Firm implores MSMEs to access N220bn funds

The Managing Director/Chief Executive Officer, DEQNA International Limited, Mr. Femi Abimbolu, has implored Micro, Small and Medium Enterprises in Nigeria to begin to access the N220billion fund made available to them by the government.
Speaking at a seminar, jointly organised by the Police Assistance Committee and the Association of Tradesmen/Women and Artisans at the Airport Hotel, Ikeja, Lagos, Abimbolu said that the firm had devised various digital and online means of assisting MSMEs in the country.
He said, “We have been able to develop very interesting and peculiar online book keeping to meet MSME business’ needs. We carry out research and we have been able to assist the micro and small businesses.
“The micro sub-sector represents more than 70 per cent of the economy. We recognise their number and that is why the CBN is talking about them.”
“We recognised this and so we developed a solution to their problems. That is the foundation, because they don’t have money to employ an auditing firm. In the course of our research, we found out that since August 5, 2013 that the CBN launched the MSEDF (Medium and Small Enterprise Development Fund); about N220 billion made available for these people, many couldn’t access it because they don’t have proper financial statements. Therefore, DEQNA has provided the solution to their problem. You can only talk and complain, CBN will not change the requirements to access the money, unless they do the needful.”