Our intention is to make you entrepreneurs so you can do away with the dependence of the monthly N65,000 stipend that some of you are so used to
The Presidential Amnesty Programme (PAP) on Friday began sensitisation of ex-agitators on procedures to obtain single-digit interest loans from its recently launched cooperative scheme.
Launching the sensitisation, the Interim Administrator, Maj.-Gen. Barry Ndiomu, said it was designed to guide prospective beneficiaries on how to access different categories of the loans.
Ndiomu, who was represented by his Special Assistant on Special Duties, Mr. Thomas Peretu, promised that qualified ex-agitators would not be denied access to the credit facility.
He described the process as transparent, saying that it was being managed by a team of respected individuals.
Ndiomu explained that the Cooperative Scheme was part of efforts of the PAP to transform ex-agitators from monthly stipend earners to entrepreneurs.
He said: “We have done all we can in putting this together. Right now we are taking off big time.
“Let me assure you that all of you (ex-agitators) will be beneficiaries of the loan scheme. It is your project.
“Our intention is to make you entrepreneurs so you can do away with the dependence of the monthly N65,000 stipend that some of you are so used to.”
Mr Ziga Ayibakuro, Lead consultant, Presidential Amnesty Programme Beneficiaries Cooperative Scheme Limited (PAPCOSOL), said the exercise was designed to educate ex-agitators on the purpose of the cooperative.
“There is a place for knowledge if you want to succeed in any business. Some of you have limited access to information which is very key if you want to start a business.
“What we are doing as a cooperative is to help you with all the necessary information that is important to start your business before providing the seed capital for you”, he said.
Ayibakuro commended Ndiomu for the initiative, saying that the loan was meant for ex-agitators with viable products or services.
According to him, the process involved online registration to “fill their Bio data like BVN, National identity, PAP ID code, which will be verified from the backend.
He said a letter of commitment to pay back the loan with 5% interest per annum, three years tenor and one year moratorium would also be provided by the beneficiaries.
He said that the loan disbursement process would be completed within two weeks after the last date of application and would be done in different phases.
Ayibakuro also told ex-agitators without any business name that they would be assisted to register their businesses.
He also promised that the beneficiaries of the loan would be guided on how to grow their businesses and mitigate risks.
The PAP Chairman, Strategic Communications Committee, Mr. Nature Dumale Kieghe, described the PAP cooperative society Ltd as a flagship project.
He commended Ndiomu for his unique initiatives, which he described as a demonstration of his desire to develop the economic potential of ex-agitators.
He called on the facilitators and lead consultant, Zigha to deploy his experience in helping delegates succeed in the new legacy project of the interim administrator.
Kieghe, who is also the National Secretary of the first phase of ex-agitators, advised them and delegates to take full advantage of the life-opportunity.
A business development consultant, Mr. Emmanuel Benedict, enumerated the various opportunities for Small and medium scale enterprises.
(NAN)