By Mike Adeyemi
No fewer than 1,000 traders in Kwara State will benefit from the $322m looted fund by the former Head of State, General Sani Abacha.
The development is on the heels of Federal Government directive to commence the disbursement of the fund in july 2018 to poor households in 19 states, Kwara inclusive.
Other states are Niger, Kogi, Ekiti, Osun, Oyo, Kwara, Cross-River, Bauchi, Gombe, Jigawa, Benue, Taraba, Adamawa, Kano, Katsina, Kaduna, Plateau, Nasarawa and Anambra.
The Chairman of Ilorin West Market Association, Alhaji Mashood Alaya, speaking with Pilot Business on this backdrop yesterday, disclosed that plan is in top gear to ensure even disbursement of the funds to the market men and women in the state.
According to him, the disbursement will take effect immediately after collating names of traders who fall within the trade ambit as slated and stipulated by the Federal Government.
“Three days ago, we got a message from Access Bank that we should come up with database of our members in Ilorin West markets and about 1,000 slots were allotted us.”
Alaya said, ‘Ilorin West market union have mobilised its members that fell under the coverage of the fund, particularly the petty traders. We have been given forms to fill; hopefully the disbursement will concurrently follows after the submission of the form.
“The N10, 000 is non-interest loan, with a repayment circle span of 6 months. I think this development will go a long way to cushion and promote trade activities of our members in Ilorin West market, because any additional kobo in business augmentation could not be discarded”.
Alaya however use the medium to appreciate the Kwara State Government over the recent N100 million loans given to Market Association in the state.
“We the Market Association in Ilorin West Local Government lauded the Kwara State Government for the 9 per cent interest loan given to us by the state. It is a welcome development, which has uplifted the business activities of our members.
Though the fund is miniature in relative to the numbers of markets in the state, but it is a good omen that this is coming at this time”.
“We have 11 markets in Ilorin West alone, with over three million traders in each of the markets. You can imagine the petite and proportion of this loan in relation to this huge number! We want to appeal to the Kwara state government to augment the loan in the subsequent one”, Alaya said.