MarketMoni is an Enterprise and Empowerment Programme (GEEP) created to provide financial aid for the under-banked and unbanked. This objective is being achieved by providing easy and quick loans at no interest rate besides a five per cent (5%) administrative fee
Here is what you need to know to access a MarketMoni loan:
First, you must have a BVNNext, you must belong to an accredited market association or cooperative registered in your state or with the CAC.Third, your association or cooperative must indicate its interest in MarketMoni by submitting its information to BOI including its certificate of registration. You may either visit www.boi.ng/marketreg, call 0700-CALL-BOI (which is 0700-225-5264), visit any BOI office in the country, or go through your assigned State Focal Person to register your cooperative’s interest in MarketMoni.If your association or cooperative qualifies, a MarketMoni agent would be sent to your group promptly to capture your members for loan assessment.
Qualified registrants to MarketMoni will receive an electronic loan offer on your mobile device after which you receive loan disbursement in a matter of days!
Micro, Small and Medium businesses are the bedrock of the Nigerian economy.
The facts are clear: Nigerian has over 77 million MSMEs today, employing over 60 million of our people and contributing about 85% of our total labor force in the country. In its resolve to support and accelerate economic activity of MSMEs, the Federal Government has established MarketMoni.
MarketMoni, also known as the Government Enterprise and Empowerment Program (GEEP), issues interest-free loans to market women and traders, artisans, youth and farmers. It one of the social intervention programs of the Federal Government, and is being executed by the Bank of Industry. MarketMoni has kicked of disbursements to its early set of beneficiaries is expanding across the country.
Beneficiaries receive loans ranging from N10,000 to N100,000 per applicant for as long as 6 months. MarketMoni attracts no interest except a one-time 5% administrative fee. So far over 24,000 beneficiaries have accessed MarketMoni.
And the testimonies are rolling in from beneficiaries all over the country!
The Federal Government believes in the inherent capacity of every Nigerian; young or old, literate or illiterate to contribute immensely to the country’s economy. And so, the Federal Government is focused on economic empowerment of its people. The Federal Government identifies with Nigerians working hard to keep their businesses afloat, and will continue to expand economic opportunity for every-day Nigerians.