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TraderMoni: Over One Million Traders have Benefitted, Says Osinbajo

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…Launches 2nd Phase in Oyo

By Bode Akinbode,Ibadan

Vice president Yemi Osinbajo has said that over one million petty traders across the country have so far benefitted from the collateral free loan to traders under the Government Enterprise Empowerment Programme tagged: TraderMoni, just as he launched the second TraderMoni scheme in Oyo State.

Osinbajo stated this in an interview with journalists on Thursday shortly after launching the scheme in the popular Bodija and Oje markets in Ibadan where hundreds of petty traders benefitted from the scheme.

TraderMoni which is an initiative of the Federal Government initiative, was aimed at providing two million petty traders across the country with collateral-free loans before the end of the year.

The excited crowed thronged and cheered as Osinbajo walked into the markets accompanied by Governor Abiola Ajimobi and members of the executive cabinet.

The vice president stated that the Federal Government was poised at empowering petty traders in improving their businesses, adding that the scheme was aimed at ensuring that the government gives credit to people at the bottom of what he said.

Prof. Yemi Osinbajo

“We have observed that nobody wants to these traders credit because lenders believe they won’t pay back. The market traders represented the most significant percentage of those who engage in commercial activities.”

“Both TraderMoni and MarketMoni scheme seek to address that large population or persons involved in commercial activities who usually do not have access to credit.”

“It’s a programme that is running across the country. So in the first phase, two million petty traders were done and at the moment, I’m not sure the exact number as of today in the second phase, but we are definitely sure over a million petty traders have already benefitted,” the vice president disclosed.

He added that the social investment programmes were wholly government funded and part of the APC agenda, stressing the scheme was further targeted at petty traders on the streets.

Osinbajo said the government would soon establish the people’s money bank devoted to to give credit to those at the bottom of the pyramid

The TraderMoni, designed to help petty traders expand their trade through the provision of collateral-free loans of N10, 000 is repayable over a period of six months.

Under the scheme, beneficiaries can get access to a higher facility ranging from N15, 000 to N50, 000 when they repaid N10, 000 within the stipulated time period.

Also in the team was Toyin Aimakhu and others whose presence added fervour to the visits as her fans hailed and surged to exchange banters with her.

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