Over 11,000 small and medium scale entrepreneurs in Ekiti State have
applied for loans through the State Government under the N2billion EKSG/Central Bank of Nigeria (CBN), Micro, Small and Medium Enterprises
Development Scheme (MSMES).
The State Commissioner for Commerce Industries and Cooperatives, Hon.
Michael Ayodele who made this known in Ado Ekiti, disclosed that the
biometric data of over 8,080 of the applicants have been captured in
the exercise embarked upon to verify their claims and ensure
disbursement of funds to only authentic entrepreneurs.
According to him, the first tranche of N500million would be disbursed as
soon as the verification process was completed, adding that about 5,000
people would benefit from the tranche.
The Commissioner explained that the scheme was being managed by the
Ekiti State Government/Central Bank of Nigeria/Micro, Small and Medium
Enterprises Development Fund Technical Committee (EKSG/CBN/MSMES) and
would be disbursed through selected Micro-Finance Banks to successful
Appealing to proposed beneficiaries to exercise patience, Hon. Ayodele
stressed the need for a thorough screening of applicants towards
ensuring judicious use and recovery of the fund.