GEEP Market Moni Loan Scheme for Nigerians : Application, Requirements etc

The BOI GEEP Market Moni loan scheme is a Social Intervention Programme (SIP) of the Federal Government of Nigeria, executed by the Bank of Industry (BOI), a parastatal of the Federal Ministry of Industry, Trade and Investment. The interest-free loans range between N10,000 and N100,000 for owners of microenterprises.

It commenced in December 2016. So far, BOI has recorded thousands of beneficiaries, working through a network of over market moni 5,000 agents, in all states of the federation.

GEEP MarketMoni directly impacts traders, market women, artisans, and farmers nationwide.

Beneficiaries typically belong to an accredited market association or cooperative group registered with their state’s Corporate Affairs Commission. They are required to own a bank account, a bank verification number and a mobile phone.

The loan, which only attracts a five per cent one-time administrative charge, is repayable within a period of six months, with two weeks grace period.

GEEP MarketMoni is the most ambitious microcredit scheme in the history of Nigeria, and the largest in Africa.

GEEP Market Moni Loan Requirements

  • You must belong to a registered and accredited market association, cooperative or trade group
  • You must have a valid BVN.
  • Your market association, cooperative or trade group must nominate you for a loan and must be willing to stand in as your guarantor.
  • Your market association, cooperative or trade group must be registered with BOI
  • You must have a business location which will be verified by MarketMoni agents.

geep market moni loan scheme for nigerians

 

How To Apply For GEEP Market Moni Loan In Nigeria

Before you can apply for GEEP market moni loan in Nigeria, you must belong to an accredited market association or cooperative registered in your state or with the CAC. Your association or cooperative must indicate its interest in MarketMoni by submitting its information to BOI including its certificate of registration.

If your association or cooperative qualifies, a MarketMoni agent would be sent to your group promptly to capture your members for loan assessment.

You can submit GEEP market money loan application through the MarketMoni web portal ( (http://www.marketmoni.com.ng ) and you can also make us of paper market moni registration forms.

Market Moni Registration Form

You can fill the market moni registration form at MarketMoni website. >> http://marketmoni.com.ng/

Market Moni Agents In Nigeria

You can view the list of market money agents per state in Nigeria at :  http://marketmoni.com.ng/agent-network/

NB: GEEP Market moni is different from Trader Moni Initiative. TraderMoni gives you access to loan up to N50,000 while MarketMoni gives you up to N100,000 loan.

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