Newsfront Online …Telling the Public as it is
National Directorate of Employment has told beneficiaries of the Start-Your-Own-Business Enterprise Enhancement Scheme and Shoe and Bag Trainees in Abia State to map out how to repay their loans.
The state director of the directorate, Mrs Tessy Nwachukwu stated this in her address of welcome at the orientation and loan distribution ceremony for the beneficiaries in Umuahia, the capital. She said the funds are not grant as may be construed by the uninformed, adding that the beneficiaries are expected to repair them monthly at the end of the moratorium period.
She expressed appreciation to the federal government and the director general of the directorate, Mal Abubakar Fikpo for the opportunity provided for the beneficiaries to start their own businesses.
The beneficiaries were taken on a lecture on banking culture and encouraged to plan their finances and the need for budgeting by a staff of one of the new generation banks, Mrs Victoria Onwuka.
Messers Friday Ukaegbu and Gospel Kanu of the directorate took them on financial planning, good record keeping, and stock taking as well as repayment plan for the various loan packages respectively. Responding, one of the participants, who gave his name simply as Dee Iheakanwa, told LEADERSHIP Weekend that he was excited by the intervention, assuring that he would repay it as scheduled.
