By Deborah Onyofufeke
The Federal government has concluded plans to roll out the Government Enterprise and Empowerment Programme, GEEP 2.0, in all the 36 states and the Federal Capital Territory, where those approved as beneficiaries of the small loan, which is in the bracket of N50,000 to N30,000 will receive messages in the coming days informing them of the rollout.
This was made known, Wednesday, in a statement, signed by Nneka Anibeze, S.A Media, to the Minister of Humanitarian Affairs, Disaster Management And Social development, Sadiya Umar Farouq, where she noted that the selection was made after the final phase 1 verification.
Absentee civil servants in Zamfara may lose pay, Gov. Matawalle warns
It was stated that the Minister said that all beneficiaries of GEEP 2.0 shall receive congratulatory and sensitization text messages in the coming days informing them of their qualification and re-emphasis that the empowerment program is a loan payable within 9 months and not a grant.
“All qualified beneficiaries will soon receive their disbursement alerts. We wish to remind all qualified beneficiaries that this is a loan payable without interest. It is not a grant or a government windfall. It is a soft interest-free loan that must be paid back within 9 months”.
Sadiya Farouq, also announced that the Ministry is planning a rollout of the program nationwide, after which, an enumeration exercise to capture beneficiaries’ bio data, will take place.
IOCs evading tax shouldn’t lift crude oil again, Senate tells NUPRC
The statement read in part “The GEEP 2.0 is a loan scheme designed by the Federal Government to provide financial inclusion and give credit access to poor and vulnerable individuals, including Persons With Disability and persons at the bottom of the economic pyramid who are engaged in small scale commercial activities under its three flagship schemes: MarketMoni, TraderMoni and FarmerMoni.
“Tradermoni, targets uplifting under-privileged and marginalized youths aged between 18-40 years in Nigeria by providing them with loans of N50,000 while MarketMoni targets under-privileged and marginalized women aged between 18-55 years like Widows, divorcees amongst other vulnerable groups. They get interest-free loans of N50,000 payable within 6-9 months.
Nwakali sacked at SD Huesca
“MarketMoni is for Nigerian farmers aged between 18-55 years in rural areas that operate in the agricultural space. They are provided with loans of up to N300,000 for farming input. This scheme has 12 months including 3 months moratorium and 9 months repayment period”
