Oyebanji okays N596m car, housing loans for teachers, others

Ekiti State Governor, Biodun Oyebanji, has approved the disbursement of N596.6 million as car and housing loans to 807 teaching and non-teaching staff in the state public secondary schools.

The Permanent Secretary, Ekiti State Teaching Service Commission, Michael Boluwade, in a statement on Tuesday, said it was part of efforts to improve the beneficiaries’ welfare and boost their morale.

Boluwade said, “Out of the total amount approved for disbursement, N381.5m is earmarked for payment of car loan to 382 beneficiaries, while N215.1m will be disbursed as a fresh tranche of housing loan to 425 beneficiaries.

“The loans, which are in accordance with the new rate of 100 per cent increase earlier approved by the governor, will be paid to qualified personnel,” he said.

The Pem Sec appreciated the governor, Oyebanji, for approving additional funds to complement the revolving funds of the commission’s Loans Board in effecting the new rates of disbursement.

He advised the beneficiaries to use the money for the purposes they were meant for, reminding them that they would pay the money back through direct deductions from their monthly salaries.

Recall that Oyebanji had said during the 2025 Workers’ Day celebration that his administration had implemented programmes and policies that positively impacted workers’ welfare.