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Abiodun: We’ll set aside N500m revolving loan for artisans, trade groups in Ogun

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Governor Dapo Abiodun of Ogun State says his administration will set aside N500m as a revolving loan facility for trade groups and artisans in Ogun.

The governor made this known at a meeting with representatives of artisans and trade groups in the state, held at the Presidential Lodge, Abeokuta.

He explained that the loan facility would enable them expand their businesses and contribute more to the development of the state.

“I am going to make the sum of N500m available as a revolving loan to all members of trade groups and artisans. This money will enable them to expand their businesses. This loan must be paid back within the stipulated time frame. Please when you collect the loan, pay back so that others will collect”, the governor stated.

Abiodun acknowledged the importance of trade groups and artisans in the overall development of the society, noting that the state government’s efforts at providing amenities such roads, was aimed at impacting on their businesses and making the state viable economically.

He said as a responsible and responsive government, his administration has defrayed 80 percent of worker’s deductions, attributing the inability to offset all to the additional N1bn to the wage bill as a result of the increase in the minimum wage.

In his remarks, a former governor of the state, Aremo Olusegun Osoba, pointed out that Governor Abiodun had recorded a huge success in less than four years in office and he has been able to complete most of the uncompleted projects left behind by his predecessors.

While assuring the groups that the governor would continue to work towards a better Ogun State, Osoba called for total support for all the APC candidates in the forthcoming elections, stressing the need to re-elect Abiodun as this would benefit the state in the area of more people-oriented projects.

Speaking, President, Ogun State Cooperative Federation, Alhaji Olaleye, said the organization has more than 13,000 registered cooperative societies, with over one million members, adding that “it is responsible for coordinating activities of cooperative societies across the state”.

Meanwhile, the governor has said that his administration would set up Neighbourhood Watch as part of security architecture to guarantee security of lives and properties in communities in the State.

Speaking at a meeting with representatives of Community Development Councils, Area Community Councils and Community Development Areas at the Presidential Lodge, Abeokuta, Abiodun stressed the need for the outfit in order to identify and fish out criminals that have taken refuge in the communities.

“Peace is needed for development and so we are going to start our neighborhood watch project that will be responsible in identifying and fishing out criminals that live in our various communities.

“Our State is known for peace and we are going to ensure that we maintain that peace”, the governor noted.

He also informed that a Social Investment Programme, aimed at taking care of the vulnerable and the poorest in the communities, has been put in place and the representatives of the communities would be appointed by the government to identify those to benefit from the programme.

“There will be Environmental Inspectors in our communities to ensure that our environment is well taken care of all the times. I want the Community Development Councils to collaborate with the Commissioner for Cooperatives and Community Development to pick those that we will use in this programme”, Abiodun added.

He further disclosed that his administration has procured additional 110 new transformers to be distributed to local governments, calling on communities that have not benefited from previous distribution to exercise patience as it would get to their turn.

On the request for the takeover of community schools and healthcare centres by government, the governor urged the associations to list such facilities to enable government attend to them in phases.

The governor observed that as the people’s government, his administration would continue to be inclusive by engaging the communities on projects that would have maximum impact on their well-being, calling for continued support at all times.

The Commissioner for Cooperatives and Community Development, Abayomi Hunye, in his welcome address, said the State has about 14, 000 Community Development Areas, informing that the meeting was called to address issues affecting communities in the state.

In his remarks, the State Chairman of the All Progressives Congress (APC), Yemi Sanusi, noted the contributions of Community Development Councils in turning around the fortune of communities, saying government with inputs from the community leaders have executed numerous people-oriented projects across the state, calling for their support in the forthcoming elections.

The Vice Chairman, Community Development Councils, Alhaji Waheed Adekunle, in his speech, appreciated the governor for the upward review of Grant-in-aid given to the council and for always carrying them along in the scheme of things.

While calling for the empowerment of women and youths as well as provision of electricity transformers to address power outage in the communities, Adekunle solicited for the takeover of community owned education and health facilities for proper staffing and management, assuring that the leadership in the communities would mobilize the people to support the re-election bid of the governor.

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How Palmpay overcame trust deficit in 12 months- MD Nwosu

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Nigerians’ trust in Palmpay, a Central Bank of Nigeria’s fintech licensed bank, has grown tremendously in the last 12 months.

The Managing Director of Palmpay Nigeria, Chika Nwosu, disclosed this recently when he appeared on  Channels TV Business Roundtable.

Recall that the CBN recently restricted Palmpay and four fintech banks from onboarding new customers.

However, Nwosu gave insights into regulatory concerns surrounding the FinTech ecosystem and said that Palmpay has come to stay within Nigeria’s banking sector.

“Whatever happens with regulation is for the good of the FinTech space in Nigeria. Initially, when we started, there was an issue of trust. However, I can tell you now that the last 1 year after the cashless policy has seen the trust start to grow”.

The Managing Director emphasized PalmPay’s unwavering support for regulators in regulating the FinTech ecosystem, underscoring that regulators want to improve the services of strong players in the FinTech space, such as PalmPay.

On the ease of doing business and how it affects PalmPay, he said:

“Doing business in Nigeria for us is difficult, but Nigerians are embracing our App and digital payment”.

When asked about the problem of failed transfers, he stressed,

“Every institution has its business strategy and infrastructure. For us and most fintechs, we have a structure that makes transactions seamless”.

Regarding the regulator’s recent onboarding policy, he stated that PalmPay agreed with the regulators on some grey areas that must be addressed.

Reassuring customers that there was no issue with using PalmPay, he emphasized, “If PalmPay completes their own today, we will start onboarding today”.

On the issue of trust and the security of the PalmPay app, he said,

“There is no day you won’t see on our app boldly written that we are licensed by the Central Bank of Nigeria (CBN) and our deposits are insured by the Nigeria Deposits Insurance Corporation (NDIC). PalmPay is here to stay”.

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Mushin LG Chairman flags off construction of Yusuf Street road, promises solar lighting

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The Mushin Local Government Chairman, Hon. Emmanuel Bamigboye on Wednesday flagged off the construction of Yusuf Street road in Papa Ajao.

The project is expected to bring relief to residents and traders in the area and is set to be completed within six months.

According to Bamigboye, the project is a fulfillment of his campaign promise to the people of Mushin, and he expressed gratitude to God for the opportunity to execute the project.

He urged residents to cooperate with the contractor and the local government to ensure the successful completion of the project.

The councillor representing the ward, Ayomide Abioye, expressed his joy and appreciation for the project, stating that it is the longest street in Papa Ajao and will bring immense benefit to the community.

Also, the Baba Oloja of Ladipo International Market, Eze Monday, also commended the Executive Chairman for the project, stating that it will make a significant impact on the development of the area.

The project includes the construction of the road and the installation of solar lighting, which is expected to enhance security and facilitate economic activities in the area.

Residents and traders in the area have been warned not to disturb the contractor or disrupt the project in any way.

Meanwhile, the traders applauded Hon. Bamigboye for demonstrating its commitment to infrastructural development and the welfare of its citizens.

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Giving back to community — Prof Oyedokun speaks on motives

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Lead Facilitator Professor of Accounting & Financial Development Founder OGE, Prof. Godwin Emmanuel Oyedokun, has disclosed that giving back to society community is his motive for pursuing his career.

He made the disclosure in an article titled “My motive for running a free professional diploma course in Forensic Accounting and Fraud Investigation is of several folds.”

He said, “Running a free professional diploma course in forensic accounting and fraud investigation is also motivated by my desire to give back to the community.

“By sharing my expertise and knowledge without any financial barriers, I am helping individuals from diverse backgrounds and financial situations to acquire valuable skills and advance their careers.”

The academic reiterated that the motive for running a free professional diploma course in forensic accounting and fraud investigation is centred around education, skill development, community service, and professional growth.

It is a way to contribute to the accounting profession, address a skill gap, and empower individuals in their pursuit of knowledge and career advancement.

According to him, “Promoting Education and Professional Development to contribute to the growth and development of the accounting profession by providing individuals with an opportunity to enhance their knowledge and skills in the specialised field of forensic accounting and fraud investigation.

“By offering this free course, i am enabling aspiring professionals to access valuable education that might otherwise be costly or inaccessible.”

The Don addressing the need for expertise in Forensic Accounting said, “In recent years, there has been an increasing demand for professionals skilled in forensic accounting and fraud investigation due to the rise in financial crimes and fraudulent activities. By offering this free course, I am helping to address this skill gap and aiding in the fight against financial fraud.”

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