…As 794 benefit from LASG Employment Trust Fund
The Lagos State Government has launched the State Employment Trust Fund ‘W’ Initiative as part of the projects marking the 100 days in Office of Governor Babajide Sanwo-Olu’s administration to help women birth their dreams into reality.
Speaking at the presentation of cheques to 794 beneficiaries of the Employment Trust Fund, Governor Sanwo-Olu stated that the initiative is meant for those who require access to cheaper funds to actualise their dreams.
He stated that the initiative came into being through a partnership between Access Bank and Lagos State Employment Trust Fund, saying the accessible funds have been increased from four to ten billion Naira.
The Governor informed residents that the loan can be accessed at any of the 57 LSETF locations across the State, through completion of forms at any of their offices or online, to commence the screening process for obtaining loans with the cheapest interest rate in the country.
According to him, loans up to five million Naira can be obtained through the initiative which allows more women to come into the Financial Inclusion Net and improve their business; however, he added that the funds can also be accessed by everyone that desires to do business in Lagos.
The Governor averred that the presentation of cheques to 794 beneficiaries of the Employment Trust Fund to grow and expand their business is a continuation of the Fund’s business support policy which had benefited over 11 million individuals since inception.
While noting that studies globally have proven that when small savers who have access to financing redeem their loans and enhance their businesses, he commended the leadership of LSETF for the effective management of the Fund and successes recorded so far.
Earlier, Chairman Board of Trustees of Lagos State Employment Trust, Mrs. Ifueko Omoigui Okauru said 50 per cent of the beneficiaries are women, thus reflecting the Gender Equity Policy of the State government.
She, therefore, implored women to take advantage of the facility to actualise their dreams.
In his remarks, the Group Managing Director of Access Bank Plc, Mr. Herbert Wigwe said women deserve to be supported because they are change agents and, as custodians of values and homemakers, they are also recognised for their immense contribution to the development of the society.