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…….As Governor Oyebanji approves
N250 million as start up loan to support Micro, Small and Medium Enterprises under the Ekiti State Employment Trust Fund

Commisioner Fasae addressing Members of the Ekiti State Council of Traditional Rulers during the Advocacy Visit

The Ekiti State Commissioner for Wealth Creation and Employment, Otunba Kayode Fasae has said that traditional rulers in the State have important roles to play in ensuring the success of proposed agency banking scheme which will soon become operational in the State.

Otunba Fasae made the assertion during an advocacy visit to the State Council of the Traditional Rulers in Ado Ekiti.

This is coming on the heels of Governor Biodun Oyebanji’s approval of a sum of N250million as start up loan to support Micro, Small and Medium Enterprises ( MSMEs) in the State under the Ekiti State Employment Trust Fund ( ETF).

Otunba Fasae who said that the present administration was passionate about the wellbeing and the growth of the people in terms of job creation, said when the Employment Trust Fund becomes operational, it would provide funding support to Micro, Small and Medium Enterprises ( MSMEs) for Ekiti people at a low interest repayment rate.

He noted that the proposed Agency Banking scheme would greatly solve the problem of limited access to financial services in the rural areas and create over 1000 direct and indirect jobs ,provide entrepreneurial opportunities for the people at the grassroots as well as engender the growth of small and medium enterprises ( SMEs) in the rural areas of the State.

He said his Ministry would commence
Data collation of intending beneficiaries next week adding that the scheme would be funded by the partnering banks, while the Government will provide a conducive environment for its safe and smooth operations.

The Commissioner revealed that the government is collaborating with Wema Bank Plc in training about 20,000 participants between the ages of 18 and 50 years old in different skills and vocations like agribusiness, Information and Communication Technology (ICT) among others.

He affirmed that the programme would cover all the Local Government Areas (LGAs) and Local Council Development Areas (LCDAs) of the three senatorial districts, and that successful participants would be empowered with equipment to work, stressing that the beneficiaries would be guided for eighteen months

Otunba Fasae urged royal fathers not only to support the scheme but also mobilize their subjects to come out en-masse and register on- line for the scheme.

In his remarks, the Chairman of the Ekiti State Council of Traditional Rulers, the Olojudo of Ido Ekiti, HRM, Oba Ayorinde Ilori Faboro said that the initiative is a welcome development adding that the programme would create employment opportunities for Ekiti youths and effectively solve the problem of lack of effective access to financial services faced by many rural communities in the state which is forcing residents to undertake risky and preventable long journeys to carry out basic banking transactions such as cash withdrawals or deposits.

Posted in Ekiti State News Bulletin
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