Disclaimer: This message is directed at my constituents in Ekiti North 1 (Ikole/Oye) Federal Constituency in my personal capacity as their representative, and does not represent an official position of the House or my role as Spokesman of the House of Representatives.
On COVID-19 Loan Recoveries
Over the past few months, I have continued to receive consistent feedback from constituents across Ekiti North 1 (Ikole/Oye) Federal Constituency regarding the automatic deductions from their bank accounts in respect of COVID-19 intervention loans. What was designed as a survival lifeline during an unprecedented global crisis has now, for many families and small business owners, become an additional burden in already difficult economic times.
Many of our people in Ikole and Oye are experiencing direct, recurring deductions from their bank accounts, further straining already stretched household finances and disrupting small businesses. I hear the concerns clearly. The volume and consistency of the feedback show that this has become a serious issue affecting livelihoods within our constituency.
This matter has therefore become one of top urgency, and the House of Representatives rightly acted by adopting a Motion of Urgent Public Importance, calling for the suspension of these deductions and urging appropriate relief measures for vulnerable beneficiaries. This demonstrates the seriousness with which Parliament is treating the issue.
Most of those affected are poor and vulnerable Nigerians, as well as micro and small business owners who are still struggling to stay afloat. In light of prevailing economic realities, there must be a compassionate and pragmatic approach. I strongly believe that the Central Bank of Nigeria and relevant institutions should reconsider the current recovery framework and suspend further deductions pending a fair resolution.
It is also worth noting that in several other jurisdictions that implemented similar pandemic-era interventions, repayment frameworks were restructured, extended, or in some cases converted into grants in recognition of prevailing economic realities. Nigeria must ensure that compassion and economic pragmatism guide our response.
I am actively undertaking the necessary follow-ups and engagements with the House Committee on Legislative Compliance and other relevant authorities to ensure this issue is addressed fairly, responsibly, and decisively.
Please continue to share your experiences. Your feedback strengthens our advocacy and informs our interventions on your behalf.
Rep. AỌA
