Ekiti Teachers Get N144m Vehicle, Housing Loans

Ekiti Teachers Get N144m Vehicle, Housing Loans

Ekiti State Government has disbursed about N144m as vehicle and housing loans to 712 teaching and non-teaching staff in the state’s teaching service.
The Commissioner for Finance and Economic Development, Chief Toyin Ojo, who made this known in Ado Ekiti, said N63m of the sum was disbursed as car loans to 257 teaching and non-teaching staff, based on their grade levels.
The Ministry of Information said the vehicle loans ranged from N250,000 to N1m for teachers on grade level 7 to 16; while junior non-teaching staff from grade level 1 to 6 received N70,000 each.
Ojo added that the balance of N81m of the amount was disbursed as first and second tranches of staff housing loans to 455 teaching and non-teaching staff.
Ojo noted that last month, Governor Ayo Fayose approved the disbursement of N119m as car loans to 623 workers in the public service, despite the prevailing paucity of fund in the state. He said the gesture would reduce the burden of obtaining bank loans, with the attendant high interest rates.
He charged the teachers to reciprocate government’s intervention by discharging their duties conscientiously.