Inside FG’s $12B Loan/Grant Program for 2022: (No.3,5,9 Are Impressive)
CNB Loan, SMSEME Fund, Agri-Business/Small and Medium Enterprise Investment Scheme CBN’s AGSMEIS Loan, Conditional Cash Transfer, Npower, GEEP Loan, Homegrown School Feeding Programme
75B naira Nigerian Youth Investment Fund (NYIF), The Survival Fund, Loan from NIRSAL National Microfinance Bank (NNMFB) etc are some of the packages government boasting employment
These programmes would continue and beyond 2022
FG Conditional Cash Transfer CCT To Continue till 2022
The FG Conditional Cash Transfer programme has fully resumed in some states of the Federation, the Conditional Cash Transfer scheme is meant;
- To give the poorest of the poor cash gift of N5000
- To supported the poor and vulnerable to improve consumption and healthy leaving
- Reducing poverty, preventing vulnerable households from falling further down the poverty line and
- Building their resilience to withstand shocks
CBN Nirsal Covid-19 Loan: MSME/Household Loan
The Federal Government through the CBN- Nirsal Microfinance Bank has re-opened the Covid-19 loan application portal, the programme will continue till 2023
The CBN-Nirsal Microfinance Bank re-opens portal for Covid-19 loan application. The financing limit for MSME’s is N2, 500,000 while Household is N1, 000,000.
N75B Nigerian Youth Investment Fund (NYIF)
The NYIF is currently recruiting and has no date of closure, the programme is aimed at proving financial support ranging from 250k to 5M to youths
Loan from CBN/NIRSAL National Microfinance Bank (NNMFB)
The CBN/Nirsal National Microfinance Bank (NNMFB) is another FG and CBN finance loan programme, it is massively financing both household expenditures and businesses ravaged by the covid-19 PANDEMIC
See 2021 CBN Nirsal Covid-19 Loan | www.nmfb.com.ng | N1 to N2.5M
Agri-Business/Small and Medium Enterprise Investment Scheme CBN’s AGSMEIS Loan
APPLY HERE/READ MORE
The Federal Government FINTECH
This is aimed at providing an enabling environment for the growth of businesses that use technology to enhance or automate financial services and processes.
Digital Youth Nigeria & Federal Government FINTECH
It was initiated to implement skill acquisition programmes for poverty alleviation and employment generation.
According to lai “Mohammed “over 100,000 youths across the country benefitted from Mobile Service Repair Training with financial and technical assistance of the Digital Youth Nigeria (DYN)”
BOA-SMEDAN Fund
The portal for Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) and the Bank of Agriculture (BOA) loan application has officially opened for massive application
Graduate Internship Scheme
Over 500,000 youths have also benefited from the Graduate Internship Scheme which provides short-term employment graduates.
Till will continue next year
GEEP Loan: FARMERMONI, TRADERMONI & MARKETMONI
The Federal Government Enterprise Empowerment Programme (GEEP) has officially kick-started, formed to provide loans credit SMEs to small businesses operated by low-income earners
The GEEP Loan cut across three programmes: MarketMoni, TraderMoni and FarmerMoni.
In this article, we will see who is eligible to apply for this loan, the categories of the loan programme, how to apply for each of the programme under GEEP,
Eligibility:
Every trader, artisan & farmer in Nigeria is eligible for a GEEP loan.
GEEP loans are designed to provide credit to small businesses with a convenient repayment period of 6 months.
Geep loan application is not done online
MARKETMONI
MarketMoni was the first loan product launched by GEEP.
It is a 6-month interest-free loan, starting from N50,000 ($139) for small businesses under the auspices of their cooperative societies or market associations.
This loan product has helped small business owners scale their businesses while offering them a comfortable repayment period.
There is no registration form for marketmoni loan
TRADERMONI
TraderMoni is the entry-level loan product for GEEP.
It is a 6-month interest-free loan, starting from N10,000 ($28) aimed at petty traders and artisans.
This loan is targeted at the everyday market trader, who makes a living from what they sell on a daily basis and whose product inventory ranges from N2,000 – N5,000.
This loan immediately provides them with a structured way to increase their inventory, while repaying the loan.
Most beneficiaries of this loan product are first-time receivers of a loan from a formal financial lender.
FARMERMONI
FarmerMoni is a loan product targeted at the smallholder farmers in the agriculture sector.
This product is a 6-9 months interest-free loan, starting from N250, 000 ($694) for farmers within farming clusters.
The loan is tailored to suit the peculiarities of the different planting seasons and farming requirements.
This product also includes a guaranteed off-taker who commits to purchasing the farming producer from beneficiaries of this loan for the purpose of local food production.
How GEEP Works
ENUMERATION
GEEP Agents are deployed to market clusters across Nigeria with mobile devices.
Potential beneficiaries are registered at the point of their trade with several data points collected including face ID & GPS location.
These data points are submitted to a central database where they will undergo verification.
VERIFICATION
Every successful data submission is categorized into batches of 10-20.
Our fully manned call centre goes through the process of calling a randomized batch of beneficiaries to verify the submitted information.
Once verified, potential beneficiaries are ready for disbursement into their mobile wallets.
DISBURSEMENT
Verified beneficiaries receive a text message on their phone, asking them to respond to a loan offer.
Once they accept, their mobile wallet is funded with the loan amount.
The beneficiaries can choose to transfer the money to their bank account or receive cash via an agent in their market.
REPAYMENT
Every beneficiary has a 2 weeks moratorium period before they begin to repay their loan. Loan repayments range from a minimum of 3 months to a maximum of 6 months.
Beneficiaries can repay at any bank or by using voucher cards. Once a beneficiary fully repays, they automatically qualify for a higher loan amount
The MSMEs Survival Fund
The Survival Fund programme is aimed at helping small and medium scale businesses affected by the Covid-19 pandemic to survive. The registration has many categories and Hundreds of Thousands of Nigerians have benefited so far
THE NPOWER N-EXIT CBN LOAN PROGRAMME
It is aimed at providing soft loans to Npower volunteers disengaged by the Federal Government from their Primary Place of Assignment
Currently, more than 400,000 persons have registered
774, 000 FEDERAL GOVERNMENT JOBS
This job is meant for the poor and vulnerable in the society and will provide 1000 jobs in all the 774 Local Government Areas in Nigeria
Npower BATCH C OF 1,000,000 PERSONS
The Buhari led government will be releasing the list of npower batch C (1 and2) of 1,000,000 volunteers any moment from now
The FG recently opened her portal, and more than 5, 000,000 volunteers showed interest