Ekiti disburses N144m for housing and vehicle loans to teachers

Ekiti State Government has disbursed a sum of N144 million as housing and vehicle loans to 712 teaching and non-teaching staff in the state teaching service.

The State Commissioner for Finance and Economic Development, Chief Toyin Ojo, who made this known, in Ado- Ekiti, said N63million of the amount was disbursed as car loans to 257 teaching and non-teaching staff according to their grade levels.

According to him, the vehicle loans ranged from N250, 000 to N1million for benefitting teachers on grade level 7to 16 while junior, non-teaching staff from Grade level 1 to 6 received N70, 000.

Ojo disclosed that the balance of N81million of the amount was disbursed as first and second tranche of staff housing loans to 455 teaching and non-teaching staff in the state teaching service.

Ojo, who recalled that Governor Ayodele Fayose last month approved the disbursement of N119 million as car loans to 623 workers in the State Public Service, in spite of the prevailing paucity of fund in the state, explained that the gesture would reduce the burden of obtaining bank loans with its attendant high interest rate among the beneficiaries.

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He assured that the exercise would be continuous saying that all interested teachers would benefit from the schemes.