Nigeria better today, presidency insists
The presidency yesterday insisted Nigeria is better today than it was when President Muhammadu Buhari took over the reins of government on May 29, 2015.
Kwara understudies TraderMoni to fight poverty
The Kwara State Government has said it is understudying Federal Government TraderMoni programme to give soft loans to traders and reduce mass poverty in the state.
African Bankers’ Awards: BOI wins Financial Inclusion Award for driving FG's GEEP programme
The Federal Government’s Enterprise and Empowerment Programme (GEEP) which is executed through the Bank of Industry has been recognized as the most impactful Financial Inclusion program in Africa.
FG now feeding over 9million school children, says Osinbajo
Nigeria's vice president, Yemi Osinbajo, has said the government's Homegrown School Feeding Programme is currently catering for over 9 million school children in 31 states of Nigeria. Osinbajo made the disclosure at a town hall meeting with some members of the Nigerian community in New York. “The same thing we are doing with the Homegrown…
BoI recognised for financial inclusion programmes
The Federal Government’s Enterprise and Empowerment Programme (GEEP), which is executed through the Bank of Industry has been recognised as the most impactful financial inclusion programme in Africa. The Bank of Industry was given the award at the African Bankers’ Awards ceremony which held in Malabo, Equatorial Guinea recently, for its role in implementing GEEP,…
GEEP and financial inclusion: an inside look at the impact of GEEP loans on beneficiaries
The Government Enterprise and Empowerment Program (GEEP) grants interest-free loans of between N10,000 to N300,000 in a graduating scale of N10,000; N20,000; N50,000; N100,000; and N300,000. Traders either start at N10,000 (TraderMoni), or N50,000 (MarketMoni), or N300,000 (FarmerMoni) depending on the scale of their current trade, and preparedness to meet the criteria at each level. When beneficiaries take a loan and pay back, they automatically qualify for the next higher amount. One of the primary goals of GEEP is to increase financial inclusion and support for citizens at the lowest base of the economic pyramid.
Women Empowerment: GEEP empowers more women in Benue with interest free loans
According to a UN report, women form a disproportionately large share of the world’s unbanked population. One of the major reasons for this is due to inequalities in income levels between both genders, making women less able to operate accounts in formal financial institutions. Women also rarely have the collateral necessary to access loans from formal financial bodies.
TraderMoni, MarketMoni record over 7,000 new beneficiaries in Benue State
The empowerment of petty and small-scale market traders by the Federal Government through the TraderMoni and MarketMoni initiatives of the Government Enterprise and Empowerment Program (GEEP), continued in Benue state, the food basket of the nation, with a special market activation in two popular markets—Markudi Modern Market and Wurukum Market.
United Nations, AFLI, Oxford Varsity commend GEEP
The United Nations Commission (UNC) in New York has commended Government Enterprise and Empowerment Programme (GEEP), a federal government’s microcredit initiative for the successful delivery of micro-credit to Nigerians, especially the youths. It made the commendation at its 62nd session, which held in March. Also, the African Leadership Institute (AFLI) and Oxford University recognised the…
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.