Simple Guide on How To Access FG 1.5M GEEP IYALOJA Market Trader Loan can be accessed below.
Accessing the FG 1.5M GEEP IYALOJA Market Trader Loan: A Step-by-Step Guide
The recent launch of the IYALOJA Market-Moni 2.0, an extension of the Government Enterprise and Empowerment Programme (GEEP), has generated considerable interest among potential beneficiaries. With an initial phase targeting 1.5 million recipients receiving free-interest loans of N50,000 each, individuals are eager to know how to apply.
Here is a comprehensive guide to assist you:
1. Understand the Enrollment Process: The Honourable Minister of Humanitarian Affairs and Poverty Alleviation, Dr Betta Edu, has sensitized the public by visiting markets across the country to provide information about the enrollment process.
2. NSIPA or NASSCO Enumerators Visit Markets: Enumerators from the National Social Investment Programme (NSIP) or National Agency for the Social and Economic Empowerment (NASSCO) will visit markets to capture information about market traders eligible for the loan.
3. BVN Requirement: To access the loan, ensure you have a Bank Verification Number (BVN) and are a member of an accredited market association or cooperative registered in your state or with the Corporate Affairs Commission (CAC).
4. Association or Cooperative Application: Request your association or cooperative to express interest in MarketMoni by submitting its information to the NSIP assigned State Focal Person. This is the first step to register your cooperative’s interest in MarketMoni.
5. Verification and Assessment: If your association or cooperative qualifies, a MarketMoni agent will be dispatched to verify and capture information about your members for loan assessment.
6. Loan Disbursement: Once captured as willing beneficiaries, the N50,000 loan will be transferred to the beneficiary’s wallet or bank account. The repayment period is spread over six months.
7. Wise Planning and Commitment: Beneficiaries are advised to plan strategically, invest the money wisely, and demonstrate commitment to repaying the interest-free loan.
8. Focus Areas of GEEP 2.0 Programme: The expanded GEEP 2.0 Programme encompasses Market Moni (Iyaloja), Nne Ahia, Agajin Yankasuwa, Farmer Moni, and Trader Moni. The “Iyaloja Market Fund” will provide a non-interest loan of N50,000 to Phase 1 market traders selected from 109 markets across every Senatorial zone in Nigeria.
9. Contact for Inquiries: For further inquiries, reach out to your NSIP State focal person to gather more information and clarification.
This step-by-step guide is designed to assist you in navigating the process of accessing the FG 1.5M GEEP IYALOJA Market Trader Loan. Take advantage of this opportunity to empower your business and contribute to your economic growth. For any additional questions, feel free to contact your NSIP State focal person.
