Paseda Gives N10m Interest-Free Loan to Ogun Traders

September 24, 2017
Paseda Gives N10m Interest-Free Loan to Ogun Traders

By Modupe Gbadeyanka

Founder of Paseda Legacy Foundation, Otunba Rotimi Paseda, has concluded plans to assist petty traders in Ogun State with N10 million interest free loan.

The funding pack would be disbursed to beneficiaries through his foundation’s women wing, Paseda Women Forum.

Speaking on the development, President of Paseda Women Forum, Mrs Olayemi Layeni, stated that the disbursement will commenced on Monday, September 25, 2017 (tomorrow) and would be given to small-scale business owners who have completed their registration with the forum, irrespective of the political affiliation.

Mrs Layeni, while further speaking on Friday at Paseda Legacy Foundation Office located in Onikolobo, Abeokuta, the statement capital, emphasized that only registered members would be considered for the first phase of the loan, urging all prospective beneficiaries to register with their ward co-ordinators in all the local government areas of the State.

She however stressed that the loan would be given on merit to qualified applicants, enjoining all beneficiaries not to see the gesture as part of their “national cake”.

Mrs Layeni noted that the loan scheme has been designed for easy repayment. As a result, all beneficiaries must act within the confines of the terms and conditions, to allow other beneficiaries benefit from the scheme.

She explained that the loan empowerment was organized to lessen the burden of the economic downturn on women petty traders in Ogun State, believing facilitating, assisting and further developing the small scale petty trading businesses, is the way forward.

“As long as you are a member of PWF in Ogun State, you are qualified to apply for the loan, irrespective of your political party, religion etc and as long as the applicant is ready to return the loan within the stipulated ease period in order to allow other beneficiaries to partake in the programme.

“All non-members of the forum can also benefit from this empowerment. All they have to do is to register as member at any PWF ward in Ogun State, and once you’re a member you’re eligible to request for this loan.

“Both new and old members of this forum would benefit from this assistance which would be administered at Paseda Legacy Foundation office in Abeokuta,” she said.

Mrs Layeni enjoined all members on membership drive to enhance the number of beneficiaries.

Modupe Gbadeyanka

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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