Gov. Dapo Abiodun of Ogun State.
Ogun Agricultural and Multipurpose Credit Agency (OSAMCA) has trained 40 credit officers to help it recover outstanding loans so as to empower more Micro, Small and Medium Enterprises (MSMEs) through the provision of interest-friendly loans.
Speaking during the two-day training themed, ” Effective and Efficient Credit Management” held in Abeokuta, Commissioner for Industry, Trade and Investment, Mrs. Kikelomo Longe, whose Ministry supervises the Agency said the training would help the credit lender fulfill its mandate of tackling poverty, unemployment, food insecurity by providing timely and adequate credit support to small and medium scale farmers and entrepreneurs.
Represented by the Permanent Secretary in the Ministry, Dr. Olu Ola Aikulola, the Commissioner added that Credit Officers need to be well grounded in financial literacy, formalisation of records, credit appraisal, mitigation of credit risk and many more, which are fundamental in any loan disbursement and repayment procedures.
Longe stated that the training would also deepen the knowledge of the Officers on how best to provide timely, adequate and cost-effective credit support to entrepreneurs in the State.
He assured that Prince Dapo Abiodun-led administration would continue to provide a conducive working environment to enable the Agency accomplish its mandate.
:Declaring the training open, Chairman, OSAMCA, Princess Feyikemi Egbeyemi said the training was organised to enhance the Agency’s credit performance as it provides credit facility to MSMEs in the Agricultural and non-agricultural sectors.
Egbeyemi lauded Governor Dapo Abiodun for approving the training and charged the participants to utilise the knowledge gained at the programme to improve their service delivery.
The Chairman stressed that Credit Officers need to adequately play their role as advisors by providing the necessary advice to ensure only qualified applicants obtain loan forms, adding that the Agency is determined to enable applicants obtain loans within five days of loan request.
Delivering the lecture titled, “Microfinance Institutions Management and Challenges in Nigeria”, the Resource Person, Prof. Sunday Enilolobo identified default in loan, improper regulations, political interference as some of the challenges limiting Microfinance institutions in Nigeria calling on the State government to support the Agency through increased funding to enable more qualified agric and non-agric MSMEs access loans from the credit lender.
Also speaking, two of the Credit Officers, Mrs. Yetunde Oduntan and Mr. Olayinka Alimi, said the training had exposed them to strategies that would help them discharge their duties effectively assuring that the knowledge gained would be well utilised.
