FG Engages 98,000 Beneficiaries For GEEP Loan 2.0 Programme

FG Engages 98,000 Beneficiaries For GEEP Loan 2.0 Programme – The
Ministry of Humanitarian Affairs, Disaster Management and Social
Development 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.


This follows the final verification of Phase 1 applicants who qualified and
were selected to benefit from small loans ranging from N50,000 to
N300,000.
The Minister Sadiya Umar Farougq 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 aloan and nota grant.

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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
Minister Umar Farouq also announced that the Ministry is planning a
rollout of the program nationwide, after which an enumeration exercise to
capture beneficiaries’ biodata will take place.

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.

FG Engages 98,000 Beneficiaries For GEEP Loan 2.0 Programme
FG Engages 98,000 Beneficiaries For GEEP Loan 2.0 Programme