Hope was rekindled for residents of Isanlu, headquarters of Yagba East Local Government Area, on Saturday as the Agbana of Isanlu, Oba Babatunde Etombi, launched the Royal Citizens Co-operative, a financial credit facility designed to boost economic activities in the town and its environs.
The colourful ceremony drew a cross-section of dignitaries, including the Chairman of Yagba East Local Government Area, Dare Joshua Monday; the member representing Yagba East at the State House of Assembly, Hon. Emmanuel Obaro; and several traditional rulers.
The launch comes six years after the community’s only first-generation bank was attacked and destroyed by gunmen, an incident that left residents without local banking services and forced many to travel long distances to access basic financial services.
In his remarks, the Agbana of Isanlu described the launch as a new dawn for the community and urged residents to seize the opportunity to boost their economic lives. Oba Etombi said funds collected through the co-operative should be invested and channelled strictly toward the purposes for which they were raised, pledging the community’s full commitment to the scheme’s success.
Speaking at the event, the Chairman of Royal Citizens Co-operative, Dr. Toyin Akanle, an elder statesman, attributed the society’s rapid expansion to its unwavering focus on its set goals. He explained that the organisation is committed to members who are serious about building their businesses.
“Investment is the ultimate. In one of our branches, someone collected a loan of N30,000 and paid it back, then asked for N60,000 and paid that back too. As of now, she is collecting over a million naira because she was using the money to grow her business,” Dr. Akanle said.
“We are ready to partner with you to grow your business. You cannot be rich, you cannot be wealthy, if you cannot save. So no matter how small it is, save it, invest it, grow it, and you can do other things with it.”
He called on sons and daughters of Isanlu Kingdom, both at home and in the diaspora, to support the initiative, noting that it holds the potential to transform small-scale businesses across the area. Dr. Akanle also urged residents to change their attitude toward spending, describing meaningful investment as the only true path to wealth creation.
The President of Royal Citizens Co-operative, Sowemimo David, told the gathering that the facility has expanded to seven states, including the Federal Capital Territory (FCT), and has consistently promoted a culture of savings among its members.
He said Isanlu Kingdom deserves a reliable financial partner to help its people grow their businesses, which informed the decision to establish the facility in the community. According to him, the co-operative’s core services are anchored on thrift contributions, micro-credit, and agency banking operations, among others.
The Chairman of Yagba East Local Government Area, Hon. Dare Joshua, assured that the co-operative has come to stay under his administration, adding that the council would do everything within its powers to guarantee its success. He said the local government was ready to cooperate with the society, particularly in the area of security, noting that the credit facility would improve the socio-economic wellbeing of residents.
He also appealed to sons and daughters of Yagba East to emulate Dr. Akanle by investing in the local government, pointing out that investment opportunities abound in the area.
For his part, the member representing Yagba East Constituency at the State House of Assembly, Hon. Emmanuel Obaro, reiterated his commitment to supporting any programme aimed at improving the lives of his constituents.
