OSAMCA Trains Credit Officers On How To Improve On Loan Recovery Performance - EDU-BIZNEWS


Wednesday, May 10, 2023

OSAMCA Trains Credit Officers On How To Improve On Loan Recovery Performance


Ogun Agricultural and Multipurpose Credit Agency (OSAMCA) has trained 40 of its credit officers on how to improve on the agency's loan recovery performance and service delivery, in order  to empower more Micro, Small and Medium Enterprises (MSMEs) through the provision of interest-friendly loans  

The State Commissioner for Industry, Trade and Investment, Mrs. Kikelomo Longe, whose Ministry supervises the Agency explained that the training would help the credit lender fulfill its mandate of tackling poverty, unemployment, food insecurity by providing timely and adequate credit support to small and medium scale farmers and entrepreneurs.

Longe was represented by the Permanent Secretary in the Ministry, Dr. Olu. Ola. Aikulola, at the two-day training which has its themed, " Effective and Efficient Credit Management" held in Abeokuta, 
added that Credit Officers need to be well grounded in financial literacy, formalisation of records, credit appraisal, mitigation of credit risk and many more, which are fundamental in any loan disbursement and repayment procedures.

She stated that the training would also deepen the knowledge of the Officers on how best to provide timely, adequate and cost-effective credit support to entrepreneurs in the State, assuring that the Prince Dapo Abiodun-led administration would continue to provide a conducive working environment to enable the Agency to accomplish its mandate.

Declaring the training open, Chairman, OSAMCA, Princess Feyikemi Egbeyemi said the training was organised to enhance the Agency's credit performance as it provides credit facility to MSMEs in the Agricultural and non-agricultural sectors.

Egbeyemi, who lauded Governor Dapo Abiodun for approving the training, charged the participants to utilise the knowledge gained at the programme to improve their service delivery.

The Chairman stressed that Credit Officers need to adequately play their role as advisors by providing the necessary advice to ensure only qualified applicants obtain loan forms, adding that the Agency is determined to enable applicants obtain loans within five days of loan request.

Delivering the lecture titled, "Microfinance Institutions Management and Challenges in Nigeria", the Resource Person, Prof. Sunday Enilolobo identified default in loan, improper regulations, political interference as some of the challenges limiting Microfinance institutions in Nigeria calling on the State government to support the Agency through increased funding to enable more qualified agric and non-agric MSMEs access loans from the credit lender.

Also speaking, two of the Credit Officers, Mrs. Yetunde Oduntan and Mr. Olayinka Alimi, said the training had exposed them to strategies that would help them discharge their duties effectively assuring that the knowledge gained would be well utilised.

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