11, 000 en­trepreneurs ap­ply for CBN loans in Ek­iti

Daily Trust - - NEWS - From Doyin Ade­busuyi, Ado Ek­iti

Over 11,000 small and medium scale en­trepreneurs in Ek­iti State are said to have ap­plied for loans through the state gov­ern­ment un­der the N2­bil­lion EKSG/Cen­tral Bank of Nige­ria (CBN), Mi­cro, Small and Medium En­ter­prises De­vel­op­ment Scheme (MSMES).

The state Com­mis­sioner for Com­merce In­dus­tries and Co­op­er­a­tives, Michael Ay­o­dele, who made this known in a state­ment in Ado Ek­iti, said the bio­met­ric data of 8,080 of the ap­pli­cants have been cap­tured in the ex­er­cise em­barked upon to ver­ify their claims and en­sure dis­burse­ment of funds to only au­then­tic en­trepreneurs.

He said the first tranche of N500mil­lion would be dis­bursed as soon as the ver­i­fi­ca­tion process is com­pleted, adding that about 5,000 peo­ple would ben­e­fit from the tranche.

The com­mis­sioner said the scheme was be­ing man­aged by the Ek­iti State Gov­ern­ment/Cen­tral Bank of Nige­ria/Mi­cro, Small and Medium En­ter­prises De­vel­op­ment Fund Tech­ni­cal Com­mit­tee (EKSG/CBN/ MSMES) and that funds would be dis­bursed through se­lected mi­cro-fi­nance banks to suc­cess­ful ap­pli­cants. He ap­pealed to pro­posed ben­e­fi­cia­ries to ex­er­cise pa­tience, stress­ing the need for thor­ough screen­ing of ap­pli­cants to­wards en­sur­ing ju­di­cious use and re­cov­ery of the fund.

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