Saturday, July 20, 2024

 

Ecobank Offers Idanre Market Women Easy And Low Interest Loans

Must Read

Ogun Approves Construction Of Additional Five Roads

  The Ogun State Executive Council has approved the construction of five additional roads across the State. Commissioner for Works and...

Ogun State Set to Register Additional 100,000 Farmers Under OGFIMS

    The Ogun State Government has announced plans to register an additional 100,000 farmers under the Ogun State Farmer Information...

Court Orders 9mobile To Pay ,N55bn Debt To Keystone Bank

  A Federal High Court, sitting in Lagos presided over by Justice Yelin Bogoro has ordered Teleology Nigeria Limited, owners...

 

Ecobank Nigeria has extended easy and low interest loans to market women in Idanre, Ondo State through its Ecobank Female Entrepreneurship Initiative (EFEI), to boost and expand their trading activities.
Unveiling the scheme at Owa’s Palace, Idanre, Head of Classic Banking, Ecobank Nigeria, Femi Ogundairo, said the Ecobank Female Entrepreneurs’ Initiative loan was specially designed by the bank to financially empower female business owners and entrepreneurs in the country, adding that it was a further demonstration of the importance the bank attaches to the role of women in sustainable development and contribution to the society and nation’s economy.
According to him, “the beneficiaries, who are expected to be women, will be given the sum of N50,000.00 which will be repaid in six months at a monthly installment of N8,500.00 which represents 1 per cent interest rate. There are no hidden charges for the loans and beneficiaries who pay back regularly and on time may be rewarded and given higher loan facilities.”

He added that under EFEI, “the bank will also organise regular free training programmes for the women on how to do their businesses better and manage their money and loans well.”

Ogundairo also used the opportunity to introduce the bank’s agency banking also known as Xpress Point to the people, saying they offer on behalf of the bank some services such as account opening, cash deposit and withdrawal, loan disbursement, fund transfer, bills payment, airtime recharge among others. He noted that agency banking would give the teeming unemployed Idanre youths employment opportunities which could subsequently make them not only gainfully employed but ultimately employers of labour.

Speaking at the event, Owa of Idanre Kingdom and Paramount ruler of Idanre Land, His Imperial Majesty, Oba (Dr.) Frederick Adegunle Aroloye, Arubiefin IV, (JP) OFR, lauded the decision of the bank to assist market women in the town, stressing that ‘since the bank’s mission’s borders on development and progress of the people, the palace will be ready to give it available and necessary supports to ensure it succeeds in Idanre Land.’

In her comment at the event, Iyaloja General of Idanre Land and Vice President of Iyalojas and Babalojas of Nigeria, Princess Nike Aroloye Akingboye, thanked the bank for offering assistance to the market women in Idanre town to develop their trading business, assuring that ‘Idanre market women are credible people who would utilize the loans well and perform all necessary roles expected from the bank promptly.’

Many potential beneficiaries have started applying for the loan facility. While commending Ecobank for the assistance submitted that the loan will help them improve their businesses.

- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -
Latest News

Ogun Approves Construction Of Additional Five Roads

  The Ogun State Executive Council has approved the construction of five additional roads across the State. Commissioner for Works and...

Ogun State Set to Register Additional 100,000 Farmers Under OGFIMS

    The Ogun State Government has announced plans to register an additional 100,000 farmers under the Ogun State Farmer Information Management System (OGFIMS), bringing the...

Court Orders 9mobile To Pay ,N55bn Debt To Keystone Bank

  A Federal High Court, sitting in Lagos presided over by Justice Yelin Bogoro has ordered Teleology Nigeria Limited, owners of 9Mobile Network, to pay...

Osunbiyi Alagbo Onilewaji Family Warns Against Trespassing On Land …Says court judgement fully executed 

Consequent upon the judgement of a Lagos state High Court,Epe division presided over by Justice S.A Olaitan, the Osunbiyi Alagbo Onilewaji Family of ibeju...

Dangote Group Targets $30bn Revenue To Strengthen Naira

The President of Dangote Group, Aliko Dangote, has said that his businesses’ $30bn revenue target by the end of 2025 will boost the naira. Dangote...
- Advertisement -

More Articles Like This

- Advertisement -