Ex-Prisoners Advised To Form Co-operative Societies

Former prisoners, businessmen and women have been advised to form themselves into cooperative societies to be able to access loans and grants from banks and government institutions.

Giving this advise at a seminar organised by the Prison Rehabilitation Mission International, PREMI, at the Women Development Centre, Agege, Lagos, the zonal manager of Bank of Industry, BOI, Mr. Sani advised businessmen and women to form cooperative societies to be able to get financial assistance.

He explained that a cooperative society must have a minimum number of of 10 members and maximum of 20 people with genuine intention.

He disclosed that the bank can grant loan to a cooperative society up to half a million naira with five percent interest per annum.

“Business is not all about money, but personal development,” he added.

He advised particpants to have a business strategy to succeed in any business, adding that decision making is important in any business.

The Director-General of PREMI, Bishop Kayode Williams, JP, explained that the seminar was organised to eradicate crime and assist ex prisoners enjoy facilities from banks.

—Akinsola Amudalat & Areo Oluwatosin