Firm advocates alternative investment, FDIs for economic growth
An international growth service provider, Ocorian has announced plans to increase the inflow of Foreign Direct Investments (FDIs) into Nigeria...
Sigma Pension CEO calls for increased ethical investments
The Managing Director, Sigma Pensions, Dave Uduanu has called for an increased ethical investment as a means to aide financial inclusion nationwide.
FG uses technology to scale the largest government-led microcredit scheme in the world
The Government Enterprise and Empowerment Program (GEEP) is a micro-credit scheme of the Federal Government of Nigeria executed by the Bank of Industry. GEEP started in 2016 and has empowered 1.8 million micro-enterprises with collateral-free, interest-free loans to grow their businesses; making it the largest government-led microcredit program globally. GEEP beneficiaries are petty traders, merchants, enterprising youth, and agricultural workers in over 1600 clusters and markets across Nigeria.
BOI rolls out repayment scratch-cards for TraderMoni and MarketMoni Loans
The Bank of Industry has begun the roll-out of its voucher-based loan repayment recharge cards for the GEEP TraderMoni, MarketMoni, and FarmerMoni loans.
UN Commends TraderMoni as program scales with technology, reaches 30,000 new beneficiaries
The goal to provide financial inclusion for all Nigerians regardless of social class and economic status has made giant strides across the country as countless traders, artisans and farmers continue to laud the Federal Government for giving them a way to access credit for their businesses through the Government Enterprise and Empowerment Program (GEEP).
Development interventions remain our potent tool, says Emefiele
The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has vowed to sustain development interventions, which ensures cheap financing to boost...
Building a long lasting business
Building a business that lasts beyond a business owner is the dream of most entrepreneurs, with the exception of those that have an exit plan.
Disrupting credit: how GEEP is enabling access to affordable credit, solving the collateral problem
With a population of over 190m, Nigeria has over 30 million MSMEs employing over 60 million of the population and contributing about 85% of our total labor force in the country. Micro, Small and Medium businesses have been the bedrock of the Nigerian economy. But a lot of them continue to remain at the same level because they lack access to funding from commercial banks; the average Nigerian MSME owner does not have a collateral, and cannot afford the interest rate charged by banks. Consequently, these businesses have remained at subsistence level; unable to utilize the opportunities in the Nigerian economy to grow.
What you need to know and ten cogent reasons Nigeria cannot afford new housing law!
According to Maslow’s hierarchy of needs theory, shelter is one of the basic needs of man and ranks next only to air, food, water and sleep.
With TraderMoni, FG is Spurring Productivity at the Grassroots
In line with the Federal Government’s plan to diversify the Nigerian economy beyond crude oil, attention has been turned to micro-businesses in the informal sector. Rather than focus solely on the formal sector, the Muhammadu Buhari administration is working with an overlooked, yet critical, contributor to the Nigerian economy. The informal sector remains vital to reducing unemployment; it also bridges several gaps between the formal sector and the masses.