The federal government has earmarked a total of 98,000 Nigerians to benefit from its Government Enterprise and Empowerment Programme (GEEP) which may commence disbursement soon.
The Minister of Humanitarian Affairs, Disaster Management and Social Development, Sadiya Umar Farouq revealed this while speaking to newsmen in Abuja on Monday.
The Minister stated that the 98,000 beneficiaries have been drawn from the 36 States and the Federal Capital Territory (FCT).
The disbursement which will be handled by the Access Bank Plc has already began to notify beneficiaries of their successful selection to benefit from the programme.
According to the Minister all schemes under the GEEP programme will be disbursed simultaneously to beneficiaries.
However, Sadiya said beneficiaries of the GEEP programme ought to be aware that monies which shall be paid to them is loan and not grants.
Beneficiaries will be given moratorium of three months after which they will commence repayment which will last for only three months. So the whole process will last for only six months from the day of disbursement.
All the applicants whose loan applications have been selected will receive the sum of N50,000 under the market and trader Moni schemes while those selected to benefit from farmer Moni will receive the sum of N300,000 respectively.
NewsWay learnt that the registration for another set of beneficiaries will soon begin.
According to a source close to the Minister who spoke to NewsWay on condition of anonymity revealed that all arrangements have been concluded to rollout the next phase of the GEEP programme before June this year.
Enumerators will soon be sent from the ministry to capture Nigerians who will benefit from the next phase of the programme.
