The Deputy Minority leader, House of representatives, Rt. Hon. Toby Okechukwu has aided the propagation of the obtainment of the Nisera loan From the Central bank of Nigeria, for his constituents.

The loan, UGAMATV gathered is a single digit interest loan facility availed by the Central Bank of Nigeria as a means of support to families and businesses affected by the Covid-19 pandemic.

Having a minimum and maximum moratorium of three months and one year respectively, the loan facility is aimed at proffering a platform for Nigerians to garner funds for specific entrepreneurial ventures as presented in a well-detailed business plan.

The loan range is from One hundred thousand Naira (#100,000) to Two million, Five hundred thousand Naira only (#2,500,000).

The Lawmaker had prior to this stage, trained his constituents in several Lucrative Agricultural and other Entrepreneurial practices such Metal works, craftsmanship, Aquaculture, Snailry, Apoxy painting, amongst others.

He however, seized this opportunity to expose and facilitate the obtainment of this loan by over 95% of his constituents that applied for the loan.

Receiving the grateful beneficiaries in his Enugu residence, Okechukwu said, “This is a policy of the Government, particularly from the Central Bank of Nigeria, to propagate Entrepreneurship in various professions. It came Essentially and mainly during the Covid period. It can be utilized in the several professions of Agriculture such as Rice Farming, Fish Farming, Animal husbandary.”

“We have trained some people in Aquaculture(fish farming), Snailry etc, so when this policy came forth, we had to expose it to our constituency. We had to also pursue the Loan facility for them. We are happy that about 58 persons have directly benefitted from it.”

“The aim of this meeting is to give them a subtle reminder that it is not free, it has to be paid back. Also to encourage them to invest it properly.”

“They are to adequately review the terms and conditions of the loan, enquiring from the more knowledgeable beneficiaries of the loan.”

“The loan has a maximum moratorium of 12 months before they start the monthly remittance. This is to enable them to invest and have some savings before making payment.”

“We trained our people to acquire extensive knowledge of several Agricultural practices, in readiness to launch businesses, to avail themselves for such loan facilities to grow and expand their businesses.”

“However, these loans do not limit their participants to particular practices as they can choose to undergo and explore the world of Agriculture and other Entrepreneurial ventures such as exterior and interior designing, Apoxy painting, welding etc”

“All the participants may not be within the reach of terrains to practice Fishery or Snailry, so they are at liberty to choose from other numerous options suitable to their resources.”

We also learnt that the funds has been adequately disbursed to the beneficiaries.

Payment is to commence pending the exhaustion of the moratorium as agreed with the bank upon the initial agreement.