The Government Enterprise and Empowerment Programme (GEEP) Management through NASIMS and Bank of Industry (BOI) has announced the collection of ATMs for the dedicated accounts opened for beneficiaries of the program to access their loans easily.
According to a reliable source who spoke to Newsway under the condition of anonymity said, all beneficiaries across the country were opened a special account for the programme with access Bank, though the loans are already disbursed to those accounts, they must be given Debit Cards and also authorized by the appropriate authorities before they may be able to withdraw their loans.
Newsway gathered that, application for the GEEP loans were done late last year across the 774 local governments in all the 36 States and the Federal Capital Territory (FCT). Male applicants were to be given Traders Moni while female applicants were to be given Market Moni. Those with verified farms applied for Farmers Moni.
If approved and disbursed, beneficiaries under Market and Trader Moni will receive Cash Transfer of N50,000 each while those approved under Farmer Moni will enjoy Cash Loans of N300,000 each.
GEEP is an initiative of the Federal Government and was created in 2015 to provide Interest-free loans to Medium and Small Scale business owners in Nigerians. All citizens are eligible for to apply for this BOI GEEP loan.
GEEP 2.0 is created to assist Micro Small and Medium Scale Enterprises with collateral-free loans to enable them boost their business which directly help the economy of the nation. To help build these businesses, the GEEP loan programme is currently in 3 categories.
