Trader Moni Hasn’t Been Suspended, Osinbajo Debunks Rumour

Vice President Yemi Osinbajo has reacted to report that the Trader Moni empowerment scheme has been suspended.

Reports which had gone viral on social media platforms, had it that the scheme was suspended immediately after the 2019 elections.

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Trader Moni is an initiative of the Federal Government, through Bank of Industry and Government Enterprise and Empowerment Programme aimed at funding micro business in the country through soft loans beginning from N10, 000.

But the vice president in a statement by his Media Aide, Laolu Akande described the report as untrue and false.

Akande further explained that no fewer than 30,000 traders have benefitted from the scheme since the conclusion of the elections.

“Trader Moni, the interest/collateral free N10,000 loans for petty traders is on course. Ignore reports to the contrary.

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“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, “he said on his Twitter page.

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