Rosabon Unveils Collateral-free Loan for Civil Servants

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Chukwuma Ochonogor

Rosabon Financial Services has announced collateral-free and guarantor-free loans as low as N40,000 and up to N6 million to cater to civil servants in light of the COVID-19 pandemic.

According to a statement, the initiative was part of measures by the company to support civil servants who are currently affected by the lockdown and have their payroll handled by the Integrated Payroll and Personnel Information System (IPPIS).

Speaking about the public sector loan package, Managing Director of Rosabon Financial Services, Mr. Chukwuma Ochonogor said: “Rosabon is indeed proud to provide solutions for our customers in their time of need. There is no gainsaying the fact that the lockdown has placed many civil servants in a huge financial predicament.

“While loans and other credit are usually hard to get hold of, obtaining a loan for many public sector workers may be more difficult during this lockdown period.”

Currently, the federal government has mandated that civil servants’ salaries should be paid to mitigate the impact of the lockdown.

However, some states were yet to pay their workers and this has affected many workers’ ability to buy food and other necessities and may cause severe hunger during the stay at home order to curb the spread of the deadly coronavirus disease.

“With the Rosabon Public Sector Employees’ Loan, civil servants, upon meeting the set terms and conditions, now have the advantage of accessing affordable loans with a flexible repayment tenor of up to 24 months with favourable interest rates,” he added.

In addition to these measures, Ochonogor reiterated Rosabon’s commitment to supporting individuals and businesses in tackling the economic impact of the lockdown. He further stated that, “Rosabon is focused on delivering the best possible service to all Nigerians and supporting the Nigerian economy, while taking deliberate steps to further support parts of the nation most in need at this critical period.”