This figure was revealed by the BoI Executive Director Toyin Adeniji during a briefing in Abuja on Monday.
According to Adeniji, the Trader Moni Scheme has recorded 1.2million new entrants into the formal financial system as new operators of bank accounts or mobile wallets.
In addition, he said these loans cover 2,600 markets and clusters in the country with over 4000 agents on the ground.
“GEEP loans can be repaid by walking into commercial banks and paying over the counter, paying at local agents of our aggregators or our mobile representatives and by purchasing of GEEP vouchers in your marketplace and recharging your loans account just like a telco recharge card,” he said.
Trader Moni: How To Get Loan, Become Agent Nationwide
He added that the bank did not go through market leaders in the disbursement of the loans so that those qualified will benefit from the scheme.