Ekiti govt begins disbursement of N500m SMES loan

The Ekiti State Government will today (Wednesday), begin the disbursement of N500 million Small-and-Medium-Sized-Enterprises (SMEs) loan to 4,564 beneficiaries.


The amount is the first tranche of the N2 billion that the Central Bank of Nigeria (CBN) has earmarked to support small – and medium-scale enterprises in the state.
The 4,564 beneficiaries will get a minimum of N50, 000 and maximum of N1 million.
Governor Ayodele Fayose, disclosed this in Ado-Ekiti, while meeting with the management of Community and Micro-Finance Banks. The banks are to serve as the medium of disbursing the loans.