According to the Ekiti State administration, the proposed agency banking scheme will give the state’s grassroots citizens access to entrepreneurial opportunities and generate over 1,000 direct and indirect jobs.
The state’s traditional rulers, according to Otunba Kayode Fasae, the commissioner for wealth creation and employment, have a crucial role to play in guaranteeing the success of the program, which is set to launch in the near future.
Speaking at an advocacy visit to the State Council of the Traditional Rulers in Ado Ekiti, Fasae stated that the current administration was deeply committed to the welfare and advancement of the populace, particularly in terms of employment creation.
Under the Ekiti State Employment Trust Fund (ETF), Governor Biodun Oyebanji has approved a N250 million starting loan to help Micro, Small, and Medium-Sized Enterprises (MSMEs).
The commissioner went on to say that the Employment Trust Fund will support MSMEs in Ekiti with low interest payback rates once it started operating.
According to him, the planned agency banking scheme will significantly address the issue of rural residents’ limited access to financial services and foster the expansion of small and medium-sized businesses (SMEs) in the state’s rural districts.
According to Fasae, his ministry will start gathering data on the program’s target beneficiaries next week. He also added that the government would provide an atmosphere that would support the scheme’s safe and efficient operations, while the participating banks would finance it.
The commissioner disclosed that the government and Wema Bank Plc are working together to train over 20,000 individuals between the ages of 18 and 50 in a variety of skills and careers, including information and communication technology (ICT) and farming.