The Yobe State Government has threatened to adopt harsh measures, including legal options, to recover outstanding Subsidy Reinvestment and Empowerment Programme (SURE-P) loans from defaulting beneficiaries.
The Chairman of the loan recovery committee in the state, Ahmed Mustapha, mentioned the threat in an interview with the News Agency of Nigeria in Damaturu on Sunday.
He said the committee had met with relevant Ministries, Departments and Agencies (MDAs) to ascertain the level of recovery and the unpaid loans by the beneficiaries.
“The committee observed with utter dismay the slow pace of repayment of the loans by the beneficiaries.
“The committee also had reservations with the manner in which funds recovered by the respective ministries, departments and agencies were handled,” he said.
Mr. Mustapha, who is the Commissioner for Justice in the state, said that a dedicated account for remittance of all funds recovered by the MDAs had been created under the Ministry of Finance.
“In view of the foregoing, the committee is therefore urging all stakeholders including the loan beneficiaries, MDAs and their guarantors to ensure payment and remittance of the funds into the dedicated account.
“Failure to comply with these directives will leave the committee with no option than to take all necessary measures to recover such loans,” he warned.
The Yobe Government gave out vehicles, tricycles and grinding machines under the SURE-P loan revolving scheme to persons in the 17 local government areas in the state.
The MDAs involved in distribution of the loan include Ministry of Youth, Sports and Social Development, Ministry of Women Affairs and Small Scale Industries.