Oyebanji Approves N361m Car Loans for Ekiti Civil Servants.
Ekiti State Governor, Mr. Biodun Oyebanji, has approved the disbursement of N361.5 million as car loans to 544 civil servants in the state, according to a statement from the State Commissioner for Finance, Mr. Akintunde Oyebode.
In the statement, made available to newsmen in Ado-Ekiti, Oyebode disclosed that beneficiaries will receive between N250,000 and N2,500,000, depending on their salary grade levels.
To enhance the funding pool and accommodate more beneficiaries, Governor Oyebanji has increased the scheme’s funding pool by N200 million. Additionally, the governor approved a 100% increase in the individual loan amounts for civil servants.
Oyebode further explained that eligibility for the loan scheme requires workers to have spent at least five years in service, have more than five years remaining before retirement, and demonstrate that they will retain at least 50% of their monthly gross pay after loan deductions.
It would be recalled that in October 2023, Governor Oyebanji approved N136.26 million as car loans to 368 civil servants in the state public service.
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