BOI To Promote Enterprise In Ekiti With N1bn Loan

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Bank Industry has expressed bank’ readiness to provide credit facilities to tune one billion naira to empower entrepreneurs in Ekiti State.

BOI Manager (Ondo and Ekiti states), Mr Seyi Ashaolu, said bank ready to give loans worth N1 billion to individuals with excellent enterprise, noting that bank interested in areas “health, hospitality and ”.

A statement from the Office Ekiti State Commissioner for and Industries made available to on Sunday stated that the BOI manager made the disclosure in Ado Ekiti, the Ekiti State capital, during a visit to the Commissioner for , Muyiwa Olumilua.

According to the statement titled, ‘Industrial development: Ekiti entrepreneurs to get BOI’ N1b loan’, Ashaolu reiterated the bank’ readiness “to collaborate with the Ministry and actualize the vision of Ekiti State Government to raise young entrepreneurs by providing development loans for them”.

He, however, urged the commissioner “to come up with modalities for recovering previous unpaid loans that were accessed by some entrepreneurs in the state”.

The commissioner, Olumilua, lauded BOI for reviving its partnership with the state government the Ministry of and Industry, assured, “Government will provide the logistics to enable entrepreneurs access the loans”.

He frowned on the default by some previous beneficiaries in repayment of the loans, saying, “Subsequent loans will be disbursed cooperative societies so that will be easier for government to recover the funds.