MarketMoni


MarketMoni is an enterprise and empowerment programme of the Federal Republic of Nigeria that provides financial aid to micro-businesses that otherwise lack access to mainstream financial services and products in Nigeria. MarketMoni is part of the Government Enterprise and Empowerment Programme, one of the Social Investment Programmes of the Nigerian Government. MarketMoni provides loans to traders with no interest except its 5% administrative fee.

History

MarketMoni founded in May 2016 is a social intervention programme for traders in Nigeria. The GEEP programme was flagged off with N140billion and is currently available in over 36 states in Nigeria. MarketMoni is designed for medium scale entrepreneurs consisting of market women, artisans, and youth/market associations. A Bank Verification Number is required to receive loans which are deposited in beneficiaries’ bank accounts. Loans and capitals are provided to traders between the amount of N10,000 to N300,000 depending on the scale of business. The MarketMoni programme is funded by the Nigerian Federal Government, supervised and implemented by the Bank of Industry overseen by its Executive Director Toyin Adeniji and uses Zenera consulting as its communications and branding consultants. In 2018, MarketMoni announced that it had received over 350,000 beneficiaries since inception.
On 4 May 2019 Vice President of Nigeria Yemi Osinbajo launched the second phase of the MarketMoni programme in Anambra State.