31,594 Lagos microenterprises get FG’S MarketMoni loans
The Federal Government, through the Bank of Industry (BoI), has successfully disbursed MarketMoni loans to 31,594 microenterprises in Lagos State.
MarketMoni loans are zero-interest loans available under the Government Enterprise and Empowerment Programme (GEEP), one of the National Social Investment Programmes (NSIP) of the Federal Government.
A section of MarketMoni beneficiaries in Lagos State and key stakeholders in charge of the scheme had on Tuesday converged at the Teslim Balogun Stadium, Surulere, for the Lagos State Micro, Small, and Medium Scale Enterprises (MSME) Clinic organised by the Federal Government to support MSMEs.
Acting President, Yemi Osinbajo, was represented by the Minister of State for Trade and Investment, Mrs. Aisha Abubakar, and the Special Adviser to the Vice President on MSMEs, Mr. Tola Johnson. Mrs. Abubakar, who inspected the exhibition stands and interacted with some GEEP MarketMoni beneficiaries, lauded the progress of micro businesses in Lagos State.
Executive Director, Financial Inclusion, Bank of Industry, Toyin Adeniji in a statement said the GEEP scheme includes loans in different categories called TraderMoni, MarketMoni, and FarmerMoni.
The statement recalled that in December 2016, disbursement commenced across the country, and as at today, there are over 350,000 beneficiaries across all 36 states of the nation including the FCT. GEEP MarketMoni loans are repayable in six months with two weeks grace period.