Phase 1: Oyo Govt, FCMB Roll Out POS Machine to First 20 Beneficiaries

As part of efforts to promote financial inclusion and economic empowerment, the Oyo State Government, through the State Agency for Youth Development in collaboration with First City Monument Bank (FCMB), has officially launched the first phase of its POS Deployment Initiative today.

It could be recalled that, on Monday, June 30th, a stakeholders’ engagement across 33 local governments on POS Machine, soft loans collaboration with FCMB, was held at the conference room, old local government building secretariat, Ibadan. Interested applicants are urged to apply online.

Twenty beneficiaries have received Point-of-Sale (POS) machines to kickstart small-scale retail and agency banking operations within their communities today at the Oyo State Agency for Youth Development, Secretariat, Ibadan.

The initiative, spearheaded by the Oyo State Agency for Youth Development, under the visionary leadership of Hon. Adebowale Adebayo Falana, aims to support youth and women-led businesses by providing tools that enable seamless financial transactions, reduce unemployment, and stimulate local economies.

During the launch event today in Ibadan, Hon. Adebowale applauded the father of the youth in Pacesetter State, His Excellency Engr. Seyi Makinde, for providing the youth to showcase their potential in his democratic legacy of good governance.

He emphasized the importance of public-private partnerships in fostering grassroots development, promoting digital financial inclusion, and supporting the ease of doing business within the state, stressing that Governor Seyi Makinde remains an unmatched blessing to Oyo State.

Speaking further, Adebowale said the initiative aligns with the state’s broader economic agenda to empower entrepreneurs and expand access to digital financial services with a youth-centric ideology.

Also, Mr. Femi Fademi, Southwest marketing, held at FCMB, also reiterated the bank’s commitment to driving inclusive finance through strategic partnerships and community-based programs.

“Our collaboration with the Oyo State Government through the State Agency for Youth Development demonstrates our shared vision of empowering individuals and supporting micro-enterprises across Nigeria”.

Beneficiaries expressed gratitude for the opportunity, noting that the POS machines would not only help them generate income but also bring essential financial services closer to underserved areas.

The distribution marks the beginning of a phased rollout, with more beneficiaries expected to receive POS machines in subsequent stages of the programme once their registration is fully certified.

Beneficiaries were; Adekola Adeniyi, Damilare Idowu, Abass Abdulsamad, Fadeyi kikelomo, Olabiyi Lolade, Folahanmi Opeyemi, Adewumi busari, Adeleke kamaldeen, Afolabi Yinka, Aransi Ganiyat, Akerele Olugbenga, Veronica Akinwale, Aminat Oladeji, Dunmoye Abidogun, Victoria komolafe, Oluwasola Oyabumi, Olusegun Ayodele, Joshua Anjorin, Yaakub Abdulhamed, and Shakirat Yusuf.

E-Signed:
Opeyemi Rasheed Socrates,
Head of Media Unit to the Chairman, Oyo State Agency for Youth Development