#Financial news

Loan: Unemployed graduates applaud Akeredolu

Loan: Unemployed graduates applaud Akeredolu

Stories by Fatima Muraina
Unemployed youths in Ondo State have applauded the Akeredolu led administration for giving  youths  loan so that they could  be self reliant.

The State Co-ordinator of unemployed graduates  and  youth President in the state, Mr Alonge Olanrewaju Sunday gave the commendation in a chat with The Hope in Akure, the Ondo state capital.

Sunday, who also appreciated the Central Bank of Nigeria (CBN) and the Federal Government for the windows of opportunities opened for the youths urged them to make use of the opportunities.

He said youths trained by the government under the National Directorate of Employment (NDE) have obtained a certificate which qualifies them to access any of the windows opened for the youth.

Sunday said the  loan for such graduate trainees ranges between one million naira and  N10million which has seven years repayment period with only five percent  interest rate.

According to him, an official from the CBN, Mr Olumide Aina at the programme decleared that “Youths will have to be trained by any Government agencies like the NDE and SMEDAN and obtain  certificates as  requirements to obtained the  CBN loan.

The certificate, Sunday stressed would be presented to CBN to begin the process of accessing the loan which he said is packaged by all banks that  donated five percent  of their profits to boost Small and Medium Enterprises (SME) in Nigeria.

He stressed that a form would later be given by the CBN to be filled by prospective beneficiaries and submitted  for confirmation by the bank official for  assessment.


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