Osinbajo unveils second phase of TraderMoni in Anambra
To increase social intervention across different market segments, Vice President Yemi Osinbajo has unveiled the second phase of the TraderMoni and MarketMoni in Awka and Onitsha, Anambra state. The schemes were launched in both Eke Awka in Awka South local government area, and Ochanja Market in Onitsha, as beneficiaries acknowledged the receipt of funds ranging…
BMO sheds light on TraderMoni scheme
The Buhari Media Organisation (BMO) says contrary to speculations, the TraderMoni sheme enjoys constitutional backing...
FG launches phase two of trader, Marketmoni in Anambra, as beneficiaries rejoice
The Federal Government has rolled out the second phase of Government Enterprise and Empowerment Programme (GEEP) products aimed at giving assistance to traders across the country and encourage growth of their businesses.
FG restates commitment to national unity
The Federal Government on Friday reaffirmed its commitment to ensure that the country remained united and that all citizens, regardless of ethnicity, religion or political affiliation, regard themselves as one. Vice President Yemi Osinbajo gave the assurance when he paid a courtesy visit to the Traditional Ruler of Onitsha, Igwe Alfred Achebe. The News Agency…
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.
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.
Geep Programme: An empowerment scheme wrapped in opaqueness
The Nigerian Government Enterprise and Empowerment Programme (GEEP) is one of the National Social Investment Programme (NSIP) for Micro, Small and Medium Enterprises...
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).
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.