Co-Operative Expert Explains Delay In Grant Processes

The President/Chief Executive Officer (CEO) of iEBS Matrixx Co-operative and Credit Society Limited, Dr. Larry Goodwill Ajiola, has said that the processes grants go through before getting to the hands of the beneficiaries are responsible for the delays experienced before accessing the fund.
Ajiola, who stated this while explaining the process to members of the Co-operative in Port Harcourt, noted that the grant has to pass through seven stages from the donors, to Central Bank of Nigeria (CBN), Federal government, the grant handlers  before the Co-operativ
Ajiola, an International SMEs business consultant, said, “the money would pass through the Federal Government their duty is to acknowledge the receipt of funds at the entry of such grants like Supreme, Theoberth, SEM, New Era, King David to mention but few, as we have more than 25 Grants opportunities in  Nigeria for its citizens.
“Their major role is to verify if it was Stolen, or from Drugs Proceeds or with embargo.
“They also have to verify the sincere objectives of giving such Grant to Nigeria/Nigerians before it can be accepted and warehoused in CBN for further verifications, clarification before final approval by the President through CBN Governor, Mr. Godwin Emefiele if there is any contrary finding by the Federal Government, the grant shall be Rejected and returned to the donors.
“Major Non-Governmental Organisation (NGOs) like Supreme Family Entertainment International Initiative are the ones that take all the trouble to solicit for the grants and the beneficiaries”, he said.
He urged the members and the business public to always develop strong patience to scale the hurdle of grant which cannot be compared to the speed of getting a loan that would be paid with interest.
The iEBS Matrixx Co-operative boss who is a United Nations Eminent Peace Ambassador explained that, “It’s all these procedures that cause the delay which inturn result to aggravated, aggressive agitations of the beneficiaries when NGOs announce the entry of their grants to Nigerians.

By: Lilian Peters