FG: We haven’t stopped Trader moni, after winning election

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The federal government has urged Nigerians to disregard reports, that it has stopped the Trader Moni scheme, upon winning the election.

According to Olaoluwa Akande, media aide to vice Yemi Osinbajo on Wednesday, about 30,000 new loans have been given across ten states since after the February 23rd, presidential election.

He stated also that the Buhari led government is so committed to the scheme, that there 10 million Nigerian petty traders would benefit, in the next four years.

Full statement below

Trader Moni, the interest/collateral free N10,000 loans for petty traders is on course. Ignore reports to the contrary. In fact, since after the elections, about 30,000 new loans have been given across ten states.

Also since traders have started repaying, N15,000 disbursements have also commenced to petty traders in Lagos, Borno, Ogun & Oyo States. Recall that with Trader Moni once the initial N10,000 is repaid, the trader gets another N15,000, and then N20,000 up until about N100,000 loan.

The Buhari administration is committed to this scheme and in the Next Level Implementation ten million Nigerian petty traders would benefit, ie a significant increase from the initially planned two million beneficiaries. And this is for all the 36 States and the FCT.

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