Loan Recovery: Ogun Assembly Lauds OSAMCA

The Ogun State House of Assembly has lauded the Ogun State Agricultural and Multipurpose Credit Agency (OSAMCA) for their ingenuity at recovering debts owed by beneficiaries that took part in the last disbursement.

The Assembly through the Committee on Commerce and Industry led by Hon. Kemi Oduwole, gave the commendation while on the 2019 budget appraisal visit to the ministry, expressing dissatisfaction at the deeds of some agricultural and non-Agricultural enterprises who partook in the disbursement which was done in 2011.

Oduwole also assured the agency of the Assembly’s support at ensuring smooth achievements in line with its vision of providing financial assistance to Micro, Small and Medium enterprises, acknowledging the efforts of the management of the agency for achieving the 88%  debt recovery.

According to him,  beneficiaries who defaulted in remitting their loans would weaken the operation of the agency to offer further credit facility more members of the public, particularly the teeming youth, who needed just a little capital to make ends meet.

Responding, the Consultant to the Governor on Commerce and Industry, Mrs. Sola Arobieke, solicited the assistance of the Assembly to put in place more enabling legislations to assist the agency increase its revenue drive. Arobieke further explained that the agency had embarked on more human capacity programmes including training and orientation programmes geared towards ensuring improved productivity in the agency with a view to increasing its service delivery to boost the State economy.

Packaged by Hazeez Ayansola