Designed for Local Government Councils to assist them in bridging the gap between payment of salaries and receipt of their monthly statutory allocation.

It allows the Local Government to have access to 70% of its statutory allocation or a maximum of 10 million Naira. The tenor of the facility is 180 days (6months) after which the facility can be renewed. To enjoy the benefit of CAPOF, the Local Governments statutory allocation must be domicile to the bank.The interest rate is negotiable and competitive.

Benefits:

• Ensure immediate access to funds
• Unimpeded execution of project
• Prompt payment of salaries
• Other required expenditure
• Facilitates smooth running of Administration.
  

For more information on how to benefit from the product, call at any of the Wema Bank branches.