BoI provides 10k-100k loans to Benue’s market women, youths others

As part of landscape the Bank of Industry (BOI), Nigeria’s drive to promote women & youth engagement in Agric-business and the overall development of Benue business has made provisions for loaning market women, youths, farmers, Agric. workers, traders and artisans of the State between the sum of N10, 000 and N100, 000.

This development, which was made public via the industry’s twitter handle this morning, was channeled to empower, encourage and improve people of the mentioned professions.

However, in order to avoid the programme from being taken for granted, BOI clearly stipulated conditions on the loan.

terms and condition for the loan
The conditions given by Bank of industry are;

1).You must belong to a registered & accredited market association, cooperative or trade group. 2).You must have a BVN
3). your market association, cooperative or trade group must nominate you for a loan and must be willing to stand in as your guarantor.
4). you must have a business location which will be verified by #MarketMoni agents.
5). Association, cooperative must be registered with BOI.

The post did not reveal the interest percentage.

Benue State government gives support
Benue state governor, Mr. Sam Ortom also show support to the programme by releasing 60% of the state N2 Billion matching fund signed with BOI for the women empowerment.

It’s recalled that the matching fund agreement was signed by the two parties, BOI and Benue government last month.

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