Ondo Govt Wants Beneficiaries To Repay Loans

The Ondo State Government has appealed to the beneficiaries of its micro credit facility to ensure prompt settlement of the loans granted to them.

The Chairperson of the State Micro Credit Agency (OSMA), Mrs Banke Sutton, made the call in a statement issued in Akure the state capital.

The agency is saddled with the responsibility of granting loans up to N20 million to those interested in setting up small scale businesses.

Sutton, however, regretted that some beneficiaries were reluctant and slow in paying back the loans.

“One of the major issues discussed at the meeting held with the loan beneficiaries was on the repayment of loans by some reluctant groups.

“Payment of loans disbursed by this agency are not forthcoming as being expected. Although some reasons were given for the delay, we still appeal to them to avoid taking harsh measures against defaulters.

“They should be reminded that we have the authority to take over collateral of any defaulter,” she said.

The chairperson said the agency would provide more loans to groups that made 100 per cent repayments.

“We have given our promise to those who settled their loans that they will get more,” she said.