NYSC Goes After 75 Ex-Corp Members For Refusing To Repay N300k & N400k Loans

Date: 25-06-2019 12:30 pm (4 years ago) | Author: CLARA JANCITA
- at 25-06-2019 12:30 PM (4 years ago)
(f)


The National Youth Service Corps (NYSC) Foundation is now on the trail of 75 corps members who took between N300,000 and N400,000 loans to start small businesses but refused to pay after four years.

Herald Nigeria learnt that the defaulting corps members used their certificates as collateral during their service year, as that was the only way to access the loans.

But the corps members had abandoned their certificates with the foundation for almost four years.

The NYSC Foundation Chief Executive Officer, Bako Ventim, disclosed this on Monday during the opening of Skills’ Acquisition and Entrepreneurship Development workshop at the NYSC Orientation Camp in Kubwa, Abuja.

The director said,
Quote
“We have been providing loans to corps members and our interest rate is one digit. There is no collateral except the NYSC certificate and two guarantors. We make the conditions very flexible so that the corps members can benefit from these loans.

“We have a challenge where corps members have refused to pay back the loans. We have over 100 corps members who took the loans but some of them have not paid back and we still have their NYSC certificates with us. They have not come to claim these certificates for a number of years.

“We give as much as between N300,000 and N400,000 depending on the business proposals. From the records, we have over 75 corps members that have defaulted and we are pursuing them.”


Posted: at 25-06-2019 12:30 PM (4 years ago) | Hero
- kp45 at 25-06-2019 02:37 PM (4 years ago)
Online (m)
Change compare to what our leaders are stealing.
Posted: at 25-06-2019 02:37 PM (4 years ago) | Addicted Hero
Reply
- kp45 at 25-06-2019 02:38 PM (4 years ago)
Online (m)
Change compare to what our leaders are stealing.
Posted: at 25-06-2019 02:38 PM (4 years ago) | Addicted Hero
Reply
- amasan1 at 25-06-2019 04:40 PM (4 years ago)
(m)
How will they be able to pay back when the economy is bad. Lol
But in the real sense, dear corps member, this is not national cake pay back so others can access the loan.

Posted: at 25-06-2019 04:40 PM (4 years ago) | Hero
Reply

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