Ekiti State Governor Approves Car Loans for Civil Servants

Governor Biodun Oyebanji of Ekiti State has authorized the disbursement of N361.5 million as car loans to 544 workers within the state’s public service. The announcement came from the Commissioner for Finance, Mr. Akintunde Oyebode, who disclosed the details in a statement released on Friday.

According to Oyebode, each beneficiary will receive car loans ranging from N250,000 to N2.5 million, depending on their salary grade levels. Governor Oyebanji also approved an additional N200 million to expand the funding pool of the loan scheme, aiming to accommodate more participants.

In further developments, the governor increased the individual loan amounts by 100%, enhancing the benefits for civil servants eligible for the scheme. To qualify, employees must have served for at least five years, have a minimum of five years remaining in service, and demonstrate the ability to retain at least 50% of their monthly gross pay after loan deductions.

This initiative builds upon previous efforts by Governor Oyebanji, who previously authorized N136.3 million in car loans for 368 civil servants in October of the previous year. The ongoing commitment to providing financial assistance underscores the state government’s dedication to supporting its workforce and enhancing public service efficiency in Ekiti State.