Olumide and Stephanie Aderinokun Foundation extended its interest-free loans to 200 people in Abeokuta South and Abeokuta North Local Government Areas on Wednesday, January 12.
The philanthropic gesture was the second batch of the loan initiative after residents of Odeda and Obafemi-Owode LGAs benefitted in October 2021.
The 200 people walked home with cheques of #30,000 each, and it comes with no interest for the 6-month repayment period.
In addition to the loan, free motorcycles were handed out to youths in Ogun Central Senatorial District to help as a source of livelihood.
Free motorcycles distributed to empower youths in Ogun Central Senatorial District
Akinruyiwa of Owu Kingdom and Co-founder of the foundation, Chief Olumide Aderinokun encouraged the beneficiaries not to deviate from using the loan to support their businesses.
He also revealed that his dream is to increase the loan amount to hundreds of thousands if people make refunds within the stipulated time.
The presentation ceremony which took place at the Foundation’s office in Ijeun Lodge Compound had in attendance Asiwaju Leragun of Egbaland, Chief Toyin Amuzu, the Director-General of Ladi Adebutu Campaign Organisation, Hon. Semiu Shodipo amongst other dignitaries.