No fewer than 600,000 Nigerians have benefitted from the Federal Government’s social intervention scheme under the Government Enterprise and Empowerment Programme (GEEP) programme for entrepreneurs.
The Executive Director, Micro Enterprises, Bank of Industry and Coordinator of GEEP, Mrs Tonyi Adeniji, disclosed this on Thursday in Onitsha, Anambra State.
Adeniji who spoke on the two-day National Micro, Small and Medium Enterprises (MSMEs) Clinic, said that over 4, 000 persons in Anambra had benefitted from the credit facility of N100 billion earmarked for the programme across the country.
“GEEP micro-credit is one of the flagships of the Federal Government social intervention programmes that enable enterprenuers have access to affordable credits to fund businesses, especially in rural areas.
“Beneficiaries access between N50,000 and N100,000 financing loan payable over six months with zero interest.
“There is a five per cent administrative charge. To qualify for the fund, a prospective beneficiary must have a bank account, BVN and must belong to the association. Targets include market women, artisans, smallholder farmers and enterprising youths,” Adeniji said.
The coordinator said the Federal Government was committed to the success of the programme and would make additional fund available, if needed.
She said the programme had decent repayment by beneficiaries, noting however, that those who refused to pay back might hinder the chances of prospective beneficiaries from their zone.
