SPRING BANK PRESENTS TRICYLCES, BUS TO UNION

In line with its policy of empowering individuals and organizations, Spring Bank Plc on Thursday, presented 100 tricycles and 100 buses to the National Union of Road Transport Workers, Lagos State Council.

The vehicles, which were financed by the bank to the tune of over N300m, are expected to be distributed to members of the union with agreed terms of repayment.

The Managing Director/Chief Executive, Spring Bank, Dr. Suleiman Ndanusa, said the move was one of the bank’s several ways of alleviating poverty at the grassroots, adding that government could not be left alone to do every thing.

Ndanusa, who was represented at the presentation ceremony by the Executive Director, Risk Management, Mr. Austeen Avwunufe, noted that transport was crucial to national development, stressing that every hand must be on deck to encourage the operators in the industry.

“We are highly elated about this event. We congratulate the NURTW for extending this service to its members. Nigerians are quite industrious people. We are solidly behind this project and will continue to assist in any way possible because the government cannot do all,” he said.

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While advising the union to ensure proper supervision in keeping the project alive, he said that the bank intended to assist the union with 1,000 buses.

The Sole Administrator, NURTW, Lagos Council, Mr. Steven Falusi, commended Spring Bank for funding the project and empowering NURTW members.

He said this would go a long way in reducing touting and providing means of livelihood for the members.

He urged members to make best use of the funding opportunity and assured that they would not disappoint the bank.

According to him, “We are quite happy with what Spring Bank is doing for us. It is quite laudable. One thing I can say here is that we will not disappoint them. I enjoin our members to make good use of the buses and remit the agreed amount to the union without fail. As soon as the payment is completed, the buses become the beneficiaries’ own.”

The Regional Director, Spring Bank, Lagos Mainland, Mr. Isaac Oghogho, said the bank had so far spent over N300m on the acquisition of the buses.

He said beneficiaries were expected to remit an agreed sum of money to the union on a weekly basis, adding that once payment was completed in 18 months, the buses would become theirs.

He observed that the bank would continue to fund private initiatives and cooperative societies with a view to assisting in the development of the economy.