By Naomi Uzor
The Federal Government, weekend, said the President Muhammadu Buhari-led administration’s introduction of Tradermoni is a boost for its financial inclusion agenda.
Speaking at the launch of the scheme at Utako Ultra-Modern Market, Abuja, the Vice President, Professor Yemi Osinbajo, enjoined the traders and artisans to avail themselves of the TraderMoni loan.
He said: “Beneficiaries get N10,000 as the first loan and qualify for a larger amount of N15,000 when they pay back the loan.
“After payback of the second loan, they qualify for a N20,000 loan, and then N50,000, and then N100,000.
“TraderMoni underscores the Federal Government’s commitment to helping petty traders and artisans change their level by providing continuous loans to enable them expand their businesses.”
Osinbajo added that Federal Government, through Government Enterprise and Empowerment Programme, GEEP, had already disbursed loans of N100,000 to N120, 000 to the bigger traders.