Association of Micro Entrepreneurs of Nigeria (AMEN) counters claim of N7bn reportedly allocated to SMEs, calls for probe of SMEDAN
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President Association of Micro Entrepreneur of Nigeria
Association of Micro Entrepreneurs of Nigeria (AMEN) counters claim of N7bn reportedly allocated to SMEs, calls for probe of SMEDAN
By Onome Naomi
National president of Association of Micro Entrepreneurs of Nigeria Comrade Prince Saviour Iche in a statement counter reports by SMEDAN in the allocation N7bn to SMEs within 100 days in office. He said this on Monday 29th January, 2024 in a press conference organised to address the false narratives by SMEDAN while urging EFCC to probe the DG Charles Odii for misappropriation of funds.
He revealed that that Business Member Organisation “BMO” has over 20,000 members across the nation and findings have been made by stakeholders to ascertain members who purportedly benefitted from the N7bn allocation to micro entrepreneurs but non gave positive response.
To this effect B.M.O demands to know the names and companies of micro entrepreneurs the N7bn was allocated to, says the only real recognized micro entrepreneurs association is the 5 which makes up BMO and they are: Asbon, Man, Amen, Naseme, Nase and non has benefitted so far.
Iche said:
“We know that the government will eventually release some money but the people charged with the responsibility of distributing the funds are the major problem micro entrepreneurs have, there are also ghost entrepreneurs who will claim this figure by SMEDAN
Micro entrepreneurs are the bedrock of an economy, also the largest employers of labour. With the recent rise in dollar and partially opened borders leading to economy downturn, micro businesses are closing down, how do Nigerians survive If the funds meant for micro entrepreneurs is allocated to ghost entrepreneurs manufactured by SMEDAN?.”
Comrade Prince Saviour revealed that on 20th January, 2024 a stakeholder’s meeting was held at SMEDAN head office and the N7bn allocation was not mentioned. The new Director General’s running of office is not advantageous to micro entrepreneurs, says IDC ( Industrial Development Centre) in Ikorodu with an expanse of land amounting to 19acres was given to land encroachers who have buildings erected on it instead of being utilized by micro entrepreneurs to build factories.
Iche further revealed that In 2022, there was a grant by lagos state government for micro entrepreneurs, he applied for N10m and after accessing the worth of his business and documentations, he was qualified for N20m grant but was cleared for N10m. In excitement Iche said he planned to employ more labour and expand his business as well as help members benefit largely from the scheme. But to his dismay he was signed up for N90,000 and made to sign for N10m but to receive only N90,000 which still didn’t get to his account. Says this and many other similar situations has left micro entrepreneurs frustrated amid the high prices of raw materials needed to produce as compared to costing in 2015.
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The rumor of N7billion given to micro entrepreneurs still remains a rude shock amid the suffocating situation micro entrepreneurs have suffered in the last 9years. There is need for a wake up call to counter manufactured figures by government bodies who uses the medium of allocations to embezzle funds into their pockets, BMO demands accountability by SMEDAN, we want to know those who benefitted from the N7bn. The allocation is not being utilized for it’s original purpose and EFCC needs to swing into action, BMO is ready to sue SMEDAN if resolution isn’t reached Iche added.
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