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By Dada Ahmed
(Ilorin)
Kwara State Governor AbdulRahman AbdulRazaq has approved the disbursement of funds to 21,623 to petty traders at interest-free, as micro-finance loans to boost economic activities and enhance self-reliance in the state.
The Reporters, an online publication, gathered that the scheme is a component of the kwara State Social Investment Programme (KWASSIP).
The operations of the first phase of disbursement will last for five weeks according to a statement signed by the Chief Press Secretary to the governor, Rafiu Ajakaye in Ilorin on Thursday.
Ajakaye said the operation of the first phase of disbursement would last for five weeks, adding that the disbursement “comes after months of careful enumeration of the potential beneficiaries of the scheme.”
The governor’s aide qouted the anchor of the programme Mohammed Brimah as saying that beneficiaries cut across the 16 local governments of the state.
Brimah said:”The disbursement of funds to the beneficiaries of Owo Isowo begins today. We are looking at disbursing to 21,623 persons for this phase.
“Due to COVID-19 and the need to maintain social distancing, we will be communicating venues to beneficiaries as we get to each local government.
“Owo Isowo is an interest-free loan of a minimum of N10,000. Beneficiaries are to pay back over six months in bits comfortable to them. It is to support our petty traders in upscaling their businesses.
“The processes began early this year. Some of our activities were affected by the COVID-19 lockdown but we are back on the track with disbursement for petty traders that applied as earlier announced.
“The issue of mixed identities does not arise. We have bankable data to guide us. Whoever was not captured or does not merit the funds cannot be given.”
Braim who said the the disbursement would be made through digitised payments called mobile wallets to the beneficiaries.
