+What You Need To Do To Get It
That is what everybody is talking about right now, as Vice President, Prof. Yemi Osinbajo has been moving round the states to launch the Federal Governments N10,000 interest free loans, otherwise known as Trader Moni in more markets across the country. Last week, Vice President, Prof. Yemi Osinbajo, launched the Federal Government’s N10,000 interest free loans, otherwise known as Trader Moni in 3 more Lagos markets.
Osinbajo who led other Federal and state government officials to Ikotun, Igando and Ile-Epo markets urged the traders to make judicious use of the loans to secure more from Federal Government.
Interacting with the traders, Osinbajo said the objective of the scheme would be defeated if traders do not repay the loan to secure more.
“This is one initiative this administration has put in place to address the plights of those at the grassroots. To help you grow your businesses and make lives meaningful to you and your families. That’s why we ensure there is no collateral and when you repay the loans, you can secure more from government because it shows you are serious with what you are doing,” he said.
Some of the traders who spoke to Vanguard Newspaper applauded the gesture but pleaded for more loans saying they would be willing to boost their trades and businesses with as much funds as possible made available to them.
Kemi Adebayo, a pure water dealer in Ikotun market expressed readiness to invest the money in her trade. She said although she would love the money to be increased, “I will make judicious use of the fund to qualify for more loans.
Similarly, Kunle Olaifa, a rice seller at Igando said it took the arrival of TraderMoni officials in the market for him to be convinced that it was really.
“When they say TraderMoni, I always thought it was one of these political gimmicks. But today, I am convinced it is real. If I can repay the loan given, I have been assured of prompt additional money,” Olaifa said.
The Trader Moni is designed to help petty traders expand their trade through the provision of collateral free loans of N10,000.
Market Moni loan Application Scheme
1 How to register for the 2018/2019 Federal Government Scheme Trader Moni
1.0.1 Related Posts
The Trader Moni was launched last Tuesday in 5 markets in Lagos State recording thousands of beneficiaries already. Trader Moni was launched in partnership with the Bank of Industry (BoI) in order to enlarge government’s “financial inclusion agenda down to the grassroots, the bottom of the ladder, considering the contribution of petty traders to economic development.
Under the scheme, beneficiaries can get access to a higher facility ranging from N15,000 to N50,000 when they repay N10,000 within the stipulated time period (6 months).
Requirements for the MarketMoni/Trader Moni FG Loan Scheme 2018/2019
You must be a Nigerian. You must be 18 years and above. You must be a business owner or a trader. You must belong to a market cooperative union in your location. You must have a valid identification. You must have a valid BVN. You must have a valid SIM/phone number that is register with the service providers. How to register for the 2018/2019 Federal Government Scheme Trader Moni. The online loan application portal has been created for the convenience of BOI’s prospective SME customers in the sense that they do not initially have to come physically to the Bank to submit their loan applications. It also has the advantage of shortening the loan processing Turn-Around-Time (TAT) of the bank. The portal has document uploading capability as well as allows the loan applicant select the preferred BOI State Office location where the application will be processed. The online loan application portal can be accessed on the bank’s website: www.boi.ng/apply.
How to use the Portal
Go to our website: www.boi.ng. Click on the “apply for loan now”. Click on “register here” to register your account.
A verification link and tracking code are sent to your registered email address; click on the verification link to facilitate log in.
Once logged in, you can complete the application form, save and click on “continue” to submit the form.
A mail will be sent to your email address confirming receipt of the application.
The first amount to receive will be the sum of N10,000. Once this can be repaid, you will be granted access to receive N15,000 in your next application, etc.
So wait for the turn of your state and find out more from your market cooperative unions or visit the bank of industry website.
The loans are repayable within a period of 6 months.
Closing Date for Trader Moni. Not closing date slated yet.