10 Apr 2019
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.
3 Apr 2019
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.
31 Mar 2019
The controversial TraderMoni scheme through which the Federal Government disburses funds to petty traders is actually part of the entire budget...
31 Mar 2019
The Nigerian Government Enterprise and Empowerment Programme (GEEP) is one of the National Social Investment Programme (NSIP) for Micro, Small and Medium Enterprises...
27 Mar 2019
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).
20 Mar 2019
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.
17 Mar 2019
The TraderMoni programme was to empower the over 30 million Micro-, Small- and Medium- Enterprises (MSMEs) with interest-free, collateral-free loans and has nothing to do with vote buying....
13 Mar 2019
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.
6 Mar 2019
With over 23 million Nigerians financially excluded, the introduction of TraderMoni by the Federal Government in conjunction with Bank of Industry could not have come at a better time.
28 Feb 2019
The TraderMoni scheme of the Federal Government has generated a significant amount of buzz and national conversation: from those who laud its impact, and those who view it as politically motivated. TraderMoni is one of three microcredit products of the Government Enterprise and Empowerment Programme (GEEP). In this interview Chief Operating Officer of GEEP, Uzoma Nwagba explains how GEEP was a direct response to the challenge of access to funds for micro-enterprises, and financial inclusion.
22 Feb 2019
The Bank of Industry (BoI) has begun the disbursement of N15,000 TraderMoni loans to beneficiaries who have successfully paid back their first N10,000 loans. According to the Bank, the disbursement is in response to the increasing beneficiary repayments recorded under the scheme. Through a flexible weekly loan repayment plan of N430 per week paid over…
22 Feb 2019
Governor Ibikunle Amosun of Ogun State has denied that some hoodlums disrupted distribution of TraderMoni in Abeokuta, the state capital on Wednesday. Some national dailies (The Guardian inclusive) had reported that attempt by organisers of Federal Government’s Enterprise and Employment Programme (GEEP), popularly known as TraderMoni, to distribute money to traders at the Lafenwa market…