From Yakubu Mustapha, Minna
Christian and Muslim Interreligious Peace Foundation (CHANMUS) has begun the training of 500 beneficiaries on agriculture and small scale businesses under Nigeria Incentive Risk System for Agriculture Loan (NIRSAL).
The President of CHANMUS, Ambassador Hajiya Fatima Ibrahim made the disclosure yesterday at the opening ceremony of the training Programme in Minna, saying that the training is part of the criteria to obtained the Central Bank of Nigeria (CBN) loan.
She noted each of the beneficiary is entitled to between N1 million and N10 million basically for agriculture and small scale businesses in the state with two guarantors, adding that this was aimed at informing and educating the beneficiaries on what they were going into as well as the benefits.
She further revealed that the repayment is from the first year to seven (7) years duration noting that starters are entitled to 6 months meritorioum while those with existing businesses will have three months depending on the type of business they are going in to.
Ambassador Fatima Ibrahim explained that CHANMUS as an Entrepreneurship Development Institute (EDI) has engaged in the training of the beneficiaries of NIRSAL Micro Finance Bank on how to manage their businesses and the loan when approved.
She advised them to participate fully in the training and make use of the loans for its purpose so as to become employers of labour as well urged beneficiaries to ensure effective and efficient repayment of the loan not a grant while assuring for the programme continuity.
According to her, “this is a loan and not a grant for you people to claim that it is a national cake as obtain in the past in the country, this loan facility by the federal government and CBN will go a long way in alleviating poverty, create jobs and boast economy as well provide food security for Nigeria” she said.
