To Anthony Edibo, a condiment seller who displays his wares in a wheelbarrow at the Eke-Awka market, Anambra state, getting financial help from private bodies looked impossible talk less of the help coming from the Federal Government. When TraderMoni enumerators visited the Eke-Awka market in September 2018 to introduce the TraderMoni scheme, it was with a mix of disbelief and hope that Anthony enrolled for the scheme.

https://twitter.com/Trader_Moni/status/1064501477677387776

Anthony’s disbelief was busted when he got his TraderMoni loan within 24 hours of being captured. Anthony had this to say upon getting the loan:

“I’m very very happy. I’m very grateful for the privilege they brought for us now. I know that they are now ready to help Nigerians and I thank them so much.”

Anthony is just one of the many beneficiaries who are closer to achieving their business goals because of the TraderMoni loan. TraderMoni is one of three soft loans programme launched by the Federal Government under its Government Enterprise and Empowerment Programme (GEEP) to provide credit facilities to businesses and farmers across the country. The other two soft loan initiatives are FarmerMoni and MarketMoni, which are targeted at farmers and small businesses respectively.

TraderMoni provides collateral-free and interest-free loans starting from N10,000 to micro-businesses such as petty traders and artisans, without any of the stress associated with getting loans from other financial bodies. These financial bodies cannot be blamed for being strict with their loan facilities, since the risks associated with giving credit cannot be overlooked. One of such risks is the uncertainty of the loan been repaid. Looking at all these factors, the Federal Government decided to step in and make access to credit facilities easier for small businesses. The Vice President, Prof. Yemi Osinbajo, emphasised this when he visited the Eke-Awka market in Anambra state. It is interesting to note that over 20,000 beneficiaries have emerged from the scheme in Anambra. During his visit, the Vice President explained that TraderMoni was a Federal Government project where micro credits were provided to the lowest in the rank of the trading value chain. Many of them are not given such facility or loan because nobody is sure that they will pay back or not.

“Only the Government can guarantee that kind of facility and it is the Bank of Industry (BOI) that actually administers the loan.”

TraderMoni loans have a repayment period of six months and are administered by the Bank of Industry. The process through registration, disbursement, and repayment of TraderMoni loans is quite seamless and hassle-free which has made the government’s goal of financial inclusion more achievable. In some cases, beneficiaries have been known to get their loans within 24 hours of being captured for the same, since they do not need to fill any paper forms, provide guarantors or collateral.

The traders also have the opportunity to grow in the scheme. When they repay the initial loan of N10,000, they qualify for a higher loan of N15,000, then N20,000, N50,000 and a maximum of N100,000.

Measuring the impact of the TraderMoni scheme is best done by hearing from the beneficiaries. Testimonies abound from petty traders and artisans across different markets in the South-East states. One of such is the story of Mr John, a petty trader who sells second-hand shoes at the Imo International Modern market, Egbeada, Imo state. Mr. John had heard about the scheme from a friend, and was interested in enrolling for it. When asked if the loan will have any impact on his business, Mr. John replied:

“It will go a long way in helping my business, because with this little one I have gotten I can go to Aba and pick some new shoes, then the face of my shed can make a change,” he said.

https://twitter.com/Trader_Moni/status/1047939129806376961

Nwibo Chinyere, a fashion designer in Aria Market, Enugu State is another happy TraderMoni beneficiary. In her words, "the loan will help me in many ways o. I will use it and buy some materials like linen, thread, many of it. I will use it to support my own business. I want to thank the Government o, because I can say they are using this loan to support poor people like us. As dem remember all these petty traders like us in market, I say may God bless them and reward them.”



https://twitter.com/Trader_Moni/status/1047370512383561729

In Abia state, Mrs. Angela Ikechukwu also benefited from TraderMoni. Mrs. Ikechukwu sells foodstuff at the Ama-Ogbonna market, Aba, and had heard about the scheme on Television. This made it easy for her to enrol for the scheme when the enumerators visited her market. She said she was very excited to get the loan because it will help her to buy more products to sell.

Ebonyi state has not been left out of this business boosting scheme. Edward Agu is one of the beneficiaries of the scheme in Ebonyi state. Edward who repairs grinding machines, and sharpens knives at the Meat market, Abakaliki initially thought the scheme was not real. When he got his loan within two days of enrolling, he became a believer. In his own words:

“As I don get the money now I dey happy, I thank una and I thank the Federal Government wey map out this kind gesture for us. E go help us we no go dey suffer hungry anymore. If dey continue to dey do like dis, nobody go dey cry hunger again.

E get one of my engines wey spoil wey I go carry am go repair now to enable me do the job more and more.”

https://twitter.com/Trader_Moni/status/1047569610525040640

Asides the stories from beneficiaries, an even more telling commendation for the TraderMoni scheme is the award by the African Bankers crowning TraderMoni as Africa’s most impactful financial inclusion scheme. The award was presented to the Bank of Industry at the African Bankers’ Award ceremony which held in Equatorial Guinea on the 11th of June, 2019.

Removing the barrier that keeps micro businesses from getting credit facilities is one feature that makes the TraderMoni scheme attractive to beneficiaries. Extra points must be given for making collection and repayment of these loans easy for traders. Little wonder thousands of petty traders have benefitted from TraderMoni, and many more are waiting eagerly for the programme to get to their markets.

Did You Know?
GEEP has impacted over 2 million small and micro businesses.
Over 56% of beneficiaries are female.
Professions: Artisans, petty traders, farmers and market women.
Over 2600 markets have been activated across the 774 LGAs in the 36 states and the F.C.T.
GEEP has worked with 7000 market cooperatives, farming clusters and field agents.


@alexreports

10k, boost business for this Buhari era!

Trader Scam. Because of Buhari I'm now selling intimacy gadget. A whole me. God punish them and their trader money.


Patronize me please. Buy silicon Fleshlight from me. Women, buy for your husband for when you're away.

hh

This government is Scam!

Saddest part is that a pastor and and Professor of Law is spearheading this one.

That T-shirt alone costs up to 2k and your are claiming your stipend is "boosting micro businesses" ?!!!

Do they even have conscience at all?

And they said they don't want anything from Buhari

thunder fire una there, indi ara

Okay ooooooo

Bastards think they are talking to fools

Next Level bastards

Spit **

vankaid:
This government is Scam!

pek:
Seun, is this tradermoni stuff sponsored? I keep seeing it on front page. The scheme is a scam cause it is enriching the agents.

DadaStephen1:
TraderMoni Sham

Iceman2017:
10k wey you no fit put for pocket take a woman out?
Haba! I don't know if there is another meaning to the word boost.

crestedaguiyi:
thunder fire una there, indi ara

etebefia:
Propaganda all the way.

Endtimebro:
Is like the word 'boost' has another meaning than the one I know.
Anyways, end time money, end time boosting, end time business

Avater0147:
What type of business are u starting with 10k?? this people dn crase o, mugu

The Only thing that the market men and women are benefiting directly from the FG since 20 years of democracy is causing you wailers so much pain and bitterness this way?!
You would have been happy if the billions of Naira going to these lowest of the low in the society is used to buy more Jewelries for Diezani and co as usual right?

Are you guys always like this 24/7 of your lives?
You better stop your self-imposed misery in life and try to be happy for a minute!

Paroh:
Trader Scam. Because of Buhari I'm now selling intimacy gadget. A whole me. God punish them and their trader money.

A WHOLE YOU?!
Hehehe .
Wetin Musa no go see for gate?
Na u be Cuppy Otedola or Adenuga pikin abi?!
U beta keep up with ur hustle make hunger no pay you visit!

Wailers everywhere!
Always in severe pains reading such good news as this!
Una go wail for 4 years on a daily basis, una tears go dry!

Huh

10k wey you no fit put for pocket take a woman out?
Haba! I don't know if there is another meaning to the word boost.

TraderMoni Sham

Seun, is this tradermoni stuff sponsored? I keep seeing it on front page. The scheme is a scam cause it is enriching the agents. They are cutting from the people's money.

For those interested.
These are the simple steps on how to Get Trader Money.

1.
Identify Agents
Identify any of our Agents in your state

2
Capture Details
The Agent will Capture your details

3
Text Message
If you qualify, the Federal Government will send you a text message with a code you will dial to get the funds.

4
Pay Back
GTB, UBA, Ecobank, UnionBank, Stanbic, Sterling, Wema, Fidelity, Heritage, Jaiz.

And the loan is between #10,000 to #50,000,
not just the #10,000 the children of hate and perdition are passing around.

Nigeria will be great again.

zabuur:
A lot of people are here condemning the 10k as it isn't enough for any business.

I'll tell u this, if you aren't in other people's shoes, u can't feel their pains.

I'll share a little experience here with y'all, this isn't hearsay mind u.

Few months ago, I was approached by a stranger who was weeping and begging that she needed money to start a business and I asked, how much, she said 3 to 5k. Asked what kinda business, she said she wants to be selling bags of pure water. I looked in my wallet and counted 3k for her, the way she wept, prayed and thanked me was so embarrassing. I'd to just rush away from there.

Imagine if she ended up doing the business, 3k might be small but, she could buy approximately 38 bags of pure water to start with.

10k might actually be small, but, a lot have been killed (jungle justice) stealing less.

All those shouting, do toy expect FG to start doling out monies anyhow?

God bless you real good for sharing this.
You are an inspiration.
Stay blessed.

This poster again



Mshewww

I hope it reach those Gala & memory card sellers here in ikeja

What type of business are u starting with 10k?? this people dn crase o, mugu

That's commendable

Is like the word 'boost' has another meaning than the one I know.
Anyways, end time money, end time boosting, end time business

Lai Mohamed is back and better

[s]

Bolustical:
How come?

Something they tagged 'vote-buying' and they claimed it stopped after election

Same way they said nothing was ongoing on the Second Niger Bridge but now they have kept mute, kpam!

God bless PMB. Nigeria must be great.

[/s]

A lot of people are here condemning the 10k as it isn't enough for any business.

I'll tell u this, if you aren't in other people's shoes, u can't feel their pains.

I'll share a little experience here with y'all, this isn't hearsay mind u.

Few months ago, I was approached by a stranger who was weeping and begging that she needed money to start a business and I asked, how much, she said 3 to 5k. Asked what kinda business, she said she wants to be selling bags of pure water. I looked in my wallet and counted 3k for her, the way she wept, prayed and thanked me was so embarrassing. I'd to just rush away from there.

Imagine if she ended up doing the business, 3k might be small but, she could buy approximately 38 bags of pure water to start with.

10k might actually be small, but, a lot have been killed (jungle justice) stealing less.

All those shouting, do toy expect FG to start doling out monies anyhow?

[s]

Bolustical:
okkk

[/s]

Propaganda all the way.

Give the south East what other regions are enjoying.. The likes of Airports, Seaports, good federal roads and many other things
Take your trader Moni to other places where they might need it. Igbos are too successful to depend on that your trader Moni for survival!!!
Allow them to access the world(intl airport) from their own backyard

Rubbish analysis


Useless government

Bloody thieves