GEEP Shortlists 98000 Beneficiaries for GEEP Loan 2.0 Programme Payments 2022/2023

According to NAN, Sadiya Umar Farouq, minister of humanitarian affairs, disaster management and social development, made this known in a statement on Wednesday.

Farouq said that the decision followed the final verification of phase 1 applicants who qualified and were selected to benefit from small loans ranging from N50,000 to N300,000.

She further said that all the beneficiaries of GEEP 2.0 would receive congratulatory and sensitisation text messages in the coming days informing them of their qualification.

According to Farouq, the money given to the beneficiaries of the empowerment programme is a loan and not a grant and must be repaid within nine months.

“The GEEP 2.0 is a loan scheme designed by the Federal Government to provide financial inclusion and give credit access to the poor and vulnerable individuals including persons with disabilities,” a statement issued by Nneka Anibeze, the minister's special assistant on media, quoted her as saying.

“It also covers persons at the bottom of the economic pyramid, who are engaged in small scale commercial activities under its three flagship schemes.

“These three flagship schemes are MarketMoni, TraderMoniand FarmerMoni.

“Tradermoni targets uplifting under-privileged and marginalized youths aged between 18 and 40 years in Nigeria by providing them with loans of N50,000.

“MarketMoni targets under-privileged and marginalized women aged between 18 and 55 years like widows, divorcees among other vulnerable groups and they get interest-free loans of N50,000 payable within six to nine months.

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“While FarmerMoni is for Nigerian farmers aged between 18 and 55 years in rural areas that operate in the agricultural space.”

Farouq explained that the farmers would be provided with loans of N300,000 for farm inputs.