PRESIDENT, National
Association of Nigerian
Traders NANTS, Mr.
Ken Ukaoha, has said its
members are ready to access
the N140 billion Government
Enterprise Empowerment
Programme GEEP, fund been
implemented by Bank of
Industry BOI.
Ukaoha who stated this
yesterday in Abuja, said
that the fund was meant
for traders, artisans, market
men and women as such, it
will take advantage of this
opportunity to expand their
business across the country.
According to him, “The
Federal Government rolled
out a facility meant for
traders, artisans and market
men and women, and it is
called the GEEP under the
Systematic Investment Plan
SIP”.
He said “N140 billion was
projected by the Federal
Government for this and it
is on-going in many of the
states.
The president added that,
“One of the things that we
have done is to screen the
potential beneficiaries and
we had to engage with some
banks to train potential
beneficiaries essentially
those who are our market
coordinators so that they do
not see it as a national cake”
“We want to train these
people, build their capacity
on how to utilise these fund
effectively, how to ensure
they have records, booking
keeping and financial
management and also how
they can be able to do a
financial evaluation every
month.’’
Ukoha said that association
choose Access and Fidelity
banks based on their track
record in assisting the
association’s members,
adding that the third bank
is being worked on. He
said the association would
guarantee members to access
the interest free six-month
tenure loan.
Ukaoha said beneficiaries
would be given between
N10, 000 to N100,000 and
were required to pay N4,000
weekly after a two weeks
grace.

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