<<< By Tahav Agerzua >>>
Benue State Governor, Samuel Ortom, today witnessed the signing of a N2 billion Memorandum of Understanding between the state government and the Bank of Industry at the Benue Peoples House.
The Acting Managing Director of the bank, Mr Waheed Olagunju, and the Executive Director and Company Secretary, Mr Tobin Jonathan, signed for the bank while the Acting Secretary to the Benue State Government, Dr Bem Meladu, and Commissioner for Industry, Trade and Investment, Dr Tersoo Kpelai, initialled for the state.
The parties agreed to contribute a marching fund of N2 billion.
The fund is to facilitate the promotion and setting up of micro, small and medium scale enterprises in the state with each of the parties contributing N1 billion.
According to the terms of the agreement, the funds so raised will be utilised to provide term and working capital loans as well as leasing of industrial and business equipment to indigenous entrepreneurs.
The document stated that the security for the loans granted shall be in accordance with the bank’s standards and the requirements of the Central Bank of Nigeria.
It said public awareness about the existence of the fund shall be created through various media platforms.
In his remarks, the Acting Managing Director, Mr Olagunju, stated that the agreement will work because of Governor Ortom’s experience in such matters, trustworthiness and commitment to the empowerment of the people of the state.
Governor Ortom who stated that the bank had the capacity to positively transform the economic fortunes of the country described Mr Olagunju as a round peg in a round hole and appealed to the President to confirm his appointment.
The Governor who donated office accommodation to the bank urged indigenes to maximise use of opportunities made available by the financial institution.