The Edo state government in collaboration with the Bank of Industry EDSG/BOI, has inaugurated a six –man Committee to recover debt owed it by defaulting loan beneficiaries across the State.
Addressing members of the Committee in Benin City, yesterday, the State Commissioner for Commerce and industry, Barr. MacDonald Obasuke charged the Committee members, to leave above board and avoid acts that could mar the objectives for which it was set up.
Commissioner Obasuke stressed that the task of debt recovery was an enormous assignment but explained that with passion and prudence the Committee could achieve its objectives.
The Commerce and Industry Commissioner explained  that it was unfortunate that certain beneficiaries of the Edo State Government and Bank of Industry (EDSG-BOI) Loan Scheme refused to pay back the loan that was granted to them, knowing fully well that the facility was revolving in nature. He advised the defaulters   to co-operate with members of the Debt Recovery Committee by ensuring their payment to avoid possible legal action.
Speaking, Chairman of  the Debt Recovery Committee, and Special Adviser to the Governor on SMEs, Mr. Daniel Akhilele, assured that the Committee will not compromise in its line of assignment and lauded the State Government for the opportunity given them to serve in that capacity.
The committee’s terms of reference include, to ascertain the actual amount owed as at 31st May, 2015 by beneficiaries of the EDSG-BOI Micro Credit Scheme visit the beneficiaries with a view to recovering the total amount owed the Scheme.
Notify the beneficiaries’ guarantors of the indebtedness with a view to getting them to assist in facilitating the recovery of the loans as well as recommend measures and any other useful information towards the recovery of the loan.
Members of the EDSG-BOI Debt Recovery Committee are: Mr. Daniel Akhilele, Chairman; Ms. Osayuware Idahosa, Permanent Secretary, Ministry of Commerce and Industry, member; Mr. Festus Okougbo, Director of Industry, Member, Mr. Chris Omondiagbe Representative of Bank of Industry, member; K. B. Ugiagbe Esq. Representative of Ministry of Justice, Member, while Mr. Omonbude S. Oyedoh is to serve as Secretary.
The Committee has four weeks to complete its assignment.