Read the criteria for accessing N6.25bn Employment Trust Fund

The Lagos State Government has listed criteria that applicants for the N6.25billion Employment Trust Fund (ETF) must meet to be eligible for the fund.

At an awareness and sensitisation programme organised by the Office of Civic Engagement, yesterday, Commissioner for Wealth Creation and Employment Mr Babatunde Durosinmi-Etti said only those who need the fund would be given.

The commissioner explained that the funds which will be given out as loan to beneficiaries at the interest rate of three per cent can be accessed only by Lagos residents and tax payers who have their own businesses.

Durosinmi-Etti said: “The beneficiary must be a taxpayer, has two credible guarantors who are equally tax payers and have registered with the Lagos State Residents Registration Agency (LASRRA).”

The Commissioner also disclosed that the disbursement of funds to the first set of beneficiaries of the ETF is expected to commence in September.

Durosinmi-Etti while addressing the gathering explained that the idea behind establishing the Trust Fund was to create an inclusive process where every Lagos residents that have businesses will have equal opportunity to access the fund.

He said the objective was to cushion the unemployment challenges in the country by making funds available to entrepreneurs that will employ others.

He said the sum of N25billion has been set aside under the ETF over a period of four years, adding that N6.25billion has been released by the governor to the board for disbursement in the current year.

Commissioner for Justice and Attorney-General Kazeem Adeniji, who was represented by Mrs Tola Akinsanya, said the loan was not given out for free but to be paid back by the beneficiaries.

Special Adviser to the Governor on Civic Engagement, Mr Kehinde Joseph, said the awareness programme was geared towards sensitising the youths and indeed everyone about the trust fund and how to access it.

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