PAP sets to disburse cooperative loans, sensitizes ex-agitators

By Peters Monday, Abuja

The Presidential Amnesty Programme (PAP), has announced the commencement of sensitization of ex-agitators on procedures to access single-digit interest loans from its recently initiated cooperative scheme.

The Interim Administrator, Maj-Gen. Barry Ndiomu (retd), while flagging off the sensitization in Port Harcourt, Rivers state said it was initiated to guide ex-agitators on procedures to access different categories of the loan.

The PAP administrator who was represented by his Special Assistant on Special Duties, Mr. Thomas Peretu, said qualified beneficiaries would not be denied access to the credit facility.

Ndiomu assured beneficiaries that the process would be transparent, adding that it was being managed by a team of respected individuals.

He maintained that the Cooperative Scheme was part of efforts of the PAP to transform ex-agitators from monthly stipend earners to entrepreneurs.

According to him, “We have done all we can in putting this together. Right now we are taking off big time. Let me assure you that all of you (ex-agitators) will be beneficiaries of the loan scheme. It is your project.

“We intend to make you entrepreneurs so you can do away with the dependence on the monthly N65,000 stipend that some of you are so used to. It is important to begin to think big to make a good impact in your communities, states and the country.”

However, the consultant for the Presidential Amnesty Programme Beneficiaries Cooperative Scheme Limited (PAPCOSOL), Mr Zigha Ayibakuro, added that the exercise was designed to educate ex-agitators on the purpose of the cooperative and the need for them to work together to achieve set objectives.

“There is a place for knowledge if you want to succeed in any business. Some of you have limited access to information which is very key if you want to start a business.

“What we are doing as a Cooperative is to help you with all the necessary information that is important to start your business before providing the seed capital for you,” he noted.

Ayibakuro appreciated Ndiomu for the initiative, stating that the loan was meant for ex-agitators with viable products or services. He said the process involved online registration to “fill their Bio data like BVN, National identity, PAP ID code, which will be verified from the backend, skill history proof, business history proof to determine if they are engaged in any trade or productive activities,” among others

The consultant further asserted a letter of commitment to pay back the loan with 5% interest per annum, three years tenor and a one-year moratorium would also be provided by the beneficiaries.

He disclosed that the loan disbursement process would be completed within two weeks after the last date of application and would be done in different phases.

Ayibakuro also assured ex-agitators without any business name that they would be assisted to register their businesses while beneficiaries of the loan would also be guided on how to grow their businesses and mitigate risks.

Responding, the PAP Chairman of the Strategic Communications Committee, Mr Nature Dumale Kieghe described the PAP cooperative society Ltd as a flagship project that would change the perception and narrative of the scheme.

Nature commended Ndiomu for his unique initiatives, which he described as a demonstration of his desire to develop the economic potential of ex-agitators.

PAP strategic communication chairman urged facilitators and lead consultant, Mr Zigha to deploy his experience in helping delegates succeed in this new legacy project of the Interim Administrator.

He recalled that PAP delegates had over the years suffered in the hands of many briefcase contractors, who ended up receiving money from the amnesty office to employ delegates but failed to fulfil their part of the bargain.

Nature, who is also the National Secretary of the first phase ex-agitators advised ex-agitators and delegates to take full advantage of the life-opportunity.

Also Speaking, a business development consultant, Mr Emmanuel Benedict, enumerated the various opportunities for Small and medium-scale enterprises.