There have been lots of outcry on social media about #TraderMoni, a scheme launched by the president Muhammadu Buhari administration. There were allegations that the government was using the N10,000 interest-free loans to induce voters after the scheme was in launched in Osun State lastweek.
According to the federal government, TraderMoni has been conceived since May 2016, a part of the 2-year-old Government Enterprise and Empowerment Programme (GEEP) scheme of the Federal Government. GEEP, a social intervention programme being executed by the Bank of Industry, is said to have been providing interest-free loans to petty traders and artisans across Nigeria since May 17, 2016.
Critics have said it would have been better for an administration that prides itself of being anti-corruption to wait until after the governorship election in Osun, to launch the scheme. See what some prominent Nigerians said about the scheme being launched in Osun.
The ₦10,000 tradermoni ‘loan’ to electorates in Osun and secret payment of ₦16.6 billion by the Buhari govt to Osun State government just weeks to the election (in contrast, they did not pay Ekiti) are brazen acts of high corruption by a so called anti corruption administration
— Ben Murray-Bruce (@benmurraybruce) September 9, 2018
Elections are around the corner and President @MBuhari has secretly paid ₦16.67 billion to Osun as well as give ₦10k tradermoni ‘loans’ to Osun voters. If you still believe Buhari and @ProfOsinbajo have integrity, you might as well believe a prostitute is a virgin! #RenosDarts
— Reno Omokri (@renoomokri) September 8, 2018