Recent foundings shows that small and medium business are the bedrock of Nigeria’s economy.

Nigeria has over 77 million MSMEs today,accounting for the employment of over 60 million people nationwide and thereby contributing of over 80 percent total workforce to the labour market.

In its resolve to help support and accelerate the MSMEs,the federal gorvement established the marketmoni initiative.

What is Marketmoni?

Marketmoni is also known as the Gorvement Enterprise and Empowerment Program(GEEP),it is an initiative which issue which issues interest free loans to traders,market women,artisans,youths and farmers.

It is one of the social intervention programs established by the federal gorvement and executed by the Bank of Industry,it has kicked off disbursement to its early beneficiaries and it is expanding to every nook and cranny of the country.

What does Marketmoni offers?

Beneficiaries receive loans ranging from N10,000 to N100,000 per applicant for as long as 6 months.Market moni attracts no interest except a one-time five percent administrative fee.So far,over 24,000 beneficiaries gave accessed Marketmoni and good testimonies are being made by the beneficiaries.
Marketmoni gives out two week grace period in accordance with the loan requested,and undergoes daily collections from traders.
Who can apply for Marketmoni?

Members of an accredited market association,cooperative and trade group who possessed valid BVNs (Bank Verification Number) and whose location can be verified are eligible to apply for the Marketmoni initiative.

How do I apply for Marketmoni?

First,you must possess a Valid Bank verification number
You must belong to an accredited market association,or cooperative registered in your state or with the CAC(Cooperative affairs commission)
Your association or cooperative must indicate its interest in Marketmoni by submitting its information to BOI and its certificate of registration,this can be done in many ways either by:
Vising this url : http://www.boi.ng/marketreg
Phoning their customer help line which is 0700-225-5264
Visit any BOI office nearest to you.
If your association or cooperative qualifies,a MarketMoni agent will be sent to your group promptly to capture your members for loan assessment.
Source:https://doityourself.com.ng/marketmonihow-to-apply-for-marketmoni-quick-and-easy-loan/

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