ECOBANK Nigeria Plc has assured that it would to continue to partner the Ogun state Government as it strives to empower women and make them less dependent economically.
The Public Sector Head of Lagos and Southwest region of the Bank, Mrs. Mojisola Oguntoyinbo gave the assurance in Abeokuta at a meeting with officials of the Ministry of Women Affairs and Social Development and implementing partners of the State’s micro-credit initiative.
Oguntoyinbo indicated that the decision to continually partner the State was reached following the 100% repayment success recorded in the first and second phases of the empowerment initiative, a development she attributed to the commitment and monitoring mechanism put in place by the officials of the
Ministry and the implementing partners.
“We have been watching with keen interest the commendable response of beneficiaries of the first and second phases of the programme. The programme has no doubt engendered economic empowerment and increased abilities of the women beneficiaries to be less dependent on their spouses.
Let me assure you that we at Ecobank would continue to partner and support the Ogun State government in this regard” She declared.
She thanked the Ministry and the implementing partners for living up to expectation, promising that the bank would equally fund the next phase which is being increased to N400m.
Earlier in her remarks, Commissioner for Women Affairs and Social Development, Mrs. Elizabeth Sonubi disclosed that the desire to make women in the State wealth creators informed the decision of government to embark on the empowerment programme.
According to her, the value of the first phase was N100m, adding that the loan was increased to N200m in the second phase, following the success rate of repayment in the first phase. Sonubi said presently, her Ministry was working out modalities with Ecobank for the third phase which is worth N400m, affirming that the money would be disbursed as soon as possible to enable beneficiaries make sales as the yuletide was fast approaching.
The Commissioner therefore enjoined intending beneficiaries to form themselves into groups and register with the Ministry in order to benefit from the next phase, noting that the amount to be disbursed would range between N25, 000 and N200, 000.