P
ProfRem
Guest
President Muhammadu Buhari-led federal government has approved the disbursement of a ‘no-interest loan’ to 23,400 beneficiaries in 13 states including the Federal Capital Territory, FCT.
This was made in a statement, signed and issued by spokesperson to the acting President, Laolu Akande on Monday.
The loan which ranged from N10,000 to N100,000 per applicant would be paid directly to the beneficiaries.
Stressing that beneficiaries must belong to registered associations or co-operatives, Akande said this was “to ensure that they are peer-endorsed as credible.”
He said over one million people had enrolled for the micro-credit scheme across the nation and added that they would all benefit this year.
Mr Akande said: “the “no-interest” micro-credit scheme, with “only a one-time five percent administrative fee is targeted at traders, artisans, market men and women, entrepreneurs and farmers.”
This was made in a statement, signed and issued by spokesperson to the acting President, Laolu Akande on Monday.
The loan which ranged from N10,000 to N100,000 per applicant would be paid directly to the beneficiaries.
Stressing that beneficiaries must belong to registered associations or co-operatives, Akande said this was “to ensure that they are peer-endorsed as credible.”
He said over one million people had enrolled for the micro-credit scheme across the nation and added that they would all benefit this year.
Mr Akande said: “the “no-interest” micro-credit scheme, with “only a one-time five percent administrative fee is targeted at traders, artisans, market men and women, entrepreneurs and farmers.”