Bank of Industry disburses N21million to 438 GEEP beneficiaries

By Sule ALIYU, Bauchi

 The Bank of Industry has disbursed fresh N21million loan to 438 traders in Bauchi State.

Special Assistant to Governor Mohammed Abdullahi Abubakar on Non-Governmental Organisations (NGOs) and Social Investment Programmes (SIPs) Mansur Manu Soro disclosed this yesterday after a meeting with officials of the benefiting traders associations.

The traders were beneficiaries of Government Enterprise and Empowerment Program (GEEP) also known as Market Moni, a Federal Government’s revolving loan given to small business owners.

He said that implementation of the programme  is in accordance with President Muhammadu Buhari administration’s 2017-2020 Economic Recovery and Growth Plan (ERGP) which seeks to sustain economic growth and stabilise domestic production through increased funding to SMEs.

“Bauchi state remains determined to optimally utilize the allocation of 39,000 beneficiaries granted to it by the Bank of Industry, the BSSIPO is working closely with interested commercial banks, market aggregators and super agents to facilitate the BVN enrollment, registration and on-boarding of interested persons.

“We thank His Excellency Governor Mohammed Abubakar for his continued support to the implementation of the programme,” he said.

In his remark, one of the leaders, Auwal Shu’aibu advise the beneficiaries to repay the soft loans on time as it will enable others to benefit from the gesture since the money is meant to be a revolving fund.

Shu’aibu, who is the Secretary of Wunti Market Small Scale Traders Association, warned that all avenues will be explored to collect the money back from defaulters.

On his part, the chairman of Muda Lawal Motorcycles Sellers Association, Alhaji Muhammadu Jamilu advised leaders of various traders associations that benefited from the programme to live up to their ‎responsibilities.

He said that the leaders ‎must ensure the timely payment of the soft loan by their members and urged the beneficiaries to utilise the loan and develop their various business in order to repay back the loan.