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

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He also explained in the letter that the N50bn bond was not a fresh loan, but added that the money would be withdrawn from the N100bn bond earlier approved by the House.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