The Ekiti State Government has authorized the allocation of an additional portion of car loans amounting to N136,260,000 for 368 civil servants.
This announcement was made by Akin Oyebode, the Commissioner for Finance and Economic Development, who confirmed that Governor Biodun Oyebanji has sanctioned the injection of N200 million into the loan program.
Oyebode also revealed that the governor has endorsed the settlement of outstanding deductions from salaries to cooperative societies and the Federal Mortgage Bank, amounting to N174,394,176.88.
Elaborating on the disbursement, Oyebode explained that the loan beneficiaries will receive varying sums, ranging from N80,000 to N1.5 million, depending on their respective grade levels.
Specifically, he outlined that 22 officers in grade levels 2 to 6 will each receive N80,000, while 180 beneficiaries in grade levels 7 to 10 will be granted N250,000 each.
Additionally, 150 employees in grade levels 12 to 14 will receive N500,000 each, 13 individuals in grade levels 15 to 17 will be awarded N750,000 each, and three beneficiaries with consolidated salaries will obtain N1.5 million each.
The commissioner also recalled that in December 2022, a total of N130.7 million was disbursed as car loans.