Aregbesola seeks approval to access N2bn CBN loan

The Oshun State Governor, Mr. Rauf Aregbesola, has sought for the approval of the State House of Assembly to access N2bn from the Central Bank of Nigeria Micro, Small and Medium Enterprises Development Fund.

The  governor in a letter dated Oct. 23 and read by the Speaker of the Assembly, Mr  Najeem Salaam, at the plenary on Tuesday in Osogbo, said the loan was meant to create employment, wealth and facilitate economic development of the state.

In the letter, Aregbesola said the Memorandum  of Understanding (MoU) that the state government signed with CBN stipulated that the resolution of the house on the said loan was required before it could be accessed.

The governor said that the loan was  in line with the six-point integral action plan of his administration, and urged the assembly to give the request quick deliberation.

Aregbesola said, “You will recall that our government has formally requested to be considered as a beneficiary of N2bn Micro, Small and Medium Enterprises Development Fund with the Central Bank of Nigeria.

“The Scheme is meant to create employment, wealth and economic development of our dear state, which is in line with our administration’s six-point integral action plan, which is banishing hunger.

“Apart from entering into the MoU with CBN among others, the resolution of the house is also a condition to be submitted to the CBN before the fund could be accessed.

“Consequently, I wish to request for the resolution of the house to approve the participation of the State of Osun in the CBN’s N2bn  Micro, Small and Medium Enterprises Development Fund,” he said.

The speaker directed the House Committee on Finance and Appropriation, as well as the  Committee on Commerce, Cooperative and Empowerment to liase with the appropriate ministries and government  to know the depth of the request before dealing with it.

Salaam said the committee should submit its findings within one week for appropriate action.

Source: Punchng