Lagos licenses 184 money lenders
The Lagos State Government says it has licensed 184 money lenders to enhance money lending activities in the state.
He said that their activities were increasing the socio-economic status of the state through the provision of enabling environment for small scale businesses and entrepreneurship. “During the COVID-19 lockdown, the ministry automated the processing of money lending licenses, so as to ensure a hitch-free renewal and fresh applications.
The commissioner said that prior to the automation of the money lending processes, the ministry had held a Stakeholders’ Forum on the need to examine the laws guiding the activities of money lenders in the state. Mr Elegushi said that this was with an emphasis on pragmatic strategies for achieving positive and cost-effective results in grassroots financing, which would invariably help in achieving the T.H.E.M.E.S Agenda.
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