Kunle Adelabu
His Royal Majesty, Oba (Engr.) Kabir Adewale Shotobi, Adegorushen V, First Permanent Vice Chairman, Lagos State Council of Obas and Chiefs and the Ayangbure of lkorodu, on Sunday, August 2, 2020, marked his 5th Coronation anniversary by empowering 140 traders and artisans in Ikorodu.
Oba Shotobi, who is also the Chairman, Ikorodu Division Council of Obas and Chiefs, made the presentation of the loan during a brief event at the Ayangbure palace in Ikorodu.
The historic event was witnessed by a selected gathering which included notable chiefs and personalities across Ikorodu.
Meanwhile, while addressing the gathering, Oba Shotobi stated that the anniversary should have been celebrated with projects, funfair and merriment but was made solemn due to the ravaging COVID – 19 pandemic and the need to adhere strictly with the measures stipulated to curb its spread.
He said that he, however, decided to celebrate the coronation anniversary with the empowerment of traders and artisans who are in need of financial assistance to grow and sustain their businesses.
“I have decided not to have any form of celebration this year, except to symbolically inaugurate an interest free loan scheme that I have established to assist Market Men and Women, Tradesmen and Artisans, and others in Ikorodu Kingdom who are in dire need of financial support to fund their trades and businesses”, the Kabiyesi said.
He said that an undisclosed large sum of money has been deposited in a commercial bank for the Interest Free Loan Scheme to assist traders in his kingdom.
He added that a special committee has been set up to manage the fund, adding that the loan is a revolving loan that beneficiaries are expected to make use of very well and pay back as at when due.
“A large amount of money has been deposited with a Commercial Bank here in Ikorodu and a Special Independent Committee comprising some eminent personalities has been put in place to administer the fund. I hope that the interest free loan scheme would be of great assistance to our people”, the royal father said.
“It is important to place on record that the fund to be released to the already selected beneficiaries is a revolving interest free loan and not any form of gift. Therefore, it must be used effectively to support and boost businesses and trades”.
While also admonishing beneficiaries to make judicious use of the loan, the royal father also added that those that pay back their money may be considered for improved loan.
The first class Oba also appreciated the Almighty God for making his reign peaceful and impactful on the social, economical and political lives of Ikorodu.
“It is of paramount importance to me to appreciate and give glory to Almighty Allah who has made my reign as Ayangbure of Ikorodu to be very peaceful, progressive and also to have brought tremendous positive developments to Ikorodu Kingdom, her people and residents, as well as the entire Ikorodu division”.
He was also full of appreciation for his chiefs, government, friends and associates for their support and cooperation in making his five year-old reign remarkable and impactful.
“I am indeed very grateful to all the good people, including those in government, all my chiefs, friends and associates, both at home and in the Diaspora, who have contributed in one way or the other to make my reign achieved so much within a short space of five years. God bless you all as I look forward to a better and more support as we journey forward”, Oba Shotobi said.
Asipa Kaoli Olusanya, the Asipa of Ikorodu Kingdom and former Lagos State Commissioner, speaking on the free interest loan, explained that the initiative was designed to complement the efforts of the government in empowering grassroots people and kick– starting the economy after the adverse impact of the COVID – 19 pandemic.
The Chief Learning Officer (CLO) of the Kith & Kins Educational Schools (KKES) added that the royal father deemed it fit to assist government and those in need with business support rather than organizing merriment to celebrate his 5th Coronation anniversary.
“This is a very trying period for the economy of Nigeria and most people that are affected negatively by the impacts of the pandemic are the vulnerable; the starters and petty traders who have been locked up for about five months”, he said.
“In most cases, the bread winners of families have lost their jobs and some have not been paid salaries, while others are receiving a fraction of their salaries.
‘This time, therefore, calls for resource people in the society to compliment the efforts of the government in stimulating the economy of our society.
“That is why Kabiyesi’s friends thought it wise to put resources together and truly complement the government’s effort by given interest free loans to petty traders, vulnerable and starters, rather than celebrating”, Asipa Kaoli said.
He said that the interest free loan would not only assist in growing beneficiaries’ businesses but also stem insecurity in the society.
“Because if you do that, it will also have effects on the security implication in the community. A situation where people are hungry, hopeless and in desperate conditions, of course, it will increase the level of insecurity in the society.
“We want to kill two birds with a stone with the interest free loan by supporting enterprise and also minimizing crime”, Kaoli said.
Asipa Kaoli also charged the beneficiaries to take responsibilities for their actions by making good use of the money and pay back as at when due.
“Beneficiaries must take responsibility for their lives. It is a good intention for someone to help, but “you can only take a horse to the river but you cannot force it to drink”, he said proverbially.
“They have to take responsibility. The promise of this loan is that immediately that you return the money, you are getting more. You don’t have to wait for six months to repay back. It is interest free all the time”.
The anchor of the event and Agbaakin of Ikorodu Kingdom who is also a former Commissioner in the State, Sir (Otunba) Ayodele Elesho, said that the COVID – 19 pandemic changed all the initial plans for the grand celebration of the 5th Coronation anniversary of Oba Shotobi.
“We have been planning to do a grand Coronation anniversary since last year, but in February this year, COVID – 19 crept in and changed everything”.
He said that the palace has to comply with the protocols stipulated by the government in preventing the spread of the virus by not organizing any elaborate celebration.
Sir Elesho, who stated that Ikorodu Kingdom has witnessed tremendous social, economic and political developments in the last five years of Oba Shotobi’s reign, also added that the palace instituted the interest free loan to create economic prosperity for residents.
Alhaja Risikat Abiodun Allinson, the Iyaloja of Ayangbure International Market and Iyaloja General of Ikorodu Division, speaking with THE IMPACT, commended Oba Shotobi for the gesture.
She stated that the loan being given by Kabiyesi will go a long way in impacting beneficiaries’ businesses.
Alhaja Allison also disclosed that those that are getting the loan are carefully selected to include those that will repay the loan.
Mr Shamsideen Alade Ganiyu, who received a loan cheque at the event on behalf of a trade group, said:
“It is only those that have been getting loans that would know the impact that N25, 000 loan would have on their businesses. To even get N2, 000 or N5, 000 loan these days is difficult. There are people that have not eaten in the last three days.
“This would mean so much to such people because N25, 000 is not small money. My advice is that beneficiaries should use the loan judiciously and pay back on time so as to be able to get more loan.
“Some people’s business capital is not up to N5, 000 and they are feeding themselves and families with their businesses. With this N25, 000 loan from Kabiyesi, it would go a long way in helping them.
“They should not see it as free money but to use it well and pay back as at when due. Moreover, they said that they will not take any interest”.
Mr Abiodun, a trader and Secretary of the Herb Sellers Association in Ikorodu, after the loan, said:
“I am very grateful for what Kabiyesi has done for us. This money will improve my business”.
He said that he will to take the money to the association through which he was nominated to seek approval to use the money for his business.
Mrs Bamidupe Otayomi, a hairdresser, also commended the royal father for assisting her business with the loan.
She further commended him for remembering to assist traders in his Kingdom and pray for him to reign for many years.
Mrs Otayomi assured Kabiyesi that she would work towards fulfilling the term of the loan so as to qualify for another one.
Other important dignitaries at the brief ceremony were the Majority Leader of the Lagos State House of Assembly and wife, Hon. (Chief) Sanai Agunbiade and Chief (Mrs) Adeola Agunbiade, Alhaji and Alhaja Abiodun, Oba Shotobi’s in-laws (Otunba & Yeye Odulate), wife of the Permanent Secretary, Lagos State Health Commission, Chief (Mrs) Omolara Eniayewun and the Baroyin of Ikorodu and the Publisher of Oriwu Sun Newspaper, Alhaji Monzor Olowosago among others.
