Connect with us

Banking

2,000 persons benefit from CBN COVID-19 loan in S’East, S’South, says facilitator

Published

on

2,000 persons benefit from CBN COVID-19 loan in S’East, S’South, says facilitator

Mr Isaac Nkole, the National Chairman, Isun Multipurpose Cooperative Society, Umuahia, which facilitates the disbursement of CBN COVID-19 loan in the South-East and South-South, said at least 2,000 persons had so far benefited from the facility.
Nkole stated this in a statement made available to the News Agency of Nigeria in Umuahia on Tuesday.
He further stated that the facility had provided succour to benefiting small and medium enterprises (SMEs) and households in the two zones.
According to him, the loan has helped a number of households and SMEs to remain afloat, in spite of the harsh impact of COVID-19 pandemic.
“This is the first time poor masses in Nigeria are getting interest-free federal loans without stress.
“It is amazing and it has restored the hope of many homes today,” Nkole said,
He said that each beneficiary in the household category got about N500,000 repayable after three years.
He advised the beneficiaries to invest the money wisely, in order to grow their businesses and economy, saying that “this is a loan and not grant”.
Nkole further spoke on the gains of the Federal Government’s N-Power programme in poverty reduction and youth employment vis-a-vis the plan to disengage the beneficiaries.
He said that the initiative had justified its existence and should be strengthened for greater achievements rather than discontinuing with the programme.
He said, “N-Power has made tremendous impact in some key sectors of the economy, like agriculture and education.”
He said that the programme had brought significant improvement in the education sector with the deployment of university graduates to teach in the primary school system.
He said that the development had engendered quality primary education, especially in rural communities.
Nkole said: “The introduction of N-Power stands out as one of the best policies of the Federal Government under President Muhammadu Buhari.
“A lot of graduates have been gainfully engaged through the scheme. Some of them are in N-Teach, N-Agro, N-Tax and N-build.
He argued that discontinuing with the programme would be counterproductive, saying, “it will be like killing the bird that lays the golden egg.


NAN reports that the federal government had announced that the process of engaging the batch C of N-Power volunteer would begin on June 26, with the opening of the engagement portal at noon.

It also announced that those in batch A, engaged since 2016 and their counterparts in batch B, engaged in 2018 would exit the scheme on June 30, and July 31, respectively.

Edited By: Donald Ugwu (NAN)

Sam Oditah: is a graduate and a professionally trained journalist, with experience in national news reporting/editing and verification at the News Agency of Nigeria. NNN is a Nigerian online news portal that publishes breaking news in Nigeria, and across the world. Our journalists are honest, fair, accurate, thorough and courageous in gathering, reporting and interpreting news in the best interest of the public, because truth is the cornerstone of journalism and they strive diligently to ascertain the truth in every news report. Contact: editor[at]nnn.com.ng

Tanker drivers start strike Monday as talks with LASG end in deadlock NCDC confirms 437 new COVID-19 case, total of infection hits 46,577 Apapa will open to traffic in October — LASG Halep to decide on United States Open after Prague event Gov. Fayemi mourns ex-Ekiti lawmaker, Fakiyesi Vettel says Ferrari messed up with nonsensical strategy Ekiti Govt paying lip service to healthcare delivery, say striking doctors Resumption: Academy wants COVID-19 protocol funds released directly to schools Willian confirms exit from Chelsea after 7 years Anglican Bishop urges govts to save SMEs from collapse For Europe’s “super clubs”, UEFA Champions League determines all YYA sues for peace in Ondo Assembly, condoles with Ogun over Kashamu Ilorin communities appeal to Gov. AbdulRazaq over damaged culvert NPFL 2019/2020 season: Rivers United still insisting they finished second, not third Imo Assembly restates commitment to local production through effective legislation CAN President urges FG to overhaul security apparatus  Osun: Police dismiss inspector for allegedly brutalising tailor, causing death Nimet predicts cloudy, thundery weather activities Monday to Wednesday Sanwo-Olu gives hospital’s management 7-day ultimatum to remove trucks, containers FG supports Imo farmers with 20,000 cocoa seedlings, other improved seeds COVID-19: Low attendance, strict compliance greet church re-opening in Lagos Ex-Rep wants Obaseki impeached over alleged breach of constitution NMA charges state branches to uphold values to protect members Unknown assailants kill Gov. Obiano’s aide on security DG APC Governors Forum tasks membership on participation, registration  Banditry: Monarch urges govt. to adopt new strategies Cleric tasks worshipers on COVID-19 guidelines as church services resume Kwara records 7 new cases of COVID-19 Beauty queen pledges to showcase cultural heritage of Northern Nigeria Zamfara agency sensitises communities on World Bank projects maintenance, sustainability Don’t smoke away your babies, Gynaecologist warns PDP BOT Chairman seeks conduct of LG election by INEC Community policing: FCT minister advocates involvement of council chairmen, traditional rulers Former Police boss blames security challenges on corruption, bad governance Southern Kaduna attacks: Coalition tasks locals on credible information to military Delta communities want FG to revive abandoned projects Dabiri-Erewa says Dapo William’s death great loss to Nigeria Rev Okoye urges Nigerians to return to God, shun tribalism, other vices Commission pledges to eradicate illiteracy, poverty in North-East FG, ECOWAS to host biodiversity consultation on environmental protection Journalists Forum uncovers Nigerians in critical situation in Saudi Arabia NOA urges collaboration of traditional leaders in fight against COVID-19 APC in UK pays tributes to late Dapo Williams Ekiti Govt distributes protective materials ahead Monday’s school reopening Kogi govt extends schools’ fumigation to Eastern Senatorial district Buhari mourns UK-based Nigerian, Dapo Williams COVID-19: Mosques in Ekiti ready for reopening – NSCIA COVID-19: Churches in Lagos  reopen, record  low turn out after 20 weeks of lockdown Church re-opening: Cleric wants leaders ensure compliance with COVID-19 guidelines FCTA pledges support to Suleja smart city project