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Home»Finance»Finance Ministry sets up financial aid centre for southern flood victims
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Finance Ministry sets up financial aid centre for southern flood victims

November 26, 20251 Min Read


The operations centre will also coordinate with the Treasury Department to find land for shelters for flood victims.

Stage 2: Remedial Support

In the second stage, Ekniti said, the operations centre will focus on addressing debt and loan issues for flood victims. SFIs will implement measures to suspend interest and loan repayments and offer soft loans for house repairs.

The operations centre will also coordinate with the Office of Insurance Commission to instruct insurance companies to expedite coverage payouts.

Additionally, the operations centre will collaborate with the State Enterprise Policy Committee to mobilise state firms to repair homes and utility infrastructure damaged by the floods.

Stage 3: Rehabilitation

In the third stage, the operations centre will consider measures for rehabilitating careers and businesses in flood-hit provinces to help revive the local economy. The centre will seek Cabinet approval for the loans required for this process.

 



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