Naira Scarcity: Oluwo Distributes Sewing, Grinding Machines, Cash To Over 200 Residents

As part of efforts to reduce the effect of cash scarcity on people of Iwo, the Oluwo, Oba Abdurosheed Akanbi distributed empowerment materials and cash to residents of various communities in Iwoland.

Over 200 residents benefitted from Oluwo’s gesture, which include 30 sewing machines, 25 grinding machines, food items and cash gift of N5000 to 50 traders in the town.

According to Oluwo, the empowerment programme, which was facilitated by Mr Tunde Rahman to enhance the palace annual food distribution programme.

Oluwo lamented the hardship inflicted on Nigerians most especially petty traders by naira scarcity, saying the token empowerment is to keep their respective businesses active.

He said the current economic challenge occasioned by naira scarcity calls for concern by wealthy individuals, calling on government at all levels to prioritize and empower small scale businesses to ease the effect of naira scarcity.

READ MORE: Naira Scarcity: I Can’t Boast N20,000 Cash – Oluwo Of Iwo

The monarch stated that he initially planned to stage an elaborate cash empowerment but restrained by naira scarcity to give N5,000 each to over 50 beneficiaries.

His words; “I felt the pain inflicted on Nigerians most especially the petty traders. This is one of the best moment to extend helping hands to those struggling to survive. The naira scarcity has heightened the hardship. Hence, the need to come to their aid.

“I’ve strong hope in my people to multiply any little given to them. The distribution of sewing machines, grinding machines and food items is to decimate the hardship inflicted on Iwoland residents. Small scale business owners are primary beneficiaries. I interact with my people and always get feedback. The three local governments of Iwoland – Iwo, Ayedire and Ola Oluwa benefitted. We need to keep them alive despite the new naira crisis.

“Sewing machines are given to tailoring apprentices without financial strength. We equally selected beneficiaries of the grinding machines and the foodstuffs. The princes,chiefs and residents benefitted from the food distribution”

“I also distributed cash to petty traders. Initially, I planned for an elaborate cash empowerment but naira scarcity is no man’s friend. I’m sure the over 50 beneficiaries of N5,000 each will make judicious use of the cash empowerment.

“I acknowledge my golden and promising son, Mr. Tunde Rahman who facilitated the program.”