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Borno State Lunches First Interest-Free Loan in Nigeria

Some lives in the northern part of Nigeria have been affected heavily affected by Boko Haram insurgency and the recent COVID-19 pandemic which have led to lost of many lives, businesses and properties. However, some Governors, who have got the interest of their subjects in mind have directly or indirectly put some measures in place to help tackle this hardship.

The Federal Government and International communities have been up and doing to help and support the heavily affected people in the country. However, Borno state Governor; Babagana Umar Zulum has taken a gigantic step by providing a interest- free loan small and medium scale entrepreneurs in the state.

According to the Governor, the loan is targeted to business men and women who have been heavily affected by Boko Haram insurgency and COVID-19 pandemic.

The beneficiaries are mostly women groups, trade unions and associations who are serving as sureties for their members. He added that any person who is able to settle the disbursed amount with the stipulated time shall enjoy 50% waiver and shall automatically qualify for another loan.

He urged the beneficiaries to make good use of the money and that his administration is in talk with the Central Bank of Nigeria [CBN], African Development Bank and the Icanelopment Bank to create more windows of opportunities for small and medium scale farmers in the state

Content created and supplied by: Michaelezeh (via Opera News )

Babagana Umar Zulum Boko Haram Borno State CBN Nigeria

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