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Wednesday, 2 January 2019

FALEX GROUP CELEBRATE 10 YEARS ANNIVERSARY: Dr. Tunde Faleye Launches Empowerment Program for Traders in Ilesa



Dr. Tunde Faleye the current Managing Director of Omoluabi Holdings Limited. He is a  seasoned Management, Accounting and Finance Executive. Dr. Faleye popularly known as Falex is a seasoned politician with his base in Ilesa East Local Government. He is also the   founder and financier of a popular political group called Falex Group. A group that was founded in 2008.

The Falex Group on Sunday 30th December, 2018 celebrated their 10th year anniversary with the launching of an empowerment programme for 35 traders from the group.

The programme tagged "Better Together" is an initiative Dr. Tunde Faleye targeted towards empowering petty traders within the group.

The group with its members numbering over two thousand, decided to execute the empowerment programme in phases. Towards this, a set of 35 petty traders were selected by the group. Each of the 35 traders is expected to receive between N50000, N20000 and N10,000 to boost their businesses. The scheme is to evolve in phases. The first phase is expected to gulp over two million naira.

Dr. Tunde Faleye said that the programme was being implemented by the group in collaboration with the Omoluabi Bank as the administrating bank that will coordinate the distribution and collection of the interest free facility.

Speaking exclusively to Lasore Oladimeji Blog after the ceremony, Dr. Tunde Faleye said;

"If you go by our ideology, we believe in helping each other, that is why our logo is "Better Together" and from the onset we prioritize ourselves­ in looking for ways of empowering our members, looking for how to better our lives. We are not looking at things from that parochial angle of individualism. We are looking at what is the kind of program that our members can benefit from and that is what brought the empowerment programme.

"We were able to talk with Omoluabi Bank on how they should be able to empower our people through finance. All these petty traders. We talked on the interest which I happen to be responsible for. I payed up the interest on the facility for four months in advance so that the bank will be able to advance them money.

"Today we were able to give to a total of 35 people that will vary between N50000, N20000, N10000 for individual. The essence of the programme is for them to be able to have something to boost their trade through their groups and they have four months to pay back the money and give opportunity to other members within the group to benefit. We are looking into the second phase of about another 35 people that will benefit from the scheme but these people having paid for the first two months down the line concerning the facility, we will be able to commence the second phase and anyone of them that is able to pay back on time as agreed, such person will have the opportunity of having higher amount of facility. If you are able to pay back N50000, that makes you to be entitled to N100000. So, it's going to be a kind of rollover facility for them. The purpose is not to do any other thing but to boost their trade and be able to empower them and that is the essence of the Falex Group."
In addition,  the group has also commence her quarterly payment of feeding stipends to its aged members. This is a quarterly  programme where aged members of the group are paid a stipend of N2000 each for their upkeep.

Also present at the launch of the programme were Deputy Governor of the State of Osun, Mr. Benedict O. Alabi, Leader Kunle Odeyemi, Hon Bola Oyebamiji, Hon Tunde Ajilore, Hon Timo Owoeye, Hon Idowu Falade, Hon Idowu Korede, Hon Sule Aderemi, Hon Wale Adedoyin, Hon. Mrs Florence Ajinde,
Hon Bisi Olaniyan to mention just a few.

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