The Oyo East Local Government has launched the Isokan Cooperative Scheme for members of the public with N2 million. This was revealed in a statement by the executive chairman of the council, Hon. Saheed Arowosaye Adeyemi, after the launch in Kosobo, Oyo town.

The cooperative society, according to Hon. Arowosaye, will be giving out interest-free loans to members in the local government area.

He said the new plan is coming as a stream that offers affordable cooperative loans to members of the public to ease their financial stress.

Known by an alias, ‘Say no to Gbomu le lantern’, the initiative, being promoted by the Oyo East Local Government is meant to boost the affordability of basic needs of members of the local government.

Speaking with stakeholders during an engagement session, Hon. Arowosaye urged anyone that might be interested to register with the cooperative society to take advantage of the rare opportunity.

Under the scheme, Hon. Arowosaye said residents are encouraged to organise themselves into structured groups, to access loans from the cooperative.

He stated that the scheme is an affirmation that the State Government under the leadership of Governor Seyi Makinde is meeting its mandate of easing the livelihood of residents in the state, especially those within the medium and low-income bracket.

Arowosaye revealed that the chairman of the society is Alhaji Adedeji Wasiu Adekola, while Mrs. Ajolayo Adebayo is the secretary.

Source: theeagleonline.com.ng