Osun Women Charged On Interest Free Loan

Women in the State of Osun have been encouraged to avail themselves the opportunity of an interest free loan by the National Women Empowerment Fund (NAWEF) to either start a new business or expand their already existing small and medium scale business.

The Commissioner, Ministry of Women, Children and Social Affairs, Alhaja Lateef Giwa gave these words of encouragement during a one-day sensitization programme organised by the National Women Empowerment Fund (NAWEF) for women groups in the nine (9) Federal constituencies in the State of Osun held at Moremi Hall, Government Secretariat,

Alhaja Giwa made it known that, the National Women Empowerment Fund (NAWEF) is a special intervention fund being implemented by the Federal Ministry of Women Affairs and Social Development in partnership with the Bank of Industry (BOI) aimed at facilitating growth and entrepreneurial development at grassroots level.

She emphasized that, the State of Osun is privileged to be part of the eight pilot states in the country to benefit from the Micro-financing scheme noting that, fund will be disbursed to only credible women groups that are registered at the Ministry of Commerce, Industry and Cooperatives.

According to her, the loan can be accessed by women groups with a personal Bank Account as well as Bank Verification Number. She maintained that, on the-spot-assessment would be carried out to ascertain the true identities and that each beneficiary has a legitimate trade before disbursement of loan.

The Commissioner further explained that, the defaulters of the loan will be blacklisted thereby making it difficult for such person to transact financially in the bank again.