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The Federal Government has promised to offer an interest-free loan of up to N300,000 to N-power beneficiaries through GEEP initiative.

GEEP means Government Enterprise and Empowerment Program. It is a Federal Govt initiative to fund Micro, Small and Medium-scale businesses in Nigeria.

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Contents ( Hide)

1 What is Npower GEEP loan?

2 The Requirements to Access GEEP loan

3 The Requirements for N-power GEEP loan

4 Step to apply for Npower GEEP loan

What is Npower GEEP loan?

N-power GEEP loan is a free-interest loan given to outgoing N-power beneficiaries to enable them to start up a business or fund already existing businesses. The N-power GEEP loan was created to help the outgoing Batch A and B N-power beneficiaries sustain and start up Micro, Small or Medium scale businesses.

 

According to Minister of Finance, Zainab Ahmed, N-Power beneficiaries will get GEEP Loan so they won’t go back to the street. So, a GEEP loan will serve as their exit package.

To obtain a GEEP loan through N-power, a beneficiary ought to pass a psychometric test.

The Requirements to Access GEEP loan

  • Applicants must have Bank Verification Number (BVN). If you have forgotten your BVN, see USSD code to check your BVN using any mobile phone.
    Must have a registered business with Cooperate Affairs Commission (CAC).
  • Applicant must belong to an accredited market association
  • Association must show interest in market-moni by submitting its information to BOI which should include a Certificate of registration.

If your association is eligible for marketmoni, an agent will be sent to your group to capture your membership information for assessment.

The Requirements for N-power GEEP loan

Government is likely to make it easier for N-power beneficiaries, so below are possible Npower requirements for a GEEP loan;

  • Bank Verification Number (BVN)
    National Identity Number (NIN). See how to check your NIN using a mobile phone.
  • Psychometric test, Npower beneficiaries are to undergo a psychometric test before the loan will be given to them.

Step to apply for Npower GEEP loan

To get started, visit npvn.npower.gov.ng

Select a program of your choice

Wait for further instructions from the support team

 

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