FINANCIAL INSTITUTIONS, REGULATORY BODIES ENLIGHTEN CORP MEMBERS ON NUMEROUS OPPORTUNITIES
The Representative of the Central Bank of Nigeria, Mr Okeowo Kayode took the members through the various funding options available for them to start up their businesses or to sustain an existing business.
According to him, fund is a language everyone understands, and everyone needs funds to connect their businesses and enterprises. He educated the corps members on the various sectors in which the apex Bank assist in funding, which Include the Agricultural, health, manufacturing, infrastructural sectors, to mention but a few.
More so, he listed several functions of the apex Bank which ranges from Business expansion for start-ups with the provision of access to available credit, encouraging export and foreign exchange reserve, to increase lending to high impact and employment, e.t.c.
While educating the Corps members on funding incentives, he pointed out to the Corps members on why a collateral is submitted in other to obtain a loan, with an interest of 5%.
As he concluded, he pointed out that one can only apply for a loan of five (5) million naira minimum, gain clarity on the reason for the loan application, apply for loan through their bank, and must obtain a Certificate of Occupancy (CO).
Mr Gbenga Neye of the Bank of Industry, also educated the Corps Members on several benefits they stand to gain as they partner with the Bank of Industry. The BOI has been given mandate to support any Business in Nigeria.
In addition, according to Him to partake in this support, Corps members were enjoined to register their businesses or have idea of a particular service they wish to venture into.
He stated that ever since partnering with the NYSC, many youths have been assisted by the Bank to start up their businesses or build on an existing one.
Meanwhile, the Standard Organization Of Nigeria have intimated the members on the ethics guiding the body's operation.
QS Mayowa Olasupo, who represented the State Coordinator of the Standard Organization of Nigeria (SON) enlighten the corps members on the factors and criteria put into consideration in determining the standard of a product.
According to him, standards are consensual, technical documents containing the requirements that a product is expected to comply with, be it product or service standards. He highlighted the necessities of standard as it creates orderliness, ensures that products/services meet the needs of customers, ensures customers satisfaction, and gives room for continuous improvement. " standard improves the quality of life", He added.
He pointed out to the Corps members that any product with the SON logo, shows that such a product is good for consumption, as it has passed every necessary requirement for standard. As he progressed, he outlined the activities of the SON, which includes inspection of facility, intermediate product testing, periodic inspection, quality control facility, distribution and sales activities through effective market survey.
He admonished corps members with a business in mind, to visit the SON office, make consultation on the standard of the product they intend to start up with, before embarking on it. He enjoined the Corps members to join the fights against substandard products in our community, and patronise products endorsed by the SON.
Speaking on food and drug regulations, the Delegate of the National Agency for Food and Drug Administration Control, Mrs Suleiman Yemi intimated the Corps members on the activities of NAFDAC.
According to her , NAFDAC is mandated to carry out and regulate the importation, exportation, distribution and advertisement of Food, Drugs, Cosmetics , Chemicals etc.
Again, she pointed out that NAFDAC also undertakes inspection of facilities, registration of micro and small scale industries such as cupcakes , bread, chin-chin , to mention but a few.
She concluded by educating the corps members on the requirements for registering with NAFDAC, and thereafter, encouraged them to register their products with NAFDAC.
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