Ekiti Gov Approves N361m Car Loans for 544 Workers

Ekiti State Governor, Biodun Oyebanji, has approved the disbursement of N361.5 million as car loans to 544 workers in the state public service. 

The Commissioner for Finance, Mr Akintunde Oyebode, who made the disclosure in a statement on Friday, said the governor also gave approvals to expand the scope.

Oyebode stated, “Mr governor has approved the disbursement of N361.5m as car loans to 544 workers in the state public service. Each beneficiary will receive between N250,000 and N2.5m depending on their salary grade levels. 

“The governor has also approved the increase of the scheme’s funding pool by N200m.”

This, he said, was part of efforts to ensure adequate funding of the loan scheme and for the programme to accommodate more beneficiaries.

Oyebode said, “The governor has also approved a 100 per cent upward review of the individual loan amount for benefitting civil servants.

“To benefit from the loan scheme, workers must have spent at least five years in service, must have more than five  years left and must demonstrate that they will retain at least 50 per cent of their monthly gross pay after the loan deduction.”

Recall that Oyebanji in October last year approved the disbursement of N136.3m as car loans to 368 Civil Servants in the State Public Service.