Nigeria resumes TraderMoni loans with 200,000 Kano traders
London, August 2, 2019 (AltAfrica)-Over 200,000 petty traders in Kano State have benefited from the Federal Government’s social intervention programme, the TraderMoni scheme.
This is as the Government Enterprise and Empowerment Programme under the Office of the Vice -President, Prof Yemi Osinbajo, began a series of TraderMoni town hall meetings to provide beneficiaries of the scheme with opportunity to engage with financial institutions and acquire advisory services that will guide them in the utilisation of the funds for their businesses.
The Chief Operating Officer, GEEP, Uzoma Nwagba, was quoted as saying that the meetings would provide an avenue for beneficiaries to engage directly with the different stakeholders such as officials from the Bank of Industry, financial institutions and partner organisations from the private sector.
Nwagba added that the process of receiving cash out of the TraderMoni loans had been simplified and became more transparent through the printing of lists of approved applicants which is vetted by the market leaders.
The Senior Special Assistant to the President on Social Investment Programmes, Ahmed Isma’eel, said the impact of the programme on micro businesses had been significant, adding that market leaders had been empowered to take ownership of the programme and ensure that the process runs smoothly.
“The names of TraderMoni beneficiaries approved for cash out are displayed openly in the market. So no longer will hardworking traders fall prey to unscrupulous and fake agents,” he said.
The Chairman of Taruani Market Traders, Sulaiman Jido, pledged his support in cooperating with officials to ensure the process was transparent. He said he would ensure his team encouraged traders to avail themselves of the loan and keep up with their repayment obligations.