How To Access FG 1.5M GEEP IYALOJA Market Trader Loan

How To Access FG 1.5M GEEP IYALOJA Market Trader Loan

Following the flagged off of the IYALOJA Market-Moni 2.0, which is the expanded Government Enterprise and Empowerment Programme(GEEP), with an initial phase of 1.5 million recipients setting N50,00 free-interest loans each, across the country, we have seen a lot of people asking questions on how to apply for the loan. So we decided to create this post to give you insight.

You may want to also check out the 5 Things To Know About IYALOJA Loan Scheme

The Honourable Minister of Humanitarian Affairs and Poverty Alleviation Dr Betta Edu has earlier sensitized the general public by visiting some markets across the Country to inform them about the enrollment process.

How to access the loan: The NSIPA or NASSCO Enumerators will go to the market where the traders are, to capture market traders, whose N50,000 loans would be meaningful in growing their business.

If you have a BVN and belong to an accredited market association or cooperative registered in your State or with the CAC, ask your association or cooperative to indicate its interest in MarketMoni by submitting its information to NSIP assigned State Focal Person to register your cooperative’s interest in MarketMoni.

If your association or cooperative qualifies, a MarketMoni agent will be sent to your group promptly to verify and capture your member information for loan assessment.

Once they are captured as willing beneficiaries, the N50,000 loan is transferred to the beneficiary's wallet or bank account. The funds are payable back over a period of 6 months.

The Beneficiaries are then advised to plan wisely, invest the money strategically, and be committed to repaying the interest-free loan.

The expanded GEEP 2.0 Programme will focus on the Market Moni also known as lyaloja, Nne Ahia or Agajin Yankasuwa, Farmer Moni, and Trader Moni. The lyaloja Market Fund,’ the non-interest loan of N50,000 would be given to Phase 1 of market traders, selected from 109 markets across every Senatorial zone in Nigeria.

You may want to also check Apply - SMEDAN/Sterling Bank N5 Billion Loan For MSMEs

For further inquiries, you can contact your NSIP State focal person to know more.

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