4 things you should know about Trader Moni, Buhari’s N10, 000 distribution programme
The federal government through the Bank of Industry (BoI) and Government Enterprise and Empowerment Programme (GEEP) has commenced ‘Trader Moni’ in Katsina State, a platform through which traders could get up to N10,000 loan at the first instance.
Traders’ moni programme was part of the federal government’s programme aimed at funding micro business in the country.
Here are the four things you should know about Trader moni:
1. Under ‘Trader Moni’, traders don’t need any documents or property to collect N10,000 loan from the federal government.
2. if you give receive 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.
3. Trader Moni scheme is targeted at petty traders, market women, artisans and small scale business enterprises to cater for ultra-micro enterprises.
4. The repayment plan is for six months and beneficiaries would pay a paltry N250 interest on the N10,000 and qualify for a bigger loan thereafter.