The newly appointed Executive Chairman of the Ondo State Micro Credit Agency (OSMA), Mrs Oyinkansola Aroloye, has pledged to recover outstanding loans disbursed by the agency and expand access to credit for small-scale business owners, entrepreneurs and artisans in the state.
Aroloye made the commitment after newly resuming office in Akure.
She said her administration would constitute a Recovery Committee to track and recover funds owed by beneficiaries across the state.
According to her, recovering the outstanding loans is necessary to ensure that government funds continue to serve their intended purpose of empowering more people.
“I have been told that a lot of our money is outside, not yet paid back. We need to recover those ones and empower our people the more with the help of the state government,” she said.
Aroloye, who was appointed by Gov. Lucky Aiyedatiwa on Sept. 22, said the welfare of staff and the people of the state would be among her major priorities.
She said she would first assess the existing operations of the agency before introducing new policies or making adjustments where necessary.
“My priority is also the welfare of my staff. I also need the cooperation of the staff to make sure that all of us work together.
“Secondly, it is the welfare of our people, the masses, the small-scale business owners, entrepreneurs and artisans, among others.
“If what they have before is okay, we will build on that. But if I discover that there are some things that need to be adjusted, we will adjust,” she said.
The OSMA Chairman said the recovery process would be handled firmly, particularly in cases involving beneficiaries who had defaulted despite having collateral for the loans.
She explained that the agency would dispose of pledged collateral in accordance with applicable procedures where borrowers persistently refused to repay.
“When you borrow money, your intent is to pay back. So, when you are not ready to pay back, whatever you use as collateral will be disposed of,” she said.
Aroloye, however, said the agency’s focus would not be limited to loan recovery, as she also planned to expand its empowerment programmes.
“Definitely, we have the intention for expansion because that is our objective here. We want to give more, but we will collateralise it,” she said.
Aroloye, who hails from Ijare in Ifedore Local Government Area of Ondo State, said her administration would work with staff and other relevant stakeholders to strengthen the agency’s programmes and ensure that its interventions reach more beneficiaries across the state.
