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Nigeria: Borno State Micro Finance Bank Distributes Interest Free Loan To Over 700 Youths, Women And Widows

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B: Babagana Bukar Wakil, Maiduguri

Borno state government in its efforts to alleviate poverty the Micro Finance has supported over 86 widows and less privileged families to become to self-reliant under the auspices of Borno Ngarnam Initiatives, in Mafoni Ward in Maiduguri on Sunday.

Flagging off the cash distribution exercise at the General Annual Meeting of the Association the Managing Director Borno state Renaissance Micro Finance Professor Ibrahim Bello said that Governor Babagana Umara Zulum supported the bank to empower timid Youths, women, widows and others to drastically eradicate the endemic poverty among the civil populace.

Ibrahim said more than seven hundred people across the state have successfully received the interest Free Load under Fourteen registered associations out of which 10 are in Maiduguri others are, Ajiri, Ngwom Kauri villages.

The amount will be paid back within the period of three hundred and Thirty Three Days by making a deposit on daily basis depending on the amount they were given.

Ibrahim Said charged the beneficiaries to make good use of the interest loan being given to them.

Chairman of Borno Ngarnam Initiative, Bashir Goni Muktar assured Borno Renaissance Micro Finance bank, that the beneficiaries will never relent in their effort to pay back the loan within the stipulated period of time.

Expressing their gratitude to the organizers Bukar Muktar a beneficiary who received the sum of five hundred thousand Naira cash said that he will be installmentally paying one thousand five hundred Naira daily for the period of three hundred and thirty three days to complete his backloads and promised to abide by the rules.

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