In a bid to help small and medium scale businesses stay afloat, the Lagos State Government has registered 400 money lenders who will give loans to business owners at a very low-interest rate.
The focus is on profiling and monitoring the viability of such companies in ensuring that while the money lenders are in business, the residents are also protected from scammers and people of questionable character, while also regulating the activities of the companies.
Commissioner for Home Affairs, Prince Anofiu Elegushi made this known at the Ministerial press briefing held in Alausa Ikeja to commemorate the second year anniversary of the present administration.
It would be recalled that the state government had in June 2020, licensed 184 money lenders, with Commissioner Elegushi saying during the Ministerial Press Briefing to mark the first year in office of Gov. Babajide Sanwo-Olu, that the money lenders were the mini-micro economic stimulants in Lagos State that created jobs, generated wealth, alleviated poverty and widened the tax net.
