Each of the beneficiaries, who were drawn from all the artisan and trade groups, went home with amounts ranging from N20,000 to N50,000.
Speaking at the event which took place at Alesinloye area of Ibadan, Sen Rilwan Adesoji Akanbi, said that for long, even before he became a lawmaker, he had been giving back to the society.
He added that the assistance was not a loan but assistance to the traders whose businesses were currently suffering.
His words: “All I can say for now is for them to use the money for what it is meant for. We would have loved to do more but we’re incapacitated. We will not relent. We know we are there to alleviate the sufferings of our people and not to elevate it. Only recently, works started on the Lagos-Ibadan rail project. I can gladly say I am partly instrumental to the project. This is because we believe that if the railways are given facelift, the roads would heave sigh of relief”
On 7th of AUGUST 2017, Senator Rilwan Adesoji Akanbi invited Bank of Industry & Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) to interact with ASSOCIATIONS and COOPERATIVE SOCIETY within Oyo state on how to access free interest loan, which he’s about to facilitate.
The MOU has been finally put in place and the interested ASSOCIATIONS/COOPERATIVE SOCIETY can go to Senator Rilwan Adesoji Akanbi-IBADAN OFFICE , (Opposite Inalende Customary Court, Inalende Ibadan) to collect a copy of the GUIDELINES & PROCEDURE.
(THE SOFT COPY OF THE GUIDELINES & PROCEDURE)
After due consultation with the Bank of Industry (BOI) and Small and Medium Enterprises Development Agency (SMEDAN) on the free interest revolving loan through the office of Senator Rilwan Adesoji Akanbi, Senator representing Oyo South Senatorial District . The following are required from each Association and Cooperative Society applying for the loan.
APPLICATION PROCEDURE
1.Applications shall be made by market/trade associations on behalf of interested members, stating their details on the prescribed form.
2. Applications shall be forwarded to the office of the Senator representing Oyo South Senatorial District on the letterhead of the Association and must be signed by the President and Secretary of the Association.
ELIGIBILITY: The following shall be eligible for loans under the Fund:
1. Members of a Market/Trade Associations or Cooperatives duly registered with the Corporate Affairs Commission or the Ministry of Industry co-operatives.
2. Cooperative Groups where members own a joint investment in trading business.
3. Association/Cooperative Societies which must be in operation for a minimum of 2 years and must have applied formally on behalf of interested members on its letterhead, stating the amount for each beneficiary and committing to indemnify the Bank in the event of default.
4. Cooperative Groups where members own a joint investment can apply as an entity.
5. Association / Cooperative must have operated a Bank account for a minimum of one year.
REQUIRED DOCUMENTATION FOR LOAN APPLICATION
1. Letter of Application (with attached list of interested members and details).
2. Copy of Certificate of Registration of the Association / Cooperative.
3. Copy of bye-law of the Association / Cooperative.
4. Valid means of identification of Association’s executives (International Passport, Driver License, Permanent Voters Card or National Identify Card).
5. Two (2) passport photographs for each Association’s executive and applicants.
6. BVN of each Association’s executive and members applying.
7. Membership ID card for members of the Association / Cooperatives.
8. Details of the Association / Cooperative’s outstanding liabilities with other banks/individuals.
9. Bank Account Statement of the Association for the last one year.
10.Execution of the relevant Agreements with other Banks.
NB: Please note that all the above requirements and other relevant documents should be submitted to office of Senator Rilwan Adesoji Akanbi, Opposite Inalende Customary Court,Inalende Ibadan, within seven days after collection of this notice.
Signed.