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No interest on LSETF loans

The Lagos State Governor Mr Babajide Sanwo-Olu has stated that there will no interest payments on the N2.8billion loans given out by the Lagos State Employment Trust Funds LSETF to Micro, Small and Medium Enterprises (MSMEs) in the state.

The Governor made the proclamation in a press conference today where he announced the State Government’s new palliatives to cushion the effects of the extension of the lockdown in the state by President Muhammadu Buhari and the effects of the coronavirus pandemic on MSMEs. He also approved a 3-months moratorium on the loans furtherance to the directive.

He stated that the new tranche of palliatives to be rolled out by the State Government will be targeted towards groups and bodies that will aid the ease of distribution to the downtrodden in the society. Targeted groups include religious bodies, traditional worshippers, ethnic groups, all political parties’ members, artisans and staff of tertiary institutions within the State.