News

Nigeria: BoI and Diamond Bank partner to provide $447 million loan to micro-entrepreneurs

  • Comments   -   Monday, 13 March 2017 - 17:43

(Ecofin Agency) - The Bank of Industry (BoI) in partnership with Diamond Bank, have provided soft loans worth N140 billion ($447.8million) to micro-entrepreneurs under the Government Enterprise and Empowerment Programme (GEEP).

According to the Acting Managing Director of BoI, Waheed Olagunju, the GEEP is one of the Federal Government’s social intervention programmes executed by the bank to promote financial inclusion and access to credit for 1.6 million micro-entrepreneurs. This will be done through GEEP’s microcredit loan, which is between N10, 000 and N100, 000 and repayable in six months without interest rate, except for administrative fee.

That means, if you take N20, 000 loan you will repay N21, 000 at the end of six months. The beauty is that it is a weekly repayment, so it is easy for the beneficiary,” he said.

Commenting on the development, the Chief Executive Officer of Diamond Bank, Uzoma Dozie (photo), said the collaboration would bring about job creation, business growth and also stimulate government’s cashless policy system. We are not just providing finance but using ICT to formalize the vibrant and informal sector of the economy,” Dozie explained.

Anita Fatunji

SELECT a.* FROM #__k2_items AS a WHERE a.published = 1 AND (a.catid IN (1174, 1215, 1175, 1176, 1177, 1178, 1179, 1180, 1181, 1182, 1216, 1183, 1184, 1185, 1186, 1187, 1188, 1189, 1190)) AND a.trash = 0 ORDER BY a.created DESC LIMIT 4
From November 24 to 27, Côte d’Ivoire will receive professionals of the...
Read more |  21 November 2017
Kwesi Appiah (photo), coach of Ghana’s national football team, the Black Stars,...
Read more |  21 November 2017
Public Management
21 November 2017
cote-d-ivoire-youth-trained-on-land-issue
Last week-end in Abidjan was held a panel to teach young Ivoirians...
Read more |  21 November 2017
Naspers’ internet TV service Showmax recently broadcasted the trailer of its first...
Read more |  21 November 2017
Most Read | 7 days |
1 month |
1 year
SELECT a.* FROM #__k2_items AS a WHERE a.published = 1 AND a.created > '2017-11-14 13:52:16' AND (a.catid IN (1174, 1215, 1175, 1176, 1177, 1178, 1179, 1180, 1181, 1182, 1216, 1183, 1184, 1185, 1186, 1187, 1188, 1189, 1190)) AND a.trash = 0 ORDER BY a.hits DESC, a.created DESC LIMIT 5
SELECT a.* FROM #__k2_items AS a WHERE a.published = 1 AND a.created > '2017-10-22 13:52:16' AND (a.catid IN (1174, 1215, 1175, 1176, 1177, 1178, 1179, 1180, 1181, 1182, 1216, 1183, 1184, 1185, 1186, 1187, 1188, 1189, 1190)) AND a.trash = 0 ORDER BY a.hits DESC, a.created DESC LIMIT 5
SELECT a.* FROM #__k2_items AS a WHERE a.published = 1 AND a.created > '2016-11-21 13:55:27' AND (a.catid IN (1174, 1215, 1175, 1176, 1177, 1178, 1179, 1180, 1181, 1182, 1216, 1183, 1184, 1185, 1186, 1187, 1188, 1189, 1190)) AND a.trash = 0 ORDER BY a.hits DESC, a.created DESC LIMIT 5
SELECT a.* FROM #__k2_items AS a WHERE a.published = 1 AND (a.catid IN (1174, 1215, 1175, 1176, 1177, 1178, 1179, 1180, 1181, 1182, 1216, 1183, 1184, 1185, 1186, 1187, 1188, 1189, 1190)) AND a.trash = 0 ORDER BY a.created DESC LIMIT 4, 4
listofid2=37740,37739,37738,37737,
reference=37740,37739,37738,37737,0
On November 17, 2017, the telecom operator Algérie Telecom has revealed it...
Read more |  21 November 2017
Fourth largest gold producer in Africa, Mali has announced last Friday that...
Read more |  21 November 2017
In a statement released last week, the Nouvelle Société Cotonière du Togo...
Read more |  20 November 2017
SELECT a.* FROM #__k2_items AS a WHERE a.published = 1 AND (a.catid IN (1174, 1215, 1175, 1176, 1177, 1178, 1179, 1180, 1181, 1182, 1216, 1183, 1184, 1185, 1186, 1187, 1188, 1189, 1190)) AND a.trash = 0 ORDER BY a.created DESC LIMIT 4
From November 24 to 27, Côte d’Ivoire will receive professionals of the...
Read more |  21 November 2017
Kwesi Appiah (photo), coach of Ghana’s national football team, the Black Stars,...
Read more |  21 November 2017
Last week-end in Abidjan was held a panel to teach young Ivoirians...
Read more |  21 November 2017
Naspers’ internet TV service Showmax recently broadcasted the trailer of its first...
Read more |  21 November 2017
Most Read | 7 days |
1 month |
1 year
SELECT a.* FROM #__k2_items AS a WHERE a.published = 1 AND a.created > '2017-11-14 13:52:16' AND (a.catid IN (1174, 1215, 1175, 1176, 1177, 1178, 1179, 1180, 1181, 1182, 1216, 1183, 1184, 1185, 1186, 1187, 1188, 1189, 1190)) AND a.trash = 0 ORDER BY a.hits DESC, a.created DESC LIMIT 5
SELECT a.* FROM #__k2_items AS a WHERE a.published = 1 AND a.created > '2017-10-22 13:52:16' AND (a.catid IN (1174, 1215, 1175, 1176, 1177, 1178, 1179, 1180, 1181, 1182, 1216, 1183, 1184, 1185, 1186, 1187, 1188, 1189, 1190)) AND a.trash = 0 ORDER BY a.hits DESC, a.created DESC LIMIT 5
SELECT a.* FROM #__k2_items AS a WHERE a.published = 1 AND a.created > '2016-11-21 13:55:27' AND (a.catid IN (1174, 1215, 1175, 1176, 1177, 1178, 1179, 1180, 1181, 1182, 1216, 1183, 1184, 1185, 1186, 1187, 1188, 1189, 1190)) AND a.trash = 0 ORDER BY a.hits DESC, a.created DESC LIMIT 5
SELECT a.* FROM #__k2_items AS a WHERE a.published = 1 AND (a.catid IN (1174, 1215, 1175, 1176, 1177, 1178, 1179, 1180, 1181, 1182, 1216, 1183, 1184, 1185, 1186, 1187, 1188, 1189, 1190)) AND a.trash = 0 ORDER BY a.created DESC LIMIT 4, 4
On November 17, 2017, the telecom operator Algérie Telecom has revealed it...
Read more |  21 November 2017
Fourth largest gold producer in Africa, Mali has announced last Friday that...
Read more |  21 November 2017
In a statement released last week, the Nouvelle Société Cotonière du Togo...
Read more |  20 November 2017

Copyright Agence Ecofin © 2015. All Rights Reserved.