The beneficiaries on Thursday 1st April 2021, under the aegis of “Association of Ika CBN AGSMEIS Borrowers of Agbor, Delta”, held a peaceful protest at the premises of NIRSAL Micro-Finance Bank Limited, Agbor, Ika south local government area, demanding for their freedom to manage their loan or be allowed to choose a vendor for themselves.
The protesters, however, lauded President Muhammadu Buhari for the scheme and the CBN Governor, Godwin Emefiele for the prompt implementation and approval of the loan scheme.
They said that if their requests fails, they may be forced to abandon the scheme because of the imposition and exploitation of the vendors, chanting solidarity songs and had displayed placards of various inscriptions such as; “We don’t want vendors; No to economic exploitations; Give us freedom to manage our loans and Give us our loan”.
They said they should be allowed to manage their loan because they are responsible for it and would be held accountable after six years.
Addressing newsmen in Agbor, the association’s Secretary, Revd. Godswill Nwaodun explained that it was a breach of their freedom of choice by the operating bank” NIRSAL” to impose a particular vendor on Delta beneficiaries.
According to Nwaodun, CBN gave the beneficiaries numbering over 1, 000 operators of SMSEs loan of N5 million or less depending on beneficiary ability and business size in the state.
“On Feb. 12, 2021, CBN AGSMEIS granted loan of N5 million to me and other members of this association; N1.5 million for working capital while N3.5 million for equipment capital. All borrowers are to select vendors from among the list registered vendors by the bank for the supply of equipment in order to implement the project.
“Some of us have received alert from our banks but could not access the loan because of the restrictions from the managing bank, ”NIRSAL” which has imposed a vendor on us and had prevented us from choosing vendors ourselves.
“We have made several attempt when we invited the NIRSAL managers in Asaba, Agbor and Ubulu-Uno in the state to resolve the issues in good time but they turned it down; we have four vendors from the South South zone that we can choose from but we are forced to accept one vendor.
“The particular vendor forced on us has made things tougher for us, we have been exploited and supplied substandard equipment with quoted higher prices than the existing market price”.
The association Chairman, Mr Gabriel Aduwa, said that the process of securing release for the loan has become cumbersome due to the activities of the vendors.
“If they continue to impose this particular vendor,”Faicec Group Nigeria Limited, we shall discontinue with the loan. We have our guarantors who are ready to payback the loan in case of failure but we are committed and we want to manage our loans ourselves, we don’t need vendors,” Aduwa said.
Other members of the association who took turns to speak their grievances, also appealed to the state governor, Dr. Ifeanyi Okowa to intervene in the matter.
According to Mr. Enjoyment Melewe, it is impossible for a vendor who does not have any knowledge of oil palm production to procure a durable equipment for oil palm production.
Miss Nkechi Aigbenasey ,a caterer, who got N4 million loan, appealed to Gov. Okowa and the CBN governor to intervene.
“I know what I want and I can manage the funds to buy the real equipment that I need, instead of allowing the vendors to shortchange us by eating part of the loans that we the beneficiaries will eventually have to pay, we can carry on without the vendors,” she said.
Responding on behalf of NIRSAL Micro-Finace Bank, Agbor, Mr. Barnard Chidi, Credit and Marketing Office, of the bank, said that there was no connivance between the bank and the vendor, assuring the protesters that the authorities of the bank is already looking into their issues.
“You have two complaints, the first is the monopoly of vendor and the second is over invoicing by the vendor, we will take your grievances to Abuja. But already, your issues are being addressed by the bank in Abuja and in a short time, we shall let you know the outcome,” Chidi said.
