.

In his con­tri­bu­tion, Deputy Speaker of the House, Leyii Kwa­nee, said that the ex­ec­u­tive pro­posal had their sup­port.

Newspapers in English

Newspapers from Nigeria

© PressReader. All rights reserved.