AMUWO ODOFIN L.G.A EMPOWERS THE ACTIVE POOR.
·GETS SUPPORT FROM TINUBU’S FOUNDATION
-AMUWO ODOFIN LOCAL GOVERNMENT INFORMATION UNIT
PRESS RELEASE FRIDAY 3rd February 2012
PRESS RELEASE
About 23 individuals referred to as the economically active poor have received a lifeline from Amuwo Odofin Local Government. The benefits came to the people at the recent flag-off of the Amuwo Odofin Micro Credit Scheme, held at the LG secretariat.
The scheme, which is aimed at providing easy access to soft loan facilities to petty traders, attracts 1.5% interest rate payable over a six months period, and it attracts no collateral.
The scheme is managed by a tripartite agreement to include, Amuwo Odofin LGA, Lagos State government, through its agency, Lagos State Microfinance Institute (LASMI), and a private organization Cowries Microfinance Bank.
Speaking at the occasion, the executive chairman of Amuwo Odofin LGA, Comrade Ayodele Adewale admonished actual and prospective beneficiaries to judiciously manage the funds. In his words, “I wish to inform you that the loan is meant for investing in small businesses that will guarantee your economic/financial independence and freedom.
Hence, I implore you all to ensure you judiciously use these loans to better your lot and not to misappropriate it. History is full of the success stories of great businesses that started small. With determination, commitment, and financial intelligence, you can be added to the list of these success stories.” The local government also got support from the Asiwaju Bola Ahmed Tinubu outreach foundation to take care of widows and other less privileged people. Tinubu's foundation donated 100 bags of rice and 100 gallons of vegetable oil.
While distributing the items to beneficiaries, the council boss thanked His Excellency, Asiwaju Bola Ahmed Tinubu for his magnanimity and kind heart, for deeming it fit to remember the widows and less privileged of our society. According to him this portrays the impeccable nature, and disposition of a great leader. At the end, the people of the community where adviced to take advantage of the ample opportunity presented by the micro credit scheme, as it is indeed a chance to improve their economic lot.
