Oyo Government, FCMB Empower First 20 Entrepreneurs with POS Machines

The Oyo State Government, in partnership with First City Monument Bank (FCMB), has officially flagged off the first phase of its POS Deployment Initiative, designed to promote financial inclusion, empower young entrepreneurs, and strengthen grassroots economies.

At a brief ceremony held today at the Secretariat, Ibadan, 20 beneficiaries received Point-of-Sale (POS) machines to commence retail and agency banking operations in their respective communities. The programme is being coordinated by the Oyo State Agency for Youth Development, led by Hon. Adebowale Adebayo Falana.

The initiative follows a stakeholder engagement session held on June 30 at the State Secretariat, where youth, women entrepreneurs, and community leaders from the 33 local government areas discussed opportunities in digital banking, access to soft loans, and business growth strategies in partnership with FCMB.

Speaking at the launch, Hon. Adebowale praised Governor Seyi Makinde for his unwavering support of youth-focused programmes, describing him as a true enabler of innovation and enterprise. He stressed that the distribution of POS machines was more than just providing equipment—it was about creating jobs, supporting small businesses, and expanding digital financial access.

“Public-private partnerships like this are crucial to building inclusive economies. With Governor Makinde’s vision and FCMB’s collaboration, young people in Oyo State are gaining the tools they need to succeed,” he said.

Mr. Femi Fademi, FCMB’s Southwest Marketing Head, reaffirmed the bank’s dedication to expanding financial inclusion through initiatives that directly impact local communities. “Our collaboration with the Oyo State Government reflects our shared commitment to empowering micro-entrepreneurs and ensuring underserved areas have access to essential financial services,” he noted.

Beneficiaries expressed their appreciation, highlighting that the POS machines would not only provide them with steady income but also make banking services more accessible to residents in their neighborhoods.

The 20 pioneer beneficiaries include: Adekola Adeniyi, Damilare Idowu, Abass Abdulsamad, Fadeyi Kikelomo, Olabiyi Lolade, Folahanmi Opeyemi, Adewumi Busari, Adeleke Kamaldeen, Afolabi Yinka, Aransi Ganiyat, Akerele Olugbenga, Veronica Akinwale, Aminat Oladeji, Dunmoye Abidogun, Victoria Komolafe, Oluwasola Oyabumi, Olusegun Ayodele, Joshua Anjorin, Yaakub Abdulhamed, and Shakirat Yusuf.

This marks the beginning of a phased rollout, with more entrepreneurs set to benefit once their applications are verified. The programme represents another step in Oyo State’s broader economic agenda to empower its citizens, particularly youths and women, through digital innovation and enterprise support.