The running mate of Engr. Busuyi Ayowole, Comrade Olowu Emmanuel of the People Redemption Party (PRP) has assured market women and men in the state that the administration of BSY will push funds into the Osun State Micro Credit Agency and the Omoluabi Mortgage Bank.
speaking with our Correspondent at the party secretariat on Sunday where he explained that BSY will offer 1.5% interest rate with a one mouth moratorium, on a loan lifetime of ten (10) months and calculation of interest on the balance to be repaid on monthly bases.
He noted that if Engr.Busuyi emerged as the Governor of the state on July, 16, the shall regulate the activities of the private Microfinance institution in the state.
Olowu explained that if microfinance institution failed to abide with the administration rules and regulations, they will be forced to vacant their activities in our state.
“Trading activities are not new even before the advent of trading in currency, men were known to trade by barter however the resources for trading are always limited which is one of the reasons financial institutions are created for the benefit of man and the expansion of the economy, however, men are growing in the age while the economic life of Man is not progressing due to bad economic policies of the government and in the ability of the government to regulating the activities of the Financial institutions”
“As a people’s government, we shall take the issues of the regulation of the activities of the financial institutions most especially that of Microfinance banks in the state serious” he stated
He further stated that We have seen in Market place how our market women are molested, we have seen the heavy interest rate placed on loans and we have acknowledged that our traders cannot breakeven under such heavy interest loans and we are proud to say that incompetency of the managers of our common wealth over time and neglect of the people took us this far.
PRP Deputy Governorship candidate, noted that since the creation of the state, all those who had led the state as not properly financed our Microcredit agencies, BSY administration shall invest in and ensure that the per capita income of our traders raises.
He promised to fulfil all political manifestos to the people of Osun and especially traders if they are voted to power come 16th of July 2022.