OLOGODIDAN MULTI SERVICES LTD is a financial services company which receives saving and in turn gives loan to its teeming members and customers.
The company also offers several other financial services such as thrift in which each member collects at the end of the month while the company retains only a day saving.
There is also the weekly saving scheme for those in small business and artisan while those in the cooperative are encouraged to make monthly savings. Each of these attracts hefty interest at the end of the day.
OLOGODIDAN MULTI SERVICES LTD also runs a fixed deposit scheme for its members. Under this scheme, members are encouraged to save money over a certain period of time preferably one year and get interest in the region of 60% – 80 %. For instance, a saving of one million naira over one year attracts an interest of eighty percent (eight hundred thousand naira)on top of the principal sum of one million naira while same amount over same period will attract 60% or six hundred thousand nairaif the ownerhad directedthat interest be spread and pays to him or her on a monthly basis.
The company also assist its members to access loan on a friendly terms and conditions. Our Loan can be accessed within a few days and months depending on the nature of the loan and amount of money involved. The company also gives loan for car and sells cars on hire purchase as long as the client or customer is willing to make some down payments. This service also applies to tricycle (KEKE). The same condition applies to those who wish to buy motorcycle or Okada except that they have to pay a flat down of N50, 000. Repayment of the balance is spread over eighteen months.
OLOGODIDAN MULTISERVICES LTD also gives loan or acquire land to farmers to farm and can even cultivate farms for interested members. Generally, the process of loan collecting for us is easy and simple depending on the category of the loan and the person involved. While some take just a few days others can take up to two or three months.
Not very long ago, our staff writer had an interview with the Managing Director/CEO of OLOGODIDAN MULTI SERVICES LTD, Evangelist (Mrs.) Rachael Oluwasoga during which she spoke about the activities of her company.
MADAM, WHAT IS OLOGODIDAN MULTISERVICES LTD ALL ABOUT?
Thank You. We are a financial services institution. We receive saving and in turn give loan to our teeming members at very concessionary terms. We also offer other financial services such as thrift, weekly or monthly saving scheme amongst various categories of our members. There is a fixed deposit scheme too in which members save certain amount of money over a long period of time and in turn get hefty interest to the tune of 60% and 80% respectively.
OLOGODIDAN MULTISERVICES LTD also runs a Loan scheme in which the company gives money to various category of customers to buy cars, tricycles or Motorcycle (Okada) so long as such personsare willing to make down payment of certain amount depending on the type of asset they intend to acquire. However, Payment of balance is spread over eighteen months.
We also buy land for farmers.
In general Terms, we encourage savings, thrift, fixed savings scheme and hire purchase. We give loan to all categories of members too.
Our loans are on concessionary terms.You can access our loans in days or a few months depending on the category of loan and whether you are a faithful and serious member of our group.
We are also into real estate and property business through our property company A.G.E.S. Property Limited. Our property company sells land, build houses and sell to interested members of the public.
As I speak, a promo is running on a lot of media channels across the country on 1000 houses which the company intends to build and giveout to the public. To participate, all you have to do is to subscribe with N14,000, then indicate a property of your choice, make a down payment and wait for two years foryour property to be handed over to you while the balance for such property is spread over twelve years for repayment.
There is also the land bank scheme in which people are expected to make down payment to the tune of 50% of the land the intend to buy, then get the land in one year from the day in which the initial down payment was made. Beneficiaries are not however expected to pay any balance. We do this to ease the process of land or properly acquisition. I therefore use this medium to appeal to members of the public to take advantage of these opportunities.
MADAM, THERE ARE SIMILAR COMPANIES EVERY WHERE, WHAT STANDS OUT YOUR COMPANY AND HOW DO YOU SET THE CONFIDENCE OF YOUR MEMBERS?
Thank you.It is the way we do business and the trust, confidence and integrity which we put into it. We are trust worthy and reliable. We pay our depositors as at when due and with the interest we had promised at the beginning.
Our customers know that we are real and have come to stay. Some of them go on the net to search for information about us and even make enquiriesfrom past beneficiaries.
Our loan procedure is very simple.If you are our member, all that it takes is for two other members to sign for you or act as guarantors. If you are not a member, you have to present some collaterals which must be movable items such as cars etc.
HOW LONG HAVE YOU BEEN IN THIS BUSINESS?
We have been around for well over five years and we hope to continue. The challenges are there but we will keep going. The biggest and most worrying challenge is the refusal of some customers to repay their loan within agreed time frame and condition. We have had to use the police to recover our money.
WHAT GIVES YOU JOY?
We get joy from the lives we change and the smile we put on the faces of people. We are like a non-governmental organization (NGO). We have given loan to quite a number of people and sometimes in very meager sums of money like five thousand or ten thousand naira for petty businesses. What normally excite me the most is when the beneficiaries come back to recount how that had changed their lives.
HOW DID YOU START MADAM?
We started as corporative but as time went on we realized that we had to change it to OLOGODIDAN MULTI SERVICES LIMITED in order to give us the latitude to do other things, that is why we are into saving, loan, car loan or hire purchase, thrift, fixed deposit, etc.
MADAM, WHAT OTHER SERVICES ARE YOU PROVIDING?
Like I said we have a real estate and property company which is a division of OLOGODIDAN MULTI SERVICES LTD. The company sells land, builds houses and sells to members of the public. In short, the company assist people to own properties in different part of the country.
WHAT IS THE END GAME OR WHERE DO YOU INTEND TO GET TO MADAM?
We will continue to forge ahead because we know that we are impacting on very positively on the society. As for me, I intend to end in ministration because I am an evangelist.
About The CEO
EVANGELIST RACHEL OLUWOSHOGA, popularly called OLOGODIDAN (the light that shines) is a singer, clergy woman, motivational speaker and proprietress. She was born and bred in OssiEkiti Local Government Area in Kwara State, Nigeria. She is a graduate of accountancy of the Kwara State polytechnic. Her hobbies include, Reading, Singing and Ministration.
Lagos Offices: Ologodidan Building, Opp. Igbado Ikotun Local Government Office, Beside God is Good Transport, Ikotun, Lagos.
Tel. 09035600705, 07064951702, 07085057068, 08144915685
A17 Solaron Plaza, 15/17, Akowonjoo Road, Egbeda, Lagos. Tel: 08100551379
No. 43, Ayangburen Road, opp. Kings palace,Ikorodu, Lagos State
Abuja Offices: Oloye Olajumoke Akinjide complex, Dutsen Alhaji Modern market, Suite A2- 06, Abuja
Ilorin Offices: No. 245, Ibrahim Taiwo Road, opp. Shopping Complex, Ilorin, Kwara State.