President Buhari’s administration has launched a new initiative under the Government Enterprise and Empowerment Programme (GEEP), to help petty traders…

President Muhammadu Buhari’s administration has launched a new initiative under the Government Enterprise and Empowerment Programme (GEEP), called the “Trader Moni”, which will empower two million petty traders between now and the end of the year.

The scheme which was launched in Lagos would grant a minimum of 30,000 loans in each State of the federation and the Federal Capital Territory.

All together the 2 million mark is expected to be attained on or before the end of this year, with petty traders in Lagos, Kano and Abia States set to be the first round of beneficiaries to draw the collateral free loans.

Under the scheme, beneficiaries can get access to a higher facility ranging from N15, 000 to N50, 000 when they repay N10, 000 within the stipulated time period.

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