BOI sensitises groups on access to fund in Yobe

The Bank of Industry, through the Federal Government’s Enterprise and Empowerment programme has sensitised 60,000 associations of small scale business groups on ways to access loans to expand their businesses in Yobe State.

The associations include market women and traders, enterprising youths, artisans, small scale farmers and agric workers that are registered.

Speaking at a one-day workshop organised by the BOI, yesterday, in Damaturu, the lead consultant of the Bank of Industry, Inusa Ibrahim, said the programme was a special intervention put in place by the Federal Government to improve business capital of the beneficiaries in the state.

He said the workshop would make the participants aware of the requirements and procedures needed for accessing the loans to improve their businesses.

“The loan is meant for people that are already into small scale businesses, not those that will collect the money and start business afresh.

“We need traders that would add the money to their existing businesses. Those who will repay the loan with ease,” he added.

Ibrahim also revealed that more than 60,000 associations have declared interest in the loan but that the programme would only accommodate those that fulfilled terms and condition laid down by the institution.