Oyo govt sets aside N3bn for car loan scheme

07.03.2008

OYO State government has set aside N3 billion as car loans to its civil servants.

The Special Adviser to the Governor on Labour Matters, Mr. Segun Aboke, disclosed this Thursday in an interview with the News Agency of Nigeria (NAN).

He said that officers on Grade Levels 09 and above would benefit from the scheme.

The scheme, which has a five-year loan repayment period, is being implemented in partnership with the state Trade Union Congress (TUC), Cherry Cars’ manufacturer and Equatorial Trust Bank.

Aboke said the loan scheme would enable senior civil servants in the state to own brand new cars.

He said over 5,000 civil servants had collected interest expression forms at N2,500 each within the last two months.