Traders in Akwa Ibom State have called on the state government to ensure transparent disbursement of the state’s share of the N220 billion Central Bank of Nigeria (CBN) loan to micro, small and medium enterprises (MSME).
President, Conference of Akwa Ibom Traders (CAIST), Chief Christopher Usoro, made the call in an interview with the News Agency of Nigeria (NAN) in Uyo.
NAN recalls that the CBN recently approved N220 billion loans to be disbursed to MSMEs in the country to enhance their performance.
Usoro said the traders decided to make the call because they were apprehensive that politicians might highjack the funds for their wives and relations. He said government should ensure that the loan was given to genuine petty traders whose capital base was small as directed by the apex bank.
“We are making this call because politicians in their usual manner could highjack it and share it to their wives and relatives.
“We are appealing to agencies responsible for the disbursement of the loan to give it to only traders under registered cooperative societies.
“I and other members of our association have been busy enlightening traders on how to form and register cooperative societies with the Corporate Affairs Commission,” he said.
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