Do not misuse the GEEP loan, Ikpeazu tell Beneficiaries

By Factnews on 21/10/2017

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Abia state Governor, Dr. Okezie Ikpeazu, has advised beneficiaries of the Government Enterprise and Empowerment Program(GEEP) loan to avoid the temptation of misusing the facility.

Speaking during the launch/issue of certificate of disbursement of GEEP loan in Umuahia on Friday, Ikpeazu stated that the loan is meant to assist market women, artisans, hairdressers, farmers, unemployed youths etc.  

He charged the recipients to approach whatever they will  invest the loan in prayerfully, adding that the Bank of Industry is committed to investing on Abia version of GEEP that will benefit another 30,000 Abians who will receive N100,000 each.

GEEP loan

In his words: “We will advise that you don’t misuse the money. It is not for school fees, it is not to be used to solve family problems; it is not to serve as loan to a third party but to be deployed to your businesses. Think about it, pray over it.
“We will be sending people to train and facilitate you in your chosen endeavor. If you ever get confused and have questions to ask, feel free to contact Chinenye Nwaogu or anyone who is part of the program for advice and education. We are prepared to continue to assist and support you to make us proud.”


Governor Ikpeazu thanked President Muhammadu Buhari and Vice President Osinbajo for collaborating with state governments and BOI to empower the rural populace. He assured that Abia will be the leading light of the program, going forward.

Earlier, Abia State Focal person and Senior Special Assistant to the Governor on Youth and Job Creation, Hon Chinenye Nwaogu,  thanked the Governor for supporting the program and confirmed that over a thousand beneficiaries have been credited with the GEEP loan.

Speaking further, Nwaogu said the structure of the loan is convenient for beneficiaries, adding that the recipients were drawn from all the LGAs in the state.

Chineneye Nwaogu

Some of the beneficiaries who spoke to Factnews correspondent expressed their heartfelt joy for being among the first batch of recipients.

Mrs Favour Anyanwu, a business woman from Amaeke Ibeku in Umuahia North LGA said she will invest the money in her clothing business. Mrs Anyanwu who could not contain her joy, thanked the state government for "the life changing partnership with Federal government to improve the wellbeing of rural populace".


Another beneficiary, Mr. Collins Agbara, a farmer  from Isialangwa, said he is happy to have qualified and received the loan, promising to judiciously invest it in his farm.



Posted on October, 21 2017

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