Bauchi partners Six Banks for GEEP Micro loan

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Bauchi partners Six Banks for GEEP Micro loan


The Bauchi State Social Investment Programmes Office (BSSIPO) is partnering six commercial banks to open accounts for ‎the beneficiaries of Government Enterprise Empowerment Programme (GEEP) in 20 Local Government Areas of the State.

A statement earlier issued by the office Sunday stated that the exercise commences today, 23rd October 2017.  According to the statement, the GEEP targets interested small-scale business holders who don’t have a bank account and BVN numbers which are the compulsory requirements for participation in GEEP loan.

The statement further informed that officials of the State Ministry of Commerce, Industries and Cooperatives are mandated to handle registration and organization of beneficiaries into groups and associations.  N-Power Corps will be deployed to handle documentation, transmission and processing of the loan forms.

The state government according to the statement, has also approved the constitution of Local Government Areas (LGAs) mobilisation committee.  The committee is saddled with the responsibility of ensuring adequate mobilisation and participation of genuine micro business owners at the grass root.

GEEP is a cluster of the SIPs which seeks to address challenges of accessing finance faced by an estimated 40% of micro businesses in the country.  Bauchi State is selected by the FGN/BOI as one of the priority states where 30,000 beneficiaries are targeted for the immediate disbursement of the average sum of N1.5billion before the year 2017 runs out.