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Nigeria Newspapers

Nasarawa State Government Refutes Allegations of Unfair Disbursement of N500m Revolving Fund

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From Abel Leonard, Lafia

The Nasarawa State Government has responded to the allegations of favoritism in the distribution of the state’s N500 million Youth Revolving Fund Scheme (YRFS) loans.

Recall that the government, in collaboration with the Bank of Industry, had approved a matching fund of N250 million each to boost micro, small, and medium-scale enterprises across the state’s 13 Local Government Areas.

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The Director General of the Nasarawa State Human Capital Development Agency, Habiba Balarabe-Suleiman on yesterday vehemently denied the allegations, emphasizing that the program has adhered to strict due process to ensure deserving applicants receive the loans.

She acknowledged challenges in screening and disbursement but asserted that the agency’s integrity remains intact.

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“The YRFS project was designed to provide soft loans to youths to start and expand their businesses, recognizing the difficulty in securing white-collar jobs.”

Balarabe-Suleiman noted that graduates of employability and entrepreneurship training were inclined to entrepreneurship, leading to the initiative.

“In Batch A, out of 42 applications, 10 applicants successfully received loans after rigorous screening, ensuring the viability and originality of their business proposals. The agency has received a total of 89 applications across Batch A and Batch B, with 47 applicants in Batch B.”

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Balarabe-Suleiman warned against spreading false information to tarnish the image of the state governor and the agency, stating that legal actions would be taken against false allegations.

Abdullahi Alhaji, Nasarawa State Manager of the Bank of Industry, confirmed that due processes have been followed since the fund’s approval, emphasizing the partnership’s goal of providing financial assistance to local entrepreneurs.

“The Nasarawa State Government remains committed to supporting its youth in entrepreneurship and economic empowerment while maintaining transparency and integrity in its programs.”

 

 

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