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Friday, 14 October 2016
Wema bank donates hugely to state govt for developmental projects
Wema Bank has provided N221 million financial assistance to Lagos State Government to deliver world class archival service to transform record management in the state high courts.
The bank’s Managing Director, Mr. Segun Oloketuyi, in a statement on Friday, said that N20m of the package was a donation from the bank to the project, while the remaining N201m was a loan.
Oloketuyi said that the bank had also granted N201 million loan facilities to the state government to finance the project tagged: the Lagos Archives and Property Litigation Registry.
LAPLR is a joint venture of the Lagos State Judiciary and the Justice Research Institute Ltd., a private limited liability company.
Oloketuyi said that the aim of the funding was to have a credible source of information, especially on land and property matters in the state high courts.
He said, “We (bank) lent our support in two ways, corporate social responsibility was part of the financing; it wasn’t just loans.
“We did this as a push for the company handling this project in partnership with the Lagos judiciary on the need to create value.
“When the project was conceived and the bank was contacted for financing, we contributed some ideas which were also brought into the picture to ensure the success of the project.
“The aim of the financing is to be in tune with global best practices and the next step will be to digitalise the records.
“That way, anyone who needs information can access it from the comfort of their offices.”
the Acting Chief Executive Officer of Lagos Archives and Property Litigation Registry Ltd., Mr. Toibudeen Oduniyi, was quoted as saying the vision of the project was to secure easy and timeless access to information.
Oduniyi said that the project marked the beginning of a digitized, sound, secure and user-friendly archival and document-retrieval structure for Lagos State High Court Registry.