Survival Fund: Why Directors or Business Owners won’t be paid

Survival Fund

The steering committee for the implementation of the ongoing survival fund revealed why Business Owners or Directors can not be paid in the ongoing disbursements.

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The committee, which is chaired by Amb. Mrs Miriam Katagum explained that Business Owners were not included in the program as direct beneficiaries, but rather as indirect beneficiaries.

What this means is that;

“Business Owners will save what they could have used in paying their workers, so the committee decided that if at all Directors benefited in the first tranche of payment, that was because other states didn’t meet their quota, so there were fewer beneficiaries”.

SEE ALSO: Survival Fund: FG Begins Another Batch of Payment

However, Mr Johnson Laolu Akande said the committee will submit a progress report to the vice president by the end of this month (June 2021) and thereafter to the president where recommendations will be made requesting an extension of the program.

“We are sure that success was achieved through this scheme because a lot of businesses did not lay off during the pandemic”.

Employees who were verified on the portal will surely be paid.

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