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27,000 Nigerians To Benefit From N10bn IDA Grant

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A non-governmental organisation, Visioned Skills Development Centre, is set to disburse N10billion foreign grant to eligible Nigerians.

Addressing newsmen in Abuja, the CEO of Visioned Skills, Engr. Emeka Kama, said the grant would be given to Nigerians with the right business plan.

Kama said that it was important to sensitise the beneficiaries the modus of receiving the grant approved by International Development Agency (IDA).

He said that the grant is primarily focused on reducing poverty and unemployment in Africa.

“This fund primarily aims at making Nigeria a business destination and intends to achieve it by making the environment conducive to receive it.

“The programme is regulated by Social Exchange Market, a body that would disburse and monitor the disbursement of the funds,” he said.

Kama said the grant is not limited to a specific fund, adding that it is expected to be used for any type of business.

According to him, “in as much as it would generate income, all skill or field, and each individual is expected to get at least N250,000.”

Kama stated that the legal requirement in Nigeria to transform a Cooperative Society to a Micro Finance Bank is that you have not less than 1,000 members in the group.

“The concept is to develop a Mobile Micro Finance Bank and each of these banks would have no less than 1,000 members.

“IDA does not want the funds channeled through the regular banks hence promoting the development of Mobile Finance Banks and in the first batch of beneficiaries, I have earmarked 27 banks, meaning a thousand beneficiaries multiplied by 27 banks, that means I am having 27,000 in the first batch,” he said.

Kama further advised the beneficiaries to put the funds into good use. He added that the money is not largesse.



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