A non-governmental organization in Osun state , the Ifesowapo (AYIWOLA) Cooperative society also called IleriOluwa Cooperators, has disclosed plans to launch an interest-free loan scheme that will serve as a platform to empower over 200,000 residents of Ayedire, Iwo and Ola-Oluwa Local Governments , Osun state.
This gesture of goodwill is aimed at stimulating the economy, tackling the scourge of poverty, unemployment and galvanizing commercial activities at the grassroots level through the provision of interest-free loans to the people to start new businesses or strengthen the existing ones.
The President, Ifesowapo Ayiwola Cooperative society, Mr. Anthony Owolabi, disclosed this during the press conference organized by the NGO in Osogbo on Thursday which was attended by journalists including Team@orientactualmags.com .
Owolabi noted that the initiative was conceptualized to rekindle people’s hopes and revive moribund businesses at the grassroots level in the state.
He also said the disbursement of the funds would commence next week.
‘We are giving out N500million and within our catchment area, that is Ayedire, Iwo and Ola-Oluwa Local Governments popularly referred to as AYIWOLA. This would be officially launched next week Tuesday at Iwo City Hall under Asiwaju Khamis Tunde Badmus’ Chairmanship while Oba AbdulRasheed Akanbi Telu I, the Oluwo of Iwo will be the Chief Host’ Owolabi said.
He added that the Cooperative Society has appointed project coordinators for each of the existing 301 political units and 35 wards as well as local government chairmen to supervise the project so as to enhance its efficiency and effectiveness.
In his short remarks, the project Chairman for Ayedire Local Government Area, Alhaji Azeez Oyesiji enjoined interested subscribers to the scheme to use the funds for the intended purpose .
‘This project is a certificated programme registered under the law of the state, hence the need for whoever that may benefit from it to respect the rules and regulations.
When you borrow, you are expected to pay back within 10 months . When you pay earlier than expected or promptly, you stand to enjoy some benefits’ Oyesiji submitted-Team@orientactualmags.com
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