Posted by SOCIAL INVESTMENT OFFICE
Government Enterprise and Empowerment Programme (GEEP)
HOW MARKETMONI LOAN WORKS
GEEP MarketMoni Loans are being delivered to beneficiaries through their registered market associations and/or cooperatives. Upon verification of the market association or cooperative, its eligible members who have valid BVNs are onboarded to the programme, bank accounts opened for them, and relevant information are collected for credit assessment. Upon disbursement, the beneficiary makes weekly repayments towards their loan.
GEEP MarketMoni is a national social intervention programme to reach 1.6 million beneficiaries across all States and the Federal Capital Territory.
1. What is MarketMoni?
MarketMoni is a microcredit loan available to traders, market women and men, artisans, enterprising youths, small scale farmers and agric workers nationwide. Market money is easy to access and repayable over six months.
2. What does MarketMoni Loan Offer.
• Loans from N10,000.00 to N100,000.00
• 6-month loan tenure
• Two weeks grace period
• Weekly repayments through daily collections
3. Who can apply?
Members of registered and vetted associations, cooperatives
or trade groups. These members must have valid Bank
Verification Numbers (BVNs) and verified business locations.
The application form is
4. Can I, as an individual, apply directly for the MarketMoni loan?
You must be an active member of a registered association, cooperative or business group. The association, cooperative or business group must be registered by your State Government or Corporate Affairs Commission.
For more information, go to any office of the Bank of Industry nationwide, or visit www.boi.ng/marketreg, marketmoni@bohng, 07002255264