Banks Now Offering Me Loans After Turning Me Down Smart Adeyemi

Senator Smart Adeyemi (APC, Kogi West) said on Wednesday that
banks that denied him credit to run businesses are queuing to offer
him free loans in his home since he returned to the Senate.

Contributing to a motion on the raising case of unemployment in
Nigeria, Adeyemi said, “Banks in Nigeria contribute in no small
measure to the problems of unemployment in the country.

“Yesterday, I was in my house and four different banks came to
me, telling me to fill forms and take money just because I am back
in Senate. These are the banks I spoke to some months back to give
me facility to run my business but they were not forthcoming,” he
said.

He said that many small-scale industries and graduates with
business ideas are approaching Nigerian banks for facilities to
finances businesses without success, “and in most cases, the banks
asking for high interest rate of up to 40%”

The sponsor of the motion, former deputy senate president Ike
Ekweremadu, described the rate of unemployment in the country as a
time bomb about to explode.

He noted that the rising unemployment was the reason for
insurgency, kidnapping, armed robbery, cybercrimes and other vice
bedevilling the country.

He urged the Federal and states governments to declare state of
emergency on the sector and provide employment to youths in
Nigeria.

“Also, government should initiate a sustainable fund that will
provide stipends to unemployed youths” he added.

Lending voice at the debate, Senator Istifanus Gyang, said the
plight of unemployed youths is a trauma of despondency and
hopelessness that government must swiftly address.