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Home Economy Socio Economic

Victims of #EndSARS protest receive interest free loans worth N10.5 million

Omokolade Ajayi by Omokolade Ajayi
December 8, 2020
in Socio Economic
Victims of #EndSARS protest receive interest free loans worth N10.5 million, #EndSARS: A day by day timeline of the protest that has brought Nigeria to its knees.

EndSARS protesters

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Chief Executive Officer, Silicon Valley Nigeria Economic Development, Chief Temitope Ajayi, has given out interest-free loans worth N10.5million to victims of the EndSARS protest.

The philanthropist, while given out the second tranche of the interest-free loans worth N10.5million, on Monday in Lekki, Lagos, expressed delight over the beneficiaries’ commitment towards being financially independent, while maintaining their status as responsible citizens of the country.

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According to a news report by NAN, Chief Ajayi disclosed that the beneficiaries who were able to pay off their initial loans got double the amount in the second tranche of the disbursement of the loan facility.

What you should know

  • The philanthropist, however, gave out the first tranche of the loan three weeks ago.
  • The loan facility which was specially designed for the EndSARS Nigerian youths was provided by Silicon Valley Cooperative Multipurpose Society in partnership with Global Connection for Women Foundation (GC4W) and Masterplan Finance UK Ltd,
  • During the disbursement of the first tranche of the loan facility, each of the more than 200 EndSARS victims got a loan of between N40,000 and N80,000, depending on the kind of investment they chose to engage in.
  • According to the CEO of Silicon Valley Nigeria Economic Development, those that got N20,000 during the disbursement of the first tranche received N40,000, and prizes like umbrellas, food warmers and more.

READ: CBN warns MfBs against hoarding as lenders begin to disburse N100, other lower notes 

What they are saying

Chief Ajayi said, “The entire gesture was done by Silicon Valley Cooperative Multipurpose Society in partnership with Global Connection for Women Foundation (GC4W) and Masterplan Finance UK Ltd, specially designed for the EndSARS Nigerian young adults.

”Our goal is to heal and revive Nigeria through helping the youths, empowering them and saving the country from destruction.”


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Tags: #EndSARSGlobal Connection for Women FoundationNigeria NewsSilicon Valley Cooperative Multipurpose Society
Omokolade Ajayi

Omokolade Ajayi

Omokolade Ajayi is a graduate of Economics, and a certificate holder of the CFA Institute’s Investment Foundation Program. He is a business analyst, and equity market researcher, with wealth of experience as a retail investor.

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Comments 3

  1. Anonymous says:
    December 8, 2020 at 6:12 pm

    40,000,20,000 for those resourceful guys and ladies that even on their own raised money to feed,and solve most of their problems ,while at the protest ground .really rubbish ,tell the truth who is bankrolling you ?

    Reply
  2. Helen Olajide says:
    December 8, 2020 at 7:27 pm

    The Lord will bless all these organisations. Your generations even yet unborn will not be in want of any good thing. The Lord shall prosper you beyond your imaginations. Kudos to you. Iam a parent to youths and I see there struggles. Our leaders have been recycling themselves from my own youth. God will judge

    Reply
  3. uchechukwu promise Ordu says:
    June 7, 2021 at 3:08 am

    God bless Nigeria. I need federal government Loan

    Reply

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