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COVID-19: Buhari orders 3-month repayment moratorium for TraderMoni, other loans

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COVID-19: Buhari orders 3-month repayment moratorium for TraderMoni, other loans
President Muhammadu Buhari addressing the nation on the COVID-19 pandemic

By Rasheed Sobowale

The Nigerian President, Muhammadu Buhari on Sunday in his speech addressing the nation on the COVID-19 pandemic ordered three months repayment moratorium for all TraderMoni, MarketMoni and FarmerMoni loans.

Buhari also ordered similar moratorium be given to all Federal Government funded loans issued by the Bank of Industry, Bank of Agriculture and the Nigeria Export Import Bank.

“I have directed that a three month repayment moratorium for all TraderMoni, MarketMoni and FarmerMoni loans be implemented with immediate effect,

“I have also directed that a similar moratorium be given to all Federal Government funded loans issued by the Bank of Industry, Bank of Agriculture and the Nigeria Export Import Bank,” the president said.

ALSO READ: FULL SPEECH: Buhari on COVID-19 pandemic

“For on-lending facilities using capital from international and multilateral development partners, I have directed our development financial institutions to engage these development partners and negotiate concessions to ease the pains of the borrowers.

“For the most vulnerable in our society, I have directed that the conditional cash transfers for the next two months be paid immediately. Our Internally displaced persons will also receive two months of food rations in the coming weeks.”

President Buhari recalled Nigeria confirmed its first case of coronavirus disease on 27th February 2020. The number of cases have risen since then to 97, according to the Nigeria Centre for Disease Control (NCDC) report released late Saturday.

The NCDC report indicated as at 10:40pm on Saturday, the breakdown of the confirmed cases in Nigeria thus: Lagos- 59; FCT- 16; Ogun- 3; Enugu- 2; Ekiti- 1; Oyo- 7; Edo- 2; Bauchi- 2; Osun-2; Rivers-1; Benue- 1; and Kaduna- 1.

Vanguard News Nigeria.

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