Ondo Govt. urges beneficiaries of loan scheme to pay back

Akure, Dec. 12, 2013 (NAN) The Ondo State Government on Thursday appealed to the beneficiaries of its micro credit facility to ensure prompt settlement of the loans granted to them.
Mrs Banke Sutton, the Chairperson of the State Micro Credit Agency (OSMA), made the call in an interview with the News Agency of Nigeria (NAN) on the sideline of a meeting with artisans in Akure.
The agency is saddled with the responsibility of granting loans up to N20 million to those interested in setting up small scale businesses.
Sutton, however, regretted that some beneficiaries were reluctant and slow in paying back the loans.
``One of the major issues discussed at the meeting was on the repayment of loans by some reluctant groups.
``Payment of loans disbursed by this agency are not forthcoming as being expected. Although some reasons were given for the delay, we still appeal to them to avoid taking harsh measures against defaulters.
``They should be reminded that we have the authority to take over collateral of any defaulter," she said.
The chairperson said the agency would provide more loans to groups that made 100 per cent repayments.
``We have given our promise to those who settled their loans that they will get more,'' she said. (NAN)

loading...