Over 5,000 Imo citizens will benefit from FG’s GEEP Programme – Ololo assures | IMO STATE GOVERNMENT

No fewer than 5,000 Imo citizens will benefit from the Government Enterprise and Empowerment Programme (GEEP) of the Federal Government, executed by the Bank of Industry (BOI).
So says Hon. Mrs. Ogechi Ololo during an interaction with Mr. Nnaemeka Nwosu – a banking official from Bank of Industry (BOI). Nwosu was in Imo state, Tuesday to train the state’s N-Power beneficiaries who will serve as registration agents for the programme.
GEEP is one of the four Social Investment Programmes of the federal government that aims to provide interest-free loans to upto one million market men and women, traders, artisans, youths and farmers.
For Hon Ololo, the loan will be more beneficial to women in the rural communities who depend on petty trading for their daily meal.
Said she: “There are women in some villages that if you give them N10,000, they will start jumping up, so, if you can help them access this loan to the tune of N50,000, they will appreciate you and won’t stop praying for you.”
The State Focal Person assured that she would liaise with two or three banks to help create accounts for the women and give them Bank Verification Number (BVN), since it is one of the prerequisites to access the loan.
Earlier at the training session, Nnaemeka Nwosu of BOI told the N-Power beneficiaries that they would serve as registration agents for the programme.
While distributing forms to them, Nwosu said, “Visit markets to register members of cooperatives and associations. Identify artisans and their associations/groups and register them. Complete the forms with the details of the applicants and submit them to your focal person.”
Explaining the programme, Nwosu informed that the loan, when accessed, will be repaid after six months with a one-time five percent administration fee.
“That means, If you take N50,000 loan, you pay back 52,500 at the end of six months on weekly repayment”, he clarified.

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