Nigeria Association of Small Scale Industrialists (NASSI) Sokoto State has raised an alarm that over 70 per cent of Micro, Small and Medium Enterprises in Sokoto state were registered barely a month before the Central Bank of Nigeria started distributing the N1.7 billion Micro, Small and Medium Enterprises Development Fund(MSMEDF).
The state Coordinator of the Association, Yakubu Maccido while speaking said “This undoubtedly gives an indication that these ghost micro, small and medium enterprises were formed only for the purpose of collecting the funds obviously not for utilisation for the genuine purpose of the Fund.
“NASSI as an organisation submitted more than 150 applications through the state Ministry of Commerce. However, of the more than 90 per cent of co-operative societies screened, not a single one is from our association in Sokoto.
“In fact, the screening of applications was never communicated to any of the co-operative societies under NASSI but a mere selection of a few favoured individuals and ghost micro, small and medium enterprises.”
Maccido urged the CBN and Sokoto State government to thoroughly investigate all anomalies before any further disbursement.
Source: The Herald