Prof. Yemi Osinbajo, yesterday in Iwo, Osun State, launched
‘TradeMoni’, saying no government in the history of the country had
outperformed President Mohammadu Buhari in boosting the economy.....
Osinbajo
‘TradeMoni’ an initiative of federal government, through Bank of Industry, BOI,
and Government Enterprise and Empowerment Programme/GEEP, is a social
intervention programme.
Prof Osinbajo said the programme was part of the
federal government social intervention aimed at funding micro business in the
country. Osinbajo said: “TraderMoni scheme, is targeted at petty traders,
market women, artisans and small scale business enterprises to cater for
ultra-micro enterprises.
“The policy of the Federal Government is to support
businesses, not just big business but particularly small, medium-sized
businesses and micro businesses. The whole idea is that we want to ensure that
we give whatever support to people to alleviate their businesses. “For
instance, if we give you N10,000 and refund within six months then you are
qualified to collect N15,000.
If you pay back the sum of N15,000 you are
qualified to get N20,000.” In his remarks, the Executive Director, Bank of
Industry BOI, Mrs Toyin Adeniji said that no fewer than 30,000 beneficiaries
would have access to the loan, but said 10,000 would be captured in the first
phase. Mrs Adeniji said: “Our agents have already met the market women at their
point of sales to register them, they would get the money and pay it back
immediately through Mobile Wallet.
Infact, many people have started receiving
the alert.” “Under ‘TraderMoni’ traders don’t need any document or property to
collect N10, 000 loan from the Federal Government.”
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