Sokoto Establishes Micro-Finance Bank, Disburses N1bn Soft Loan

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By; NASIRU SULEIMAN, Sokoto

The Sokoto State Government has disbursed an interest-free loan of N1 billion to traders and artisans in the state.

The disbursement of the loan was done at the flag-off of the state micro finance bank in its effort to improve the lives of the citizenry and accelerate socio-economic development.

Gov. Aminu Waziri Tambuwal of Sokoto State who flagged off the operations of the Giginya Micro-Finance Bank in Sokoto on Friday, stated that “the loan is going to be revolving in nature and will be paid back on monthly installments in two years for others to benefit.

Giginya Micro-Finance Bank is the first indigenous bank in Sokoto styate licensed by the Central Bank of Nigeria (CBN).

Tambuwal also assured that the state government is poised to grow the financial base by sourcing for N2 billion from the CBN, “to support our traders and all those at the micro, small and medium level of the economy.”

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