Beneficiaries of the Government Enterprise and Empowerment Programme (GEEP) in Bauchi State has been called upon to invest wisely, this call was made by the State Acting Director NOA, Alhaji Nuru Yusuf Kobi during an interactive meeting with over 400 beneficiaries of the loan schemes in Bauchi Local Government Area held at Zaranda Hotel Bauchi. He stated that the GEEP programme seeks to provide financial inclusion and access to credits for market women, artisans, women cooperatives, enterprising youth and small farmers. The programme targets 1.66 million beneficiaries across the country. Therefore beneficiaries who meets the requirements and secure the loans should invest wisely into credible business that would yield profits, that repayment is the keyword that should be ringing belt in the ears of all beneficiaries. Nuru Kobi further advised the male beneficiaries not to use the loan to brings in new wife as the loan wouldn’t be an awuf bonus, but to provide loans to markets women and Traders, Artisans, Enterprising youths and small scale farmers and Agric Workers nationwide, available loans amounts of: N10,000, N20,000, N50,000, N100,000. Loan Tenor is 6 months and the mode of payments is weekly but with two week grace period. It’s interest free loan with administrative fee of only 5%(no other changes).
In his presentation the Focal Person Social Investment Programme Bauchi State, who also double as the Senior Special Assistant to the Governor Bauchi State on Non-Governmental Organisations Alhaji Mansur Manu Soro said the loans requirements includes ;-( a ) You must belong to a registered and credited Markewts Association, cooperative or trade group. ( b ) You must have a valid BVN ( c ) Your Markets Association, cooperative or trade group must nominate you for a loan and must be willing to stand in as your guarantor. ( d )Your Markets Association, cooperative or trade group must be registered with BIO. ( e ) You must have a business location which will be verified by Market Moni agent. Meanwhile 600 women cooperative societies have been identified and thier list were submitted to the National office through the Bank of Industry (BOI) for scrutiny.