Car Loans: Relief For Civil Servants as Oyebanji Disburses Millions Of Naira

VAM News update

Governor Biodun Oyebanji of Ekiti State has approved the disbursement of another tranche of N136,260,000.00 as car loan to 368 Civil Servants in the State.

The State Commissioner for Finance and Economic Development, Mr. Akin Oyebode who made this known in Ado Ekiti, said Governor Oyebanji also approved the injection of a sum of N200million to recapitalize the loan scheme.

Reiterating the commitment of the present administration to the welfare of workers, Oyebode disclosed that the Governor, in addition, approved the payment of the sum of N174,394,176.88 outstanding deductions from salaries to cooperative societies , Federal Mortgage Bank and other.

According to him, sums ranging from N80,000 to N1.5 million will be disbursed to the beneficiaries of the loan scheme depending on their grade levels.

Highlighting details of the disbursement of the loan, Oyebode said 22 benefiting officers on grade levels 02-06 would get N80,000 each while 180 beneficiaries on grade levels 07-10 would receive N250,000 each.

He added that 150 workers on grade levels 12-14 would be given N500,000 each; 13 personnel on grade levels 15-17 would be awarded N750,000 each and the three beneficiaries on consolidated salary would take home N1.5million each.

Describing the governor’s approval for the disbursement of the loan as a fulfillment of his promise to improve the wellbeing of workers in the State, he recalled that a sum of 130.7million Naira was disbursed in December, 2022 as car loan.

Mr. Oyebode promised that the State Government would continue to fund loan schemes for its employees in spite of paucity of funds and the global economic downturn.

Urging beneficiaries to judiciously utilize the money and avoid spending the loan on things that would not add value to their lives, Oyebode also charged the benefiting workers to reciprocate the government’s gesture by rededicating themselves to their duties and supporting Government’s efforts at developing the state.