The hope of the people of Isanlu, headquarters of Yagba East Local Government Area, was renewed on Saturday as the Agbana of Isanlu launched the Royal Citizens Co-operative, a financial credit facility aimed at boosting the economic activities of the people of Isanlu and its environs.
Also present at the colourful ceremony were the Chairman of the Area, Joshua Dare Monday; the member representing Yagba East at the State House of Assembly, Hon. Emmanuel Obaro; and traditional rulers, among others.
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The launch comes six years after the only first-generation bank in the community was attacked and destroyed by gunmen, causing untold hardship to residents who now travel many kilometres to access banking services.
The Agbana of Isanlu, in his remarks, described the launch as a new dawn for the people of the community, calling on residents to see the presence of the co-operative as an opportunity to boost their economic lives.
According to Oba Etombi, money collected from the co-operative should be invested and used for the purpose for which it was collected, pledging the community’s commitment to the actualisation of its aims and objectives.
Also speaking, the Chairman of Royal Citizens Co-operative, Dr. Toyin Akanle, an elder statesman, described the rapid spread of the co-operative society as a result of its focus on set goals.
According to him, the financial organisation is responsible only to people who are committed to building their businesses.
“Investment is the ultimate. In one of our branches, someone collected a loan of N30,000 and paid it back, then asked for N60,000 and paid that back too. As of now, she is collecting over a million naira because she was using the money to grow her business.
“We are ready to partner with you to grow your business. You cannot be rich, you cannot be wealthy, if you cannot save. So no matter how small it is, save it, invest it, grow it, and you can do other things with it.”
He urged the sons and daughters of Isanlu Kingdom, both at home and in the diaspora, to support the dream, as it will improve small-scale businesses in the area.
Dr. Akanle appealed to the people to change their attitude to spending and see meaningful investment as the only way of creating wealth.
In his remarks, the President of Royal Citizens Co-operative, Sowemimo David, told the gathering that the financial facility has spread to seven states, including the Federal Capital Territory (FCT), and has been promoting savings.
According to him, Isanlu Kingdom deserves a financial partner to help its people develop their businesses, hence the establishment of the facility.
He maintained that the core services of Royal Citizens Co-op are anchored on thrift contributions, micro-credit, and agency banking operations, among others.
The Chairman of the Local Government, Dare Joshua, said that under his administration, the co-operative has come to stay, and the council will do everything humanly possible to ensure it succeeds.
He stated that the local government is ready to cooperate with the co-operative society, especially in the area of security, adding that the credit facility will improve the socio-economic life of the local government.
He appealed to the sons and daughters of Yagba East to emulate Dr. Akanle and invest in the local government, pointing out that investment opportunities abound in Yagba East.
On his part, the member representing Yagba East Constituency, Hon. Emmanuel Obaro, reiterated his commitment to supporting any programme that will make life better for the people.
