Osun State Government has announced the release of the first batch of beneficiaries of it’s Vehicle Refurbishing Loan approved by the Governor, Adegboyega Oyetola, for various categories of public servants.
A statement by the Vehicle Refurbishing Loan Committee after its meeting at the State Secretariat on Monday, stated that successful applicants should check their names at designated points within the state secretariat.
The committee added that the loan, expected to be paid back within a maximum of five years of 60 instalments, would be a continuous exercise.
It then congratulated the first batch of beneficiaries, as it enjoined other workers that were yet to benefit, to be hopeful.
While thanking public servants for allowing the committee to work without undue interference, “they urged successful applicants to proceed with immediate effect the purchase of agreement forms through their respective Ministries, Departments and Agencies.
“It will be recalled that Governor Adegboyega Oyetola recently approved the resuscitation of the loan with the rates as follows: grade levels 1-3 to obtain N200,000.00, while officers on grade levels 4-6 will be eligible to a loan of N250,000.00 with those on grade levels 7-8 to earn N350,000.00 loan. Those on grade levels 9-10 will be eligible to a loan of N400,000.00.
“For the senior categories, a grade level 12 officer will be entitled to a loan of N500.000.00, those on grade levels 13-15, N600.000.00 while levels 16-17 officers will have the opportunity of obtaining a N750.000.00 loan.”
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