Ekiti to give loans through cooperative societies to avoid repayment evasion
The Ekiti State Government on Tuesday said it would soon stop giving loans directly to individual, but through cooperatives.
The News Agency of Nigeria (NAN) reports that the state government said that the step was to ensure proper monitoring and stress-free loan repayment.
The Commissioner for Investment, Trade and Industries, Mr David Olusoga, said this in Ado Ekiti while declaring open a National Executive Council (NEC) meeting of the Institute of Cooperative Professionals of Nigeria (ICOPRON).
Olusoga described the current administration as a progressive government poised to drive the state economy through public-private partnership.
He said that cooperative organisations in the state would be encouraged and mobilised to play active roles in the economic emancipation of the state.
He said that the number of cooperative societies would rise above a thousand at the end of this administration, while support would also be given to them to invest in buildings and enterprises that would be of immense benefits to their members and the society at large.
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The commissioner said that Gov. Kayode Fayemi would
mobilise members of the National Assembly from Ekiti State as well as other All Progressive Congress (APC) members in the National Assembly across the country to facilitate accelerated passage of the bill establishing the institute.
The President of the Institute, Mr Olubunmi Fajobi,
said that the establishment of the Institute of Cooperative Professionals of Nigerians (ICOPRON) was conceived to bring under one umbrella all cooperative bodies including regulators in government and the academia and other stakeholders in the cooperative profession.
Fajobi said that it was high time the professional cooperators came together to fashion out ways to move the profession up like other similar bodies in Nigeria that had been fully rooted.
He said that the state chapter of the institute would be inaugurated
at the on-going NEC meeting in Ado-Ekiti.
Fajobi appealed to the state government to intervene in the speedy passage of the bill establishing the institute, which he said, had been in the National Assembly since the 6th assembly. (NAN)
