The Commissioner for Wealth Creation and Employment in Ekiti State, Otunba Kayode Fasae, has seek the endorsement of traditional rulers for the forthcoming agency banking scheme set to revolutionize financial access across rural communities.
Governor Biodun Oyebanji’s green light on a N250 million startup loan signals a significant leap forward for Micro, Small, and Medium Enterprises (MSMEs) supported by the Ekiti State Employment Trust Fund (ETF).
Underpinning the initiative is the government’s dedication to strengthening economic growth and job creation, with the ETF poised to offer accessible funding avenues for MSMEs at favorable interest rates.
The proposed agency banking scheme promises to tackle the challenge of limited financial services in rural areas, paving the way for over 1000 new jobs and catalyzing entrepreneurship within grassroots communities.
Partnering with Wema Bank Plc, the government is gearing up to train 20,000 individuals in diverse skill sets, including agribusiness and ICT, ensuring comprehensive coverage across all senatorial districts and empowering successful participants with essential equipment for eighteen months.
Commissioner Fasae urged traditional leaders to not only throw their weight behind the initiative but also mobilize their communities to embrace the online registration process, heralding a new era of financial inclusion and opportunity for Ekiti’s youth.
Chairman of the Ekiti State Council of Traditional Rulers, Oba Ayorinde Ilori Faboro, lauded the initiative, recognizing its potential to tackle unemployment and bridge the gap in financial services, sparing rural residents the ordeal of lengthy and risky journeys for basic banking needs.
