Bank Loans: KWACCIMA wants affordable collateral requirements
By Kayode Adeoti
The President of Kwara Chamber of Commerce Industry Mines and Agriculture (KWACCIMA), Dr. Ahmed Adeoye Raji has called on commercial banks to reduce stringent criteria on loans for investors.
He made the call during a media interaction on the sideline of the Offa Economic Summit held in Offa, Kwara state on Tuesday.
The KWACCIMA president said “The financial institutions needs to have a human face by softening the collateral requirements for granting loans to investors as a means of encouraging industrialisation of the country.”
He tasked the people to establish industries in their various communities that will boost the economy and jobs creation, instead of tying down their money in banks.
Raji who is also the organising chairman of the Summit, explained that the essence of the event is to brainstorm and fashion out plans on ways to improve the infrastructural deficits of the community.
He said, “Offa community lacks some infrastructural development that is germane to a community, we’re inviting economic experts to proffer solutions on this vacuum.
“Offa people are predominantly farmers, the occasion will avail them a value added opportunity. Here, we’re known for the production of sweet potato, ‘anamo’, our people through the summit will be taught better on how to make good fortune out of it.
“In all facets of Nigeria, you will find an Offa man, this implies that we have unique potentials which, if harnessed will formulate policies that will impact on the well-being of the ancient community,” he added.
Earlier, the President of Offa Club 80, Professor Adegboyega Olagunju explained that summit which is holding tomorrow (Friday) is being organised by the Club in collaboration with Offa Descendant Union (ODU).
According to him the club will bring a rebirth to Offa Industrial Development Trust Fund Committee.
He said, ” The committee is expected to raise funds and manage it in such a way that establishment of small and medium enterprise will be encouraged in the community.”
Prof. Olagunju stressed that the programme is aimed at strengthening the economy of the ancient town thereby describing the event as the first of its kind in this part of the world.
The former Rector of Federal Polytechnic, Offa sought for the participation of stakeholders and individuals, adding that the summit is aimed at showcasing laudable gains.
He revealed that prominent dignitaries like the retired Deputy Governor of Central Bank Nigeria (CBN), Dr. Sarah Alade, former Executive Director of Bank of Industry (BOI) Dr. Waheed Olagunju among others will be guest speakers on the theme, ‘Economic Transformation of Offa as an Emerging City’.