By Emmanuel Clement
The Executive Chairman of Odi-Olowo/Ojuwoye Local Council Development Area (LCDA), Dr. Seyi Jakande, has announced a partnership with Anchor Microfinance Bank (MFB) to launch the Ile-Owo Òdì-Olowo/Ojuwoye LCDA Loan Programme, a financial empowerment initiative aimed at providing accessible credit facilities to residents, traders, artisans, entrepreneurs and small business owners within the council area.
Jakande disclosed this after receiving the management team of Anchor MFB, which made a comprehensive presentation to members of the LCDA’s executive council on the newly introduced programme.
According to the chairman, the initiative is a carefully structured and LCDA-backed scheme designed to promote financial inclusion and support economic growth through sustainable lending rather than grants.
He explained that the programme would provide beneficiaries with productive credit facilities to strengthen their businesses, expand operations and create employment opportunities, while encouraging financial responsibility and self-reliance.
“The Ile-Owo Loan Programme is not a grant scheme but a sustainable loan model designed to empower residents and business owners with the resources needed to grow their enterprises and improve their livelihoods,” Jakande said.
He noted that the programme would be administered through a secure and dedicated platform managed by Anchor MFB to ensure transparency, accountability and long-term sustainability.
The council boss stated that the initiative was designed to cater to both emerging and established enterprises, providing them with the financial support required to increase productivity and build resilience amid prevailing economic challenges.
He added that improving access to credit remains one of the most effective ways of stimulating local economic development and creating opportunities for residents.
“By facilitating access to finance, we are creating pathways for economic empowerment and self-reliance across our LCDA. We believe that empowering individuals and businesses through responsible access to credit is key to building a more prosperous future for all,” he said.
Jakande reaffirmed his administration’s commitment to implementing programmes that deliver tangible benefits to the people, stressing that sustainable economic empowerment remains central to his vision for the development of Odi-Olowo/Ojuwoye LCDA.
Investigator news reports that the partnership with Anchor Microfinance Bank is expected to deepen financial inclusion and provide much-needed support for micro, small and medium-scale enterprises, thereby enhancing economic activities and boosting job creation across the council area.