The Oyo State government, through the State Agency for Youth Development, has demonstrated its commitment to youth empowerment with a progressive Partnership with First City Monument Bank (FCMB) to launch a POS machine empowerment and soft loans for the youth across the 33 local governments in the State.
A stakeholders meeting on collaboration between the Agency for Youth Development (AYD) and FCMB Bank was held today at the Conference room, Old Local Government Building, Secretariat, Ibadan.
In his opening remarks, the Chairman of Oyo State Agency for Youth Development, Hon. Adebowale Adebayo Falana, applauded His Excellency Engr. Seyi Makinde FNSE, DSc, GSSRS for the opportunity given to the youth to showcase their potential in his administration.
Adebowale stressed the importance of the stakeholders meeting to make them aware of the approval of His Excellency Engr Seyi Makinde to empower young entrepreneurs in various Ward across the 33 local government areas, on POS machines with soft loans of 200,000 to boost their businesses.
According to him; “today, we call for a stakeholders meeting to understand the modalities of the empowerment and enlighten the clusters of different youth wings, ARSOYOC, NYCN, PROTAAN, Entertainment, and other stakeholders on the current empowerment approved by His Excellency Engr Seyi Makinde for the youth in the State as well as to witness the Memorandum of understanding scheduled to be signed today for the kickoff of the empowement programme.
He said the empowerment is expected to cut across the 14 federal Constituencies and three Senatorial districts in Oyo State. It’s for those who are serious-minded, focused, and versatile entrepreneurs with a CAC certificate as the requirements for the POS machine and soft loans.
Adebowale, however, explained the agency’s partnership with SMEDAN, OYSIPA, and OYSADA to boost youth development and entrepreneurship by having access to grants, soft loans, and other benefits. He acknowledged the partnership with SMEDAN Oyo State manager, Mrs. Ojigbede Iyabo Mabel on the registration of 5,000 entrepreneurs in MSMEs.
In his brief on free POS and Agent loan, Mr. Femi Fademi, Southwest marketing, held FCMB, said it’s a great privilege to make POS machines and soft loans a reality through the agency for Youth Development.
He explained to the stakeholders, the processes involved in getting the free POS, stressing that each beneficiary must have a CAC certificate and open an account with FCMB.
Fademi said, each beneficiary must have a CAC as one of the requirements for POS operators by the Central Bank of Nigeria (CBN). He equally noted that a minimum of 200,000 naira soft loans of 9% interest will be given to each beneficiary after three months of consistent transactions on their various POS machine.
According to him, the criteria for documentation are: NIN, 2 passport photographs, CAC, BVN, Guarantor (level 10 upward), and each beneficiary’s guarantor’s passport.
He stressed further that the agency for Youth Development isn’t liable for any defaulters while urging each beneficiary to be reliable, transparent, diligent, and be a good ambassador to Oyo State.
In his contributions, the Senior Special Assistant to the Governor on Students Affairs, Hon. Olojede Victor Dideoluwa, commended the Oyo State Agency for Youth Development Chairman and the FCMB for the sustainable development legacy of His Excellency Engr. Seyi Makinde.
He assured that the partnership is expected to have a positive impact on the lives of young people in Oyo State, providing them with the necessary skills and resources to contribute to the state’s economic growth and development.
The meeting marked the beginning of a collaborative effort between the Oyo State government, FCMB, and stakeholders to empower the youth in the State.
With the signing of the Memorandum of Understanding today, each stakeholder is eager for support from the State government for young entrepreneurs to thrive in Oyo State.
In attendance are; Fatimah Abdulazeez, Olufemi fademi, Okedele olasunkami, Olaleke Benedict Oyewumi festus, ayomide
Farayola Nurudeen,
Oladepo Ayodeji, akande
Adeyemo, akinade Davis,
Abiola Sunday, Hon Alarope Kabiru, Bolanle oladeji, Adetunji sikiru, Abidemi, Seyi ilori, Ishola iyabode olajumoke, Aleem Mariam olaide, Oluwagbmiga Mercy, Mrs Awokitan O.A, Mrs Aderigibe Alabi Olayemi, Mrs Odeyale f.f, Fadeyi Rotimi, Idowu J.D, Mrs Salaudeen M.O, Badiru afeez kunle, Oyasogo olumuyiwa, Oladejo O. Muiywa , Dayo Adebisi,
Ayobami Adeyemi, Tella olayinka Moses.
Others are; Odelas Oluwaseyi, Adeyemi bukola A., Oluwatosin odita, Comr kasamu O. and several others.
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