Oyebanji Approves Additional ₦100 Million Recapitalisation Fund for Local Government Loans Board.

Oyebanji Approves Additional ₦100 Million Recapitalisation Fund for Local Government Loans Board.

...Akomolede Hails Governor's Commitment to Workers' Welfare.

By Rotimi Akomolede

The Ekiti State Local Government Staff Loans Board has applauded Governor Biodun Abayomi Oyebanji (BAO) for the recent approval of an additional ₦100 million recapitalization fund, describing the gesture as a landmark in the welfare and financial empowerment of grassroots workers.

The commendation was contained in an open letter signed by the Permanent Secretary of the Board, Mr. Rotimi Akomolede, who noted that the latest disbursement comes barely a year after the first tranche of ₦200 million was approved by the governor in September 2023.

His Excellency Governor Biodun Abayomi Oyebanji
The Executive Governor of Ekiti State. 

Akomolede described the fund as a lifeline for many Local Government staff, enabling them to pursue essential goals such as home ownership and vehicle acquisition, without falling victim to high-interest, predatory lenders.

 “This approval marks a remarkable milestone. Your Excellency’s visionary leadership has set a high standard for excellence, transparency, and accountability. This support will protect our staff from the grip of ‘Shylock’ moneylenders and improve their quality of life,” he said.

Mr Akomolede Rotimi, Permanent secretary Ekiti State Local Government Loans Board.

He also highlighted key achievements of the Oyebanji-led administration that have impacted the Loans Board and its beneficiaries, including:

●The promulgation of the Ekiti State Local Government Staff Loans Board Law, 2023

●The initial ₦200 million recapitalization fund (September 2023)

●Procurement of two Toyota Corolla vehicles (2010 models) for official use (April 2025)

●Recent ₦100 million recapitalization fund (May 2025)

Akomolede described the governor's track record as “a shining example of what Nigeria’s future can become when visionary, compassionate, and accountable leaders are entrusted with power.”

He also used the opportunity to commend the Ekiti State Commissioner for Local Government Affairs, Chief Folorunso Olabode, for his unwavering support and instrumental role in advancing the Board’s objectives.

 “Chief Folorunso Olabode has been a pillar of support and a voice for local government workers. His coordination and intervention at critical moments have helped make this recapitalization dream a reality,” Akomolede added.

Chief Abejide Samuel, Chairman Ekiti State Local Government Service Commission.

Furthermore, the Board expressed appreciation to Chief Abejide Samuel, Chairman of the Ekiti State Local Government Service Commission, for his consistent advocacy and commitment to the growth and welfare of local government workers across the state.

In his closing remarks, Akomolede assured Governor Oyebanji that the staff of the Local Government Service are not only grateful for his pragmatic and people-focused leadership but are also fully aligned with his vision for a greater Ekiti.

 “Your Excellency, we are inspired by your results-driven approach to governance. You have rekindled hope, restored dignity, and empowered families at the grassroots. Be assured that the entire Local Government workforce stands firmly behind you—not only in words but in action. We are committed to supporting your policies, your vision."

 “On behalf of the entire management and the thousands of beneficiaries across the local government system, we express our heartfelt gratitude to Your Excellency and all stakeholders who made this possible. May your administration continue to record monumental successes, and when the time comes, we will reward this leadership with our massive votes in your second term bid” the letter concluded.