Oyetola approves vehicle refurbishing loans for workers
By Abimbola Abatta
Osun State Governor, Adegboyega Oyetola has approved the resuscitation of Vehicle Refurbishing Loans obtainable for various categories of public servants.
This initiative is part of the commitment of the present administration to the welfare of workers in Osun in view of the fact they are the instruments through which government policies and programmes are effectively being implemented and delivered.
A press statement signed on Friday by the Permanent Secretary Ministry of Finance who is also the Chairman of the Vehicle Refurbishing Loan Committee, Mrs Adebimpe Ogunlumade, stated that the welfare of Public Servants is paramount to the State Government of Osun.
According to the statement, “the approved rates of the vehicle refurbishing loan to various categories of workers are: grade levels 1-3 to obtain N200,000.00 while officers on grade levels 4-6 will be eligible to a loan N250,000.00 with those on grade levels 7-8 to earn N350,000.00 loan. Those on grade levels 9-10 will be eligible to a loan of N400,000.00.
“For the senior categories, a grade level 12 officer will be entitled to a loan of N500.000.00, those on grade levels 13-15, N600.000.00 while levels 16-17 officers will have the opportunity of obtaining a N750.000.00 loan.
“Prospective applicants for the different categories of the loans are expected to obtain an application form of N1,000 only from the Department of Finance and Accounts/Establishment or Administration and Supplies as applicable to each agency of government within two weeks of the issuance of this circular.”
The circular letter further read, “Officers who are likely to suffer financial embarrassment on being granted that Vehicle Refurbishing Loan will not be considered in line with extant Financial Regulation 18001; it should also be noted that the scheme is a continuous exercise and would be done in batches and is a revolving loan so as to accommodate as many eligible applicants.
“The Vehicle Refurbishing Loan committee hereby states unequivocally that it is poised to ensure fairness and equity in its operation. All public servants are therefore implored to allow the committee operate freely without undue interference in its activities, as all applicants from various Agencies of Government will be treated fairly.”
