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27 Oct 2017

35,730 BENUE TRADERS TO BENEFIT FROM N1.5B GEEP FUNDS

By Aja Dan Aja

The Social Investments Program, SIP Benue State has said over 1.5 billion Naira is available under its Government Enterprise and Empowerment Program, GEEP Programme also called Market Moni.

State Focal Person of SIP, Engr. Conrad Utaan, who disclosed this today while briefing journalists after the roadshow to create awareness about the program in Makurdi, said the amount is to be given as loans to petty traders, artisans, market men and women.

Utaan added that over 35,730 target audience are to benefit from the program which has six (6) months repayment tenure after a moratorium period of two (2) weeks.
He said the program called ‘Market Moni’ aims at getting co-operative societies to access loans from the Bank of Industry, BOI, with the Bureau of Rural Development and Cooperatives acting as guarantor while the Social Investments Program will serve as agent and facilitator.
According to Utaan, 50,000 Naira would be given to individuals with a zero interest rate in the first instance and as much as 250,000 Naira subsequently for those who would be able to complete their repayments within the allowed period.
He urged the prospective beneficiaries to make maximum use of the facility to enhance their businesses as well as support their livelihoods.




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