IYALOJA Registration Login Portal | How To Apply:IYALOJA Registration. Applying for the IYALOJA MONIE SCHEME PROGRAM involves a unique process.
The registration for this program doesn’t happen online; instead, it requires direct interaction with enumerators operating in your local area. These enumerators, designated by the Federal Government, manage the registration process and are appointed to oversee the enrollment of individuals into the IYALOJA MONIE SCHEME PROGRAM.
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Each locality or ward typically has at least one enumerator who facilitates and manages the registration process. It’s important to note that this process doesn’t involve online links or application codes; individuals seeking registration need to approach their assigned enumerator, who will carry out the registration process based on the guidelines provided by NASSCO. Additionally, it’s crucial to avoid unofficial registration platforms or forms online that falsely claim to be associated with the IYALOJA MONIE SCHEME PROGRAM, as these are not endorsed or recognized by the program administrators.
WHAT IS THE LOAN AMOUNT FOR THE IYALOJA/GEEP LOAN SCHEME?
The IYALOJA/GEEP Loan Scheme offers an interest-free loan of up to N50,000. Scheduled for launch in November 2023, the program aims to aid 1.5 million individuals. To apply, traders need to enlist with Nassco at specific markets and possess a savings account for loan disbursement. Seeking guidance from financial experts before making decisions is highly recommended.
WHAT IS THE REPAYMENT DURATION FOR THE LOAN?
The loan program allows a two-week grace period before repayment commences, spanning a repayment timeline of three to six months. Payments can be made at banks or through special cards, paving the way for further borrowing upon successful repayment.
THE IYALOJA/GEEP LOAN SCHEME BENEFITS:
Benefits stemming from the IYALOJA/GEEP Loan Scheme for petty traders include access to financial resources, encouraging financial inclusivity by promoting the use of formal banking services, and facilitating economic empowerment through business growth and job creation.
APPLICATION PROCESS:
The application process for eligible petty traders involves engaging with a Nassco enumerator in their local market. These enumerators will collect their details and establish a savings account, following which the N50,000 loan will be directly deposited into the trader’s savings account upon successful registration.
IYALOJA/GEEP LOAN SCHEME ELIGIBILITY:
• Eligibility criteria encompass Nigerian citizenship,
• operation as a petty trader in designated markets,
• a minimum age of 18,
possession of a valid bank account.
Additional details regarding the scheme highlight its inclusivity across gender, religion, and ethnicity, a loan repayment period of 12 months, no requirement for collateral, and administration by the National Social Safety Nets Coordinating Office (NASSCO).
For traders interested in availing themselves of this opportunity, reaching out to a Nassco enumerator in their local market is the primary step towards applying for the IYALOJA/GEEP Loan Scheme.