In a bid to empower small business owners and young entrepreneurs across Oyo State, the Oyo State Government, through the State Agency for Youth Development in collaboration with First City Monument Bank (FCMB), has announced the official commencement of Point of Sale (POS) machine distribution and soft loan registration beginning Monday, July 8, 2025, at the State Secretariat, Ibadan.
It could be recalled that a stakeholders meeting was held on Monday, 30th June, 2025, at the Conference room, old local government building, Secretariat, Ibadan, on collaboration and signing of Memorandum of Understanding (MoU), between the Oyo State Agency for Youth Development and First City Monument Bank (FCMB).
In a statement released and made available to newsmen by the Head of Media Unit to the Chairman Opeyemi Rasheed Socrates, the initiative, spearheaded by the Oyo State Agency for Youth Development, is designed to promote financial inclusion, support cashless transactions, and provide easy access to funding for registered business operators, particularly in the micro, small, and medium enterprise (MSME) sector.
However, the exercise is open to all registered business owners operating within the state who can provide CAC certification, a valid means of identification, BVN, and evidence of active business operation.
This initiative is part of His Excellency Engr ‘Seyi Makinde’s ongoing efforts to enhance youth-driven enterprise, promote digital financial inclusion, and support the ease of doing business within the state.
Adebowale further stressed that;
“This program is part of Governor Seyi Makinde’s administration’s continued efforts to support youth-driven enterprises through access to digital payment systems and financial support,”.
The partnership with FCMB will also provide eligible participants access to soft loans with flexible repayment terms, aimed at scaling their businesses and improving economic participation across communities.
Officials from the state government and FCMB will be on-site to guide applicants through the registration and verification process.
The Oyo State Government encourages all interested and eligible entrepreneurs to seize this opportunity to formalize their businesses and gain access to tools that can drive growth, accountability, and sustainability.
For inquiries, applicants are advised to come to the Oyo State Agency for Youth Development for verified registration.
Venue: Ministry of local government, besides the ministry of Finance, Old Building, Secretariat, Ibadan.
Date: Monday, July 8th, 2025.
Time: 8:00am
