By Oluwatope Akinjide, Ondo
Engineer Ayotunde Bally and Chinelo Aduke Bally, the conveners of Ayotunde Chinelo Foundation at the weekend presented cheques of N500,000.00 and N250,000.00 respectively to 20 beneficiaries in the first phase the interest-free loan scheme in Ondo city, Ondo State.
Bally explained that the loans are to support the beneficiaries to grow their business and create wealth.
Engineer Bally, a Development Specialist and Humanitarian while speaking at the event noted that the vision of his Foundation is to raise 1000 successful young entrepreneurs within the next five years in Ondo Kingdom.
He added that the loans are interest-free for young adults between the age of 18 to 35 years. He said the beneficiaries are all residents living and doing business in Ondo kingdom.
“Individual guarantors have made good recommendations about the beneficiaries before receiving the loans. More so, good knowledge of the business and mentorship were added criteria to benefit from the loan scheme,” he said.
The Guest lecturer, Dr. Ibukun Awosika enlightened all and sundry on her Topic Lecture titled ” Youths Participation in Community Development”.
She described youth as anybody between the age of 15 and 24 years according to United Nations, while in Nigeria context is between 18 to 35 years old. She said 60% out of Nigeria population are youths and about 66.7% of them were unemployed in Nigeria.
Awosika encouraged the youths to involve actively in the public life of their communities and contribute actively towards its development.
She expressed her delight on what Ayotunde and Chinelo Foundation have been doing for the young people of Ondo city saying this laudable initiative would go a long way in eradicating poverty.
Earlier, the wife of the convener, Mrs Chinelo Aduke Ayotunde Bally described the intention of his husband as a noble one, due to his love for his people.
Mrs Chinelo congratulated all the beneficiaries and revealed how the Foundation would mentor all of them to create wealth and maximize the opportunities therein.
She advised the recipient of the loan to make genuine use of the facilities and develop others by creating jobs and further help in solving numerous problems facing the kingdom for a shared economic prosperity.
Speaking with Miss Akinfela Oluwafunmilayo, one out of the 20 beneficiaries in the first phase of interest-free loan scheme expressed her joy and appreciated the Ayotunde and Chinelo Foundation for enabling her with N250,000.00 as a boost to her food commodities market.
According to her, she promised to repay the loan back on time, because they have 90 days loan repayment holiday. She said this would ensure that others benefit again and keep the scheme running.
The Chairman of the occasion High Chief Johnson Adeduro, the Sasere of Ondo Kingdom in his remarks commended the initiator of the Foundation saying they have done well and appreciated the vision driving them to develop Ondo Kingdom.
He advised the youth to take this opportunity as a breakout from poverty and develop others. He also charged them to pay back the loans for others to enjoy.
The High Chief encouraged other sons and daughters of Ondo Kingdom to emulate Ayotunde and Chinelo Foundation for a collective socio-economic re-engineering of our people.
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