Oyo East LG launches free interest loan cooperative scheme

JOSEPH OKWUOFU, Ibadan

The Oyo East Local Government has launched the Isokan Cooperative Scheme for members of the public with N2million.

This was revealed by the Executive Chairman, Oyo East Local Government Council, Hon. Saheed Arowosaye Adeyemi after the launch in Kosobo, Oyo town.

The Cooperative, according to Hon. Arowosaye, will be giving out interest-free loans to members in Oyo East Local Government Area.

He said the new plan was coming as a stream that offers affordable cooperative loans to members of the public to ease their financial stress.

Popularly known as, “Say no to Gbomu le lantern”, the initiative, being promoted by the Oyo East Local Government is meant to boost the affordability of basic needs of members of Oyo East Local Government.

Speaking with stakeholders, during an engagement session, Hon. Arowosaye urged anyone that might be interested to register with the Cooperative to take advantage of the rare opportunity.

Under the scheme, Hon. Arowosaye said residents were encouraged to organise themselves into structured groups, to access loans from the cooperative.

He stated that the scheme is an affirmation that the State Government under the leadership of Engr. Seyi Makinde is meeting its mandate of easing the livelihood of residents in the State, especially those within the medium and low-income bracket.

“I urge anyone that might be interested to register with the Cooperative to take advantage of this rare opportunity”, he said.

Arowosaye  also said the Chairman of the Society is Alh. Adedeji Wasiu Adekola, while Mrs. Ajolayo Adebayo is the Secretary.

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