The Bank of Industry (BOI) has disbursed N50, 000 each to 1000 market women in the Federal Capital Territory, Abuja, under the Government Enterprise and Empowerment Programme (GEEP).
The BOI partnered the National Council of Women Society (NCWS) to disburse loans to market women, who are also members of the society.
Speaking at the flag-off of the loan scheme in Abuja, President of NCWS, Dr Gloria Laraba Shoda, said this was the first time the Federal Government would be paying money directly into the accounts of market women for them to grow their businesses.
“Some of them are doing small businesses and N50, 000 is a lot of money to them. We are hoping that these women will collect these loans, pay back in six months and collect again and continue their businesses,” she said.
The Managing Director of BOI, Olukayode Pitan, represented by the Bank’s Executive Director of Micro Enterprises, Toyin Adeniji, said the loans scheme will be extended to all local government areas in Nigeria.
The GEEP, also known as MarketMoni, is part of the national social investment programme of the Federal Government being executive by the BOI.
A beneficiary of the loan, who is also the President of Divine Treasure Women and Youth Empowerment, an affiliate of NCWS, Mrs Ayorinde Deborah Olusayo, confirmed that she had received the alert.