Obi of Onitsha hailed for securing N35m MSME loan for 70 youths


Anambra state government has commended the Obi of Onitsha, Igwe Nnaemeka Alfred Achebe for guaranteeing seven multi purpose co-operative societies for the ANSG/CBN Micro, Small and Medium Enterprises (MSME) fund credit facility, amounting to N35,000,000.00.

The credit facility was issued by the
Anambra Small Business Agency (ASBA) in 2016 to 70 youths from Onitsha who registered under the seven co-operative societies.

Presenting a commendation letter to the monarch at his palace, Managing Director of ASBA, Chief Clement Chukwuka described the gesture as
exemplary, saying Achebe guaranteed the loan regardless of risks to his person and the throne.

He said the Agency had requested the monarch guaranteed the loan only, but noted that he went further to issue and sign seven open cheques for each of the co-operative societies.

He said, “Igwe Achebe reposed total confidence in the youths and didn’t worry about the possibility of a default in repayment of the facility. Rather he prioritized the empowerment of the youths and placed their needs first.

“He expressed profound benevolence and astounding integrity, at the same time no reservation in securing the loan for his subjects.

“Agbogidi also wrote an irrevocable letter of guarantee and registered same in the Onitsha high court. In other words, he gave us full authority to recover the money from him should any of the youths default.

“This is the kind of exemplary leadership that all traditional rulers and indeed everyone in leadership position in Anambra state should emulate.”

Responding, Igwe Achebe thanked Governor Willie Obiano for creating an agency that supported MSMEs and provided funding for youth empowerment and entrepreneurship.

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He praised the youths for their faithfulness in repaying the loan, saying the trust reposed in them was not in vain.

Chairman of Onitsha North LGA, Mr Patrick Agha MBA, noted that the gesture showed the sincerity of the agency and the genuine commitment of the state government to truly empower the youths.

One of the beneficiaries, Ms Nwozie Frances appreciated the Royal father for staking his integrity to secure loans for them, just as she thanked the state government for helping her realise her dreams.

She said, “I am a cobbler today and I am proud to say that I produced the gladiator sandals used during Igwe Achebe’s ofala festival in 2018 and 2019. I make good foot wears and my business is thriving, all thanks to Gov Obiano and ASBA”.


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