–      9200 Beneficiaries To Receive Interest Free Loans

The Governor of Abia State, Alex Otti, will on Thursday, July, 11, 2024, commence the disbursement of revolving interest free loans to Nine thousand, two hundred (9,200) beneficiaries from across the 184 electoral wards in the state, on the platform of the Abia State Cooperatives Support Scheme, initiated by his administration.

This was contained in a release issued by Ferdinand Ekeoma, Special Adviser to the Governor on Media and Publicity.

The release dated July, 10, 2024, reads, “The Governor of Abia State,  His Excellency, Dr. Alex Otti will on Thursday 11th July 2024  commence the disbursement of Revolving Interest Free Loan to Nine Thousand Two Hundred (9,200) beneficiaries from across the 184 Wards of the State under the umbrella of the Abia State Cooperatives Support Scheme initiated by the Alex Otti led-government. 

This first phase of Fifty (50) beneficiaries each selected from the 184 Wards of the state will receive the Revolving Interest Free Loan to assist them in their different businesses.

As part of the ceremony to commence the disbursement billed to take place at the International Conference Centre, Ogurube Layout, Umuahia, on Thursday, July,11, 2024, only 5 beneficiaries per ward will be present to avoid a stampede, given the large number of beneficiaries. All the beneficiaries across the 184 Wards will subsequently receive transfer alerts afterwards. 

The launch of the Cooperatives Support Scheme followed a promise made by Governor Alex Otti during his campaign as the governorship candidate of Labour Party in the 2023 election, to ensure that Abians, especially rural traders and farmers would be given the necessary financial support to boost their business activities as a way of fighting poverty, insecurity and rural-urban migration. 

To ensure that beneficiaries of the Interest Free Loans are those who genuinely need them, the Governor directed that fair and uncompromised selection process be done at the ward levels, a directive that was strictly adhered to”.