The Abuja Enterprise Agency (AEA) has trained 100 applicants, drawn from the six area councils of Federal Capital Territory (FCT), on cash transfer initiative
The cash transfer is an initiative of World Bank support fund to facilitate recovery of Medium, Small and Micro Enterprises (MSMES), which is under the Federal Capital Territory – COVID-19 Action Recovery and Economic Stimulus unit.
Speaking during the training exercise at the AEA headquarters on Wednesday, the permanent secretary Federal Capital Territory Administration (FCTA) Common Services, Olubunmi Olowookere, noted that the initiative would help the intending beneficiaries understand how to start up businesses and run them.
Olowookere urged the beneficiaries to use the knowledge they would gain from the training and come up with a well designed plan that would help them succeed in their businesses, if the cash is sent to them.
Represented by the acting Chief Executive Officer/Managing Director of the agency, Mr Chudi Ugwuada-Ezirigwe, the permanent secretary added that the training was designed to help beneficiaries understand what the provision of the cash transfer was intended to achieve in FCT.
She explained that the process was careful designed to ensure that the intending beneficiaries understand the intentions of cash transfer initiative and to take them through certain fundamentals entrepreneurship processes, in order to impact certain aspect of knowledge into them, so that they will not see the funds that come their way as funds for enjoyment.
According to her, “Money is not easy to come by now. Some of the applicants came from far places like Abaji, Kuje, Karshi and others. You know how expensive it is to bring yourself here. So you people should be careful to avoid mistakes.
“When the money comes, don’t used it carelessly. The training is to ensure that when the money comes you put it into something that you are doing already that will bring more money. What we are teaching you today is simple. You will know somethings that you don’t know before, but they are necessary for you to know, so that when the money comes into your account you don’t spent it frivolously.
“You don’t put the money under your pillow so that when you spent it and it finishes you will go to another pillow and start collecting. You people must have bank accounts for savings. Don’t joke with your money. Make sure the money is in your bank account.”
Olowookere said proper savings would advance FCT cash transfer unit to give more money for business.
“We don’t work with people without purpose. We work with people that their purpose and destination is clear. This means that more is coming.
“We know the type of FCT minister we have today. He is an action man. If you help us take this training seriously, we will communicate to the minister on what we have done, so that he will see that the money that has been given out is well used.”