Oba Shotobi Bounces Back – gives interest free loans to indigent to commemorate 5 years on the throne

The Ayangbure of Ikorodu, Oba (Engr.) Kabiru Adewale Shotobi, on Sunday, August 2, 2020, marked his 5th Coronation anniversary with the institution of free interest loan for residence of Ikorodu, first of its kind by any Oba in Ikorodu division.

The Monarch, who ascended the throne in August 2015 after the demise of the late Oba Salaudeen Oyefusi, rather than organizing an elaborate party to mark the celebration as many would have expected, opted to engage in a philanthropic gesture by giving out a free interest loan to 140 traders and artisans to empower them and assist their business.

The free interest loan was given out at a brief event, which was attended by a selected Journalists and notable dignitaries.

Oba Shotobi, while addressing the gathering, stated that the anniversary should have been celebrated with projects, funfair and merriment but was made solemn due to the ravaging Covid-19 pandemic and the need to adhere strictly with the measures stipulated to curb its spread.

He said that he, however, decided to celebrate the coronation anniversary with the empowerment of traders and artisans, who are in need of financial assistance to grow and sustain their businesses.

“I have decided not to have any form of celebration this year, except to symbolically inaugurate an interest free loan scheme that I have established to assist market men and women, tradesmen and artisans, and others in Ikorodu Kingdom, who are in dire need of financial support, to fund their trades and business,” the Kabiyesi said.

He said that an undisclosed large sum of money has been deposited in a commercial bank for the interest free loan scheme to assist traders in his kingdom.

He added that a special committee has been set up to manage the fund, adding that the loan is a revolving loan that beneficiaries are expected to make use of very well and pay back as at when due.

A large amount of money has been deposited with a Commercial Bank here in Ikorodu and a Special Independent Committee comprising some eminent personalities has been put in place to administer the fund. I hope that the interest free loan scheme would be of great assistance to our People,” the royal father said.

“It is important to place on record that the fund to be released to the already selected beneficiaries is a revolving interest free loan and not any form of gift. Therefore, it must be used effectively to support and boost businesses and trades.”

While also admonishing beneficiaries to make judicious use of the loan, the royal father also added that those that pay back their money may be considered for improved loan.

The first class Oba also appreciated the Almighty God for making his reign peaceful and impactful on the social, economic and political lives of Ikorodu.

“It is of paramount importance to me to appreciate and give glory to Almighty Allah, who has made my reign as Ayangbure of Ikorodu to be very peaceful, progressive, and also to have brought tremendous positive developments to Ikorodu Kingdom, her people and residents, as well as the entire Ikorodu division.”

He was also full of appreciation for his chiefs, government, friends and associates for their support and cooperation in making his five year old reign remarkable and impactful. 

Also in his address, Oba Shotobi informed the gathering that he has fully recovered from his sickness while also appreciating the medical and paramedical staff for the care given to him while in the hospital as well as Governor Babajide Sanwo-Olu, other government officials, family members, friends and associate and others for their supports and prayers while he was on sick bed.

“At this juncture, I must talk briefly about my ill-health in the past few weeks and to tell the whole world that, by the grace of Almighty-Allah, I have now fully recovered, hale and hearty and indeed very much alive with a sound mind,” the royal father declared.

“I must express my gratitude and appreciation to our amiable Governor of Lagos State, Mr. Babajide Olusola Sanwo-Olu, the state Deputy Governor, Dr. Obafemi Hamzat, for their massive support during the period of my hospitalization.”

“In the same vein, I wish to thank the State Honourable Commissioner for Health, all the doctors, paramedical staff and other auxiliary workers of the hospital that attended to me in very special ways when I was hospitalized,” the appreciative royal father said.

“I also hereby thank my wife and children, all family members, relations, particularly my brother, Obas in the state, Council of Traditional and Honourary Chiefs of Ikorodu Kingdom, Ayangbure Committee of friends, Lasunwon and Rademo royal families, palace staff and other workers as well as friends and associates, both home and all over the world.”

“I appreciate you all for your concern as well as various messages and most importantly, your prayers, which have effectively worked for me.”

“Most importantly, I specially thank Almighty Allah, the Divine Healer, who answered our prayers and restored me back to a robust health. The name of the Almighty God be praised forever, amen”, Oba Shotobi said while acknowledging God’s grace in his recovery.

Also, Chief Asipa Kaoli Olusanya, the Asipa of Ikorodu, in his own remark, said that Oba Shotobi instituted the free interest loan to assist the government in empowering the people and also help those who require business support rather than organizing merriment to celebrate his 5th coronation anniversary.

The Agba-Akin of Ikorodu, Chief Ayodele Elesho, who anchored the program, while also speaking, said that the COVID-19 pandemic changed all the initial plans for the grand celebration of the 5th coronation anniversary of Oba Shotobi.

“We have been planning to do a grand coronation anniversary since last year, but in February this year, COVID-19 crept in and changed everything.”

He said that the palace has to comply with the protocols stipulated by the government in preventing the spread of the virus by not organizing any elaborate celebration.

Sir Elesho, who stated that Ikorodu Kingdom has witnessed tremendous social, economic and political developments in the last five years of Oba Shotobi’s reign, also added that the palace instituted the interest free loan to create economic prosperity for residents.

In her own remark, Alhaja Taofikat Allison, the Iya Oloja General of Ikorodu division, commended Oba Shotobi for the gesture and assured that the loan will go a long way in impacting beneficiaries’ businesses.

Hon. SOB Agunbiade, the Majority Leader of the Lagos State House of Assembly and the Opomulero (Pillar) of Ikorodu, in his own remark, said that Oba Shotobi is a God chosen King for Ikorodu kingdom, noting that the Monarch takes the development of Ikorodu very important with the love of citizens, indigenes and non-indigenes in his heart.

“Oba Shotobi has been able to foster peace and unity among his subjects irrespective of tribe or where they come from. He has also been able to unite the Christians with Muslims to the extent that Ikorodu has been very peaceful and tolerant as far as religion is concerned. The traditionalists are also playing their parts, which is an evidence of competence,” Agunbaide said.

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