Governor Biodun Oyebanji has given his approval for a substantial car loan scheme. The Ekiti State Commissioner for Finance, Mr. Akin Oyebode, announced this significant development in a statement released in Ado Ekiti on Sunday.
Under this program, a total of N136.26 million will be allocated to provide car loans to civil servants in the state. These loans will be disbursed based on the respective grade levels of the beneficiaries, with amounts ranging from N80,000 to N1.5 million.
Mr. Oyebode also disclosed that the governor also approved the injection of N200m to recapitalise the loan scheme, while reaffirming Oyebanji’s commitment to workers’ welfare.
Giving a breakdown of the disbursement of the car loan, Oyebode said, “Twenty-two benefiting officers on grade levels 02-06 would get N80,000 each while 180 beneficiaries on Grade Levels 07-10 would receive N250,000 each.
“One hundred and fifty workers on Grade Levels 12-14 would be given N500,000 each; 13 personnel on Grade Levels 15-17 would get N750,000 each, and the three beneficiaries on consolidated salary would take home N1.5 million each.”
While noting that the government in December 2022 disbursed N130.7m car loans, the commissioner said the Oyebanji administration would continue to prioritise workers’ welfare.
“The governor, in addition, approved payment of N174.39m outstanding deductions from salaries to cooperative societies, Federal Mortgage Bank and others,” he added.