Akwa Ibom traders have a window period of 90 days to access the N2b interest free loan provided by the State government or risk the return of the funds to finance other projects.
The state governor, Pastor Umo Eno who registered his disappointment while addressing stakeholders at government house in uyo regretted that till date, none of the traders have access the funds.
He however threatened to redirect the money to other projects if the traders failed to access the funds in ninety days.
“That money has been there at the Accountant General’s office and ninety days from today we will send it to any other place”, he stated.
“We have announced a two billion Naira Interest-free-loans to our traders and up till now, nobody has access that money because of their in-house wahala and of course, let me also say it here that in the next ninety days if you do not use the money, we will use it for something else. Money appreciates, I cannot set aside money forever”, he declared.
It could be recalled that following complaint that traders were sourcing funds at high interest rate to do business which pushed the prices of food stuff upward up, the governor had announced a financial intervention amounting to N2b as interest free loan to traders.
The funds were to be managed by the Ibom Fadama Micro Finance Bank.
Governor Eno charged his Senior Special Assistant on Trade and Market Matters Mr. Idorenyin Raphael to immediately liaise with the Secretary to the State Government, Prince Enobong Uwah to get the money out of the system.
“We have also given money even to our non-indigene, the Arewa community, Yoruba, Igbo, Niger Delta community but we are waiting for the modality to disburse. Never again under my watch will I give money to a group and say to them go and spend. We will follow the money, we want to know when you disburse it, and to whom you disburse it to so that the money can get to the right people and that is why these monies have not been collected but they are there”, he submitted.
