Mediangr.com
A Nigerian News & Online Scholarship, Job Portal.

More Money For TraderMoni Loan – Osinbajo

0 1,226

More Money For TraderMoni Loan – Osinbajo. Nigeria Vice-President Yemi Osinbajo on Thursday told beneficiaries of the TraderMoni loan scheme in Gbagi Market, Ibadan that more funds would be committed to the scheme as soon as the traders began to pay back.

The Vice-President was in the market to assess how the loan was being executed and to ensure that all registered traders got the money. Twenty-seven thousand petty traders and artisans benefited from the scheme in Oyo State.

READ ALSO: TRADERMONI: FG To Empower 2Million Traders Loans Without Collateral

The collateral-free loan, which was dispensed through the Bank of Industry, is part of the Federal Government’s National Social Investment Programme under the Government Enterprise and Empowerment Programme meant to reinforce the Federal Government’s commitment to bridge the credit gap and empower Nigerians at the grassroots.

It targets 30,000 petty traders and artisans in Oyo State, with each of the beneficiaries entitled to N10,000.

READ ALSO: BOI Online Loan Application Portal www.boi.ng | How to Apply Tradermoni Form

Subscribe to our newsletter

“The policy of the Federal Government is to support businesses through the scheme, not just big businesses but particularly small, medium-sized and micro businesses. I came personally to the market to ensure that those who are meant to collect the money are getting it. I want to know how the scheme is going on in Gbagi Market,” Osinbajo said.

The VP said the Federal Government recognised the genuine contribution of petty traders to aid the nation’s economy, stressing that the loan was a progressive one, which would not only help traders to expand their businesses, but also change their standards of living.

READ:  GTBank SWIFT Code - Guaranty Trust Bank Nigeria SWIFT BIC

READ ALSO: BOI Online Loan Application Portal (TraderMoni)

Subscribe to our newsletter

He stated that more of such loans would be made available as soon as the beneficiaries began to pay back.

According to the scheme, beneficiaries have six months to repay the loan with flexible options of N85 daily or N430 weekly.

The Executive Director, Bank of Industry, Toyin Adeniji, said everyone that registered for the loan would get the money.

“For now, we have 27,000 beneficiaries but the target is 30,000 in the state. Beneficiaries who pay back as scheduled will have the opportunity to graduate to the next level of the loan. They can graduate to N15,000, N20,000 or even N50,000 levels and beyond. We implore them to use the money for the purpose for which it is intended,” she explained.

Hot Vacancies in Nigeria You Can’t Miss.

Subscribe to our newsletter

One of the beneficiaries, Oladunni Aderinto, who sells okra in the market, thanked the Federal Government for the loan, while calling on other beneficiaries to pay back as scheduled.

READ:  United Bank for Africa 2018/19 Graduate Trainee Recruitment and How to Apply

Another beneficiary, Toyin Adegbite, said traders needed such loans to boost their trade and cater to their immediate financial needs.

List of Top 11 government job vacancies

  1. Federal Civil Service 2018/2019 Recruitment
  2. NEITI Recruitment 2018/2019 Application Registration Form
  3. NAIC Recruitment 2018/2019 Registration Form
  4. Code of Conduct Bureau Recruitment 2018/2019 Registration Form
  5. CPC Recruitment 2018/2019 Registration Form www.cpc.gov.ng
  6. Rivers State Civil Service Recruitment 2018/2019 Form | Apply 20 Positions
  7. NNPC Recruitment 2018/2019 Application Registration Form | Registration Guide
  8. NHIS Recruitment 2018/19 Application Registration Form
  9. Zenith Bank Recruitment 2018/2019 for Graduate Trainee and Non-Graduates
  10. INEC Adhoc Recruitment 2018/2019
  11. CBN Recruitment 2018/19 | cbn.gov.ng | Apply Central Bank of Nigeria Job Vacancy
Subscribe to our newsletter
Subscribe to our newsletter
Please check your email immediately you Register, to complete the process.
You can unsubscribe at any time
Subscribe to our newsletter
Sign up here to get the latest news, updates and special offers delivered directly to your inbox.
You can unsubscribe at any time

Leave A Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Subscribe to our newsletter
Please check your email immediately you Register, to complete the process.
You can unsubscribe at any time