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Abia unveils 1 billion naira interest-free business loan

The Abia State Authorities is ready to launch on Thursday a N1 billion interest-free revolving credit score programme for 9,200 residents throughout 184 wards within the state.

The Commissioner for Info and Tradition, Prince Okey Kanu, made this identified on Monday throughout a press convention on the result of the Government Council assembly chaired by Governor Alex Otti.

He stated the 50 beneficiaries can be chosen from every political ward within the state, including that the programme, an interventionist and empowerment programme, would assist the beneficiaries and develop the economic system.

“Governor Alex Otti will on Thursday, July 11, formally launch the disbursement of interest-free revolving loans to Abians via the Abia State Co-operative and Assist Schemes.

“That is geared toward supporting micro-enterprises working within the state. It’s an interventionist programme that can act as an empowerment for the beneficiaries.

“To make sure equal distribution throughout the state, 50 beneficiaries have been recruited from 184 political wards within the state.

“The quick, medium and long-term results of this system can have constructive results on the state economic system and can assist alleviate the difficulties confronted by individuals of their companies because of the financial downturn within the nation,” he stated.

Kanu famous with dismay that vandalism of public faculties and properties within the state was rising.

He careworn that such types of vandalism should cease and urged presidents basic, union leaders and different stakeholders to take accountability for the general public faculties of their communities.

He additionally stated that the ban on road buying and selling and unlawful parking in Aba and Umuahia would quickly be enforced. He suggested those that had been engaged in such actions to desist instantly.

The Commissioner for Native Authorities and Chieftaincy, Uzor Nwachukwu, stated the federal government had proven understanding and put a human face in enforcement and would act accordingly.

The Commissioner for Finance, Mr Mike Akpara, has denied the hearsay that he was taking 10 million naira a month from the state coffers.

He stated neither he nor different officers of the state authorities are taking 10 million naira from the state treasury, as he dismissed such rumours as baseless.

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