Breaking News
Translate

Why we are giving N10,000 collateral free loans – Presidency

Says PVC not condition for the loan
By Johnbosco Agbakwuru

ABUJA – THE Presidency last night debunked the insinuation that beneficiaries of the Federal Government Trademoi, N10,000 collateral free loan must present their Permanent Voters Cards, PVC, before they qualify for the loan.

President Buhari with Osun State Governor Rauf Aregbesola, APC Gubernatorial Candidate in Osun State Mr Gboyega Oyetola and others at Dinner with South West APC Leaders and Gubernatorial Aspirants of Osun State in State House on 30th Aug 2018

.
The Senior Special Assistant to the President on Media and Publicity Office of the Vice President, Laolu Akande explained that the President Muhammadu Buhari’s administration will intensify its efforts to empower more Nigerians with the collateral free loans to petty traders across the country.

Akande while giving an update on the scheme said that there was no documentation of any kind iwas required before one is qualified for the loan.

According to him, “The petty traders are not required to show PVC, or any document for that matter, they are only expected to show they are petty traders and this is why the enumeration is done in the markets and wherever the traders ply their trades.”

He also explained that those who question the timing of the loans have forgotten that the credit scheme was part of the Social Investment Programme of the Buhari presidency, and has commenced in 2016.

Stressing that the Trader Moni was specifically conceived in 2016, he said “Must we then suspend the empowerment of the traders just because some people will insinuate motivations?

“The petty traders whose trades and lives are being positively impacted as they receive the N10,000 are telling a different story from those making political insinuations. And it is their stories that inspire us.

“Nigerians already know that the Buhari Administration is one that is projecting the interests of the common man, Nigerians who are at the lower rungs, and this is not a new perception at all.”

He disclosed that the interest free loans which has now been launched in eight States including the FCT would be extended to more States including Oyo, Cross Rivers, and Kaduna States this week.

He said the micro-credit scheme has been introduced in Lagos, Kano, Abia, Akwa Ibom, Katsina, Osun, FCT, and Kogi.


Disclaimer

Comments expressed here do not reflect the opinions of vanguard newspapers or any employee thereof.