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https://forms.gle/Q21JQnKuE2vNcsNh9

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https://forms.gle/Q21JQnKuE2vNcsNh9

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The deadline for submissions is February 17th, 2020.

Terms and Conditions apply

This is a welcome development. A very commendable one that will definitely put the economic situation of the country in shape.

GboltNG:
Nigeria’s President, Muhammadu Buhari, on Monday, in Abuja, approved the constitution of an Economic Advisory Council (EAC), Igbere TV reports.

A statement obtained by Igbere TV issued by Buhari’s Spokesman, Femi Adesina, said the council will replace the current Economic Management Team (EMT) and will be reporting directly to the President.

Igbere TV recalls that the now disbanded EMT had Vice President Yemi Osinbajo as chairman, who presides over the weekly meetings and receive reports from it directly. With the latest development, Osinbajo will no longer be in charge but Buhari.

“The Economic Advisory Council (EAC) will advise the President on economic policy matters, including fiscal analysis, economic growth and a range of internal and global economic issues working with the relevant cabinet members and heads of monetary and fiscal agencies.

“The EAC will have monthly technical sessions as well as scheduled quarterly meetings with the President. The Chairman may, however, request for unscheduled meetings if the need arises”, the statement issued by Adesina added.

The statement listed the following names as members of the newly constituted Council:

1. Prof. Doyin Salami – Chairman

2. Dr. Mohammed Sagagi – Vice-Chairman

3. Prof. Ode Ojowu – Member

4. Dr. Shehu Yahaya – Member

5. Dr. Iyabo Masha – Member

6. Prof. Chukwuma Soludo – Member

7. Mr. Bismark Rewane – Member

8. Dr. Mohammed Adaya Salisu – Secretary (Senior Special Assistant to the President, Development Policy)

http://igberetvnews.com/997217/soludo-others-get-new-appointment-buhari-constitutes-economic-team/

HEVP Yemi Osinbanjo’s GEEP Programme Awarded in Malabo, Equatorial Guinea for Financial Inclusion

The FG’s enterprise empowerment and financial inclusion programme GEEP (Government Enterprise empowerment programme), has been awarded as the most impactful financial inclusion programme in Africa. The award was given to the executing body, Bank of Industry at the African Bankers Awards, which was hosted by African Banker magazine in conjunction with Business in Africa Events and held during the Annual Meetings of the African Development Bank (AfDB) in Malabo, Equatorial Guinea.

According to the award documentation, the African Banker’s Award for financial inclusion is for the organization, product or program that has best succeeded in delivering financial products and services to wider parts of society, particularly to the most disadvantaged and low-income segments, ultimately contributing to financial inclusion, development, and growth.

The Government Enterprise Empowerment Programme (GEEP) which was launched as a product of the Social Investment Programme (SIP) has benefitted over 2 million local entrepreneurs across the 3 GEEP projects: MarketMoni, FarmerMoni, and TraderMoni; this makes it the largest government-led microcredit program globally. These 3 programs empower micro-enterprises with interest-free and collateral-free loans to grow their businesses.

MarketMoni targets small businesses with soft loans from N50,000 to N100,000 while FarmerMoni targets local smallholder farmers with loans starting at N250,000 and a buy-off guarantee on there produce. TraderMoni having the widest reach due to the target demography has given loans starting at N10,000 to over 1.8 million beneficiaries.

The awards event featured financial institutions and projects from all 54 countries in Africa, as well as the international community. Other award categories and winners at the event include: Investment Bank of the Year (ABSA Capital), Best Retail Bank in Africa (Ecobank ETI), Innovation in Banking (KCB – Kenya), Regional Bank of the year (East Africa – KCB, Kenya; West Africa – Orabank; North Africa – Banque de l’Habitat (Tunisia); Southern Africa – Mauritius Commercial Bank; Central Africa – BGFI, Gabon), Central Bank Governor of the Year (Tarek Amer, Central Bank Governor– Egypt) among others.

Of the over 2 million beneficiaries of the GEEP, the vast majority of these micro-enterprises are petty traders, merchants, enterprising youth, and agricultural workers in over 1600 clusters and markets across all 36 states of Nigeria, and the federal capital. These traders and artisans are financially marginalized, having no access to corporate financial services like a savings account, mobile banking, loan facilities, and the likes. The GEEP, especially the TraderMoni programme, is designed to adequately cater for this majority of the nation’s economy by simply using their mobile numbers as simple means to access all the above listed financial facilities.

Apart from easy access to these loans, TraderMoni beneficiaries are given a proper and convenient payback plan. For example, beneficiaries of the first tranche of the loan, which is N10,000, are given a payback plan of N430 weekly for 6 months. This repayment does not necessarily have to be done in a commercial bank. The Bank of Industry has designed repayment vouchers sold by TraderMoni agents across all markets listed on the programme.

So far, thousands of impact stories have been recorded from with beneficiaries narrating how the GEEP has empowered them to expand and sustain their businesses while significantly increasing their incomes.

The TraderMoni and MarketMoni programme further progressed today with the activation and enumeration taking place in Anambra state. Vice President Yemi Osinbajo was accompanied by the Executive Director of Bank of Industry, Mrs Toyin Adeniji and COO, GEEP, Mr Uzoma Nwagba to the Eke-Awka market in the state capital Awka and Ochanja market in Onitsha.
The GEEP 2.0 resumed fully with the activation of beneficiaries for the second tranche of the TraderMoni loan for which disbursement has begun. The N15, 000 loan is being disbursed swiftly to beneficiaries who have repaid the first N10,000 loan using the several easy-to-use repayment plans and channels the Bank of Industry has designed.

The traders expressed utmost gratitude to the Vice President and the Federal Government for such magnanimous investment in their trades, stating that without doubt, what many have called little has moved their businesses forward.

The Vice President Prof. Yemi Osinbajo also applauded the TraderMoni team and the beneficiaries for allowing a seamless execution of the programme. He further made known the ready commitment of the government to cater for the lower class and ensure an economy favourable to all social strata to function in effectively. He stated that the country’s economy is equally dependent on MSMEs as it is on the multinationals, adding that more than half of the nation’s wealth circulates within the Micro, Small and Medium Enterprises.

He urged the traders to cooperate with the enumeration and activation officials. He added that the beneficiaries should also use the next level of loans judiciously to further improve their businesses.

Nigerians have been asking questions on the TraderMoni Scheme and doubted the viability after the 2019 elections but the undying momentum of the TraderMoni programme was further proven by the mass activation and enumeration processes which took place at both the Modern market and Wurukum market, Makurdi, Benue State. The activity which took place on the 18th, 19th and 20th of April 2019 was also proof that the compliance of the first two million beneficiaries to the repayment plan laid down was on the high.

Within these three days, thousands of petty traders and artisans in the state were activated for the next tranche of the interest-free loan which was immediately followed by the disbursement of the N15,000 to these beneficiaries.

https://www.instagram.com/p/Bwo85WwlMEv/

With the high repayment rate recorded and the increase in the number of beneficiaries who have received the next N15,000, even post general elections, TraderMoni has in itself cleared the claims of it being a political tool. Also, the success and sustainability of the programme is clear to all as close to two million petty traders and artisans have had their businesses improved by this microcredit facility.

To make repayment easier and faster, The Bank of Industry has designed convenient means for repayment of the loans. Apart from the ability to repay these loans in almost every commercial bank, the BOI recently launched the repayment scratch card which brings the beneficiaries just a dial away from repaying their loans.

At the enumeration and activation stage, an easy weekly repayment plan was drawn at N430 per week to last for 6 months. To make this more achievable, the repayment vouchers are made available at denominations of N430. Many of these beneficiaries have stuck to this plan while a significant number have also opted for the one of repayment at commercial banks.

The Government Enterprise Empowerment Scheme (GEEP) has, without doubt, made a nationwide impact among the active economy players at the bottom of the financial pyramid.

PRESS RELEASE BY APC PRESIDENTIAL CAMPAIGN COUNCIL:

WE CALL FOR THE IMMEDIATE ARREST OF ALHAJI BUBA GALADIMA AS PDP AND ATIKU'S CAMPAIGN PERFECT PLANS TO RELEASE FAKE PRESIDENTIAL RESULTS AHEAD OF INEC; PLANS TO MOBILISE HOODLUMS FOR CHOREOGRAPHED PROTESTS

Devastated by authentic results filtering out of polling units nationwide, our usual sources within the camp of the PDP have informed us that an emergency meeting of the main opposition party has been summoned for today somewhere in Abuja.

Top on the agenda of the PDP is to activate the last strand of their Dubai strategies that have since collapsed like a pack of cards: they plan to release fake results of the Presidential Election later today or early Monday morning that they claim to have compiled themselves.

Our information is that they aim to create crises and confusion that will lead to Alhaji Atiku Abubakar claiming victory in a day or two from today ahead of the official announcement of the results by INEC. Then, what would follow will be some carefully choreographed protests by pockets of hoodlums in some parts of the country. The ultimate aim is to curry the sympathy of our foreign friends and push us to the Venezuela situation.

Our call is therefore to INEC, NIGERIA BROADCASTING COMMISSION and all law-enforcement agencies to continually warn the PDP and all their surrogates like the amorphous CUPP and their likes that anyone who flouts the law on announcement of official results will be made to face the law. Opposition does not confer immunity on anyone to flout the law.

In preparation for this reckless move, some PDP social media agents are already flying some kites on-line as to the number of States allegedly 'won' by PDP. In fact, Alhaji Buba Galadima, an official spokesperson for Alhaji Atiku Abubakar has made a short video announcing PDP as the 'winner' of the Presidential Election. As an official spokesperson, he is clearly acting on behalf of Alhaji Atiku Abubakar and on his instruction. We, therefore call for the immediate arrest, interrogation and prosecution of Alhaji Buba Galadima in this regard. The world is watching and waiting on Alhaji Atiku Abubakar to say something on the video by Alhaji Buba Galadima.

Consequently, we urge all well-meaning Nigerians, the International Community and even reasonable members of the Opposition not to be bought by these cheap antics of the PDP. Let's restrain our wards from being used by these unscrupulous elements. Nigeria will continue to exist after this election.

Over the years, the PDP had been declared 'winner' of Presidential elections under controversial circumstances. On those occasions, President Muhammadu Buhari never took laws into his hands and declared himself President. He also never declared parallel results. He availed himself of constitutional means to address his grievance by approaching the law courts.

Their latest devilish plot against the country is a clear indication that their apology to the Nigerian people was just a hoax. They have learnt nothing and they have forgotten nothing as they just cannot win any election fair and square.

Thank you.


FESTUS KEYAMO, SAN, FCIArb (UK)
Director of Strategic Communications, APC Presidential Campaign Council (Official Spokesperson)

Vice President Yemi Osinbajo had a landslide victory in his hometown in the presidential election carried out on the 23rd of February. The well-loved Vice President had an easy run as the ruling party, APC won by large numbers in the district. Below are the numbers from the polling Units in Ikenne.

State: Ogun
Senatorial District: Ogun East
L G A : IKENNE
Ward: 2
Polling Unit:Allen House
A P C 120
P D P 39


State: Ogun
Senatorial District: Ogun East
L G A : IKENNE
Ward: 2
Polling Unit:C A C
A P C 173
P D P 42


State: Ogun
Senatorial District: Ogun East
L G A : IKENNE
Ward: 2
Polling Unit:Isokan
A P C 155
P D P 33

We have representatives around PUs

Drabeey:
source?

*NIGER STATE*



*Madallah kyau (006), Suleja LGA, Bagama 'a' ward.*
*Number of accredited voters =107*
*Presidential votes: APC - 67, PDP - 45*


*BAGAMA A (006)*
*Presidential votes - APC - 67, PDP - 33*



*SULEJA LGA, HASHIMI A WARD*
*Garki out gate (009)*
APC - 215, PDP - 53



*TUNAKI A UNIT, KONTAGORA*
*APC - 221, PDP - 7*


osun state

Ward 10, Unit 10 in Irepodun Local Government

Presidential
APC 053
PDP 019

Olorunda ward 11 unit 03.illie.

President
Apc-81
Pdp-51


Osun (Boripe LG)
Ward 5 unit 7
Presidential
APC 69
PDP 52

Atakumosa West
Ward 9 unit 6
Presidential
APC 68
PDP 18


Atakumosa West
Ward 10 unit 3
Presidential
APC 82
PDP 9



Borno: Gubio Local Government
1. Dabira Ward.
Pres - APC-197 PDP-38
Sen APC-178 PDP-67
Reps APC-181 PDP-52

2. Felo Ward.
Pres - APC-330 PDP-61
Sen APC-296 PDP-102
Reps APC-294 PDP-95

Lagos Igbaja ward:
PU 13:
APC
Presidential- 67
Senate- 67
HOR- 67

PDP
presidential- 15
Senate- 15
HOR-15

Presidential Abk North
Ward 11 boot 15
Apc- 119
Pdp - 53

GOMBE STATE, Gombe L.G.A, Nasarawo Ward, polling unit 005:
APC has 362
PDP has 17


Kwara State.

Igbaja ward:
PU 13:
APC
Presidential- 67
Senate- 67
HOR- 67

PDP
presidential- 15
Senate- 15
HOR-15

Vice President Yemi Osinbajo gives final message to Nigerians, Urges Nigerian to Vote for Continuity of Good Governance

The Vice President of the Federal Republic of Nigeria, Prof Yemi Osinbajo took out time to encourage Nigerians to come out in their large numbers to vote for the continuity of the current administration. According to him, the administration has done a rigorous and progressing work in rebuilding Nigeria from the ruins of the previous administrations.

Though tedious, huge work has been done in providing fundamental infrastructures on which the nation’s economy can be solidly built. The enormous investment in effective rail system, building and repair of major commercial roads and the activation of several ports around the country is highly commendable.



https://www.youtube.com/watch?v=bG9bb6L38w8

There has been an undeniable improvement in terms of electric power supply in recent times. The power sector was one troubling one for every Nigerian. In the 20 years of democracy, no government has had so much investment in the power sector like the current administration. This is clearly seen in the figures below.

https://www.ceicdata.com/datapage/charts/ipc_nigeria_electricity-production?type=area&period=10y&lang=en

A shocking release, confirmed by the Presidential candidate of the People’s Democratic Party shows that Ex-Presidents Obasanjo, Yar’Adua and Jonathan collectively raised a whopping N2.74 trillion for the power sector, all of which went down the drain.
Atiku Abubakar, who was a Vice President under the longest-serving President of these previous administrations confirmed how the PDP has wasted huge fortune meant for fixing the power sector.
According to the present Minister of Power, Housing and Works, Mr. Babatunde Fashola, for 10 years, the governance of PDP left 100 containers of materials meant for the upgrade of the sector at the Apapa port. These materials were cleared by the President Buhari administration and have been deployed to boost generation and efficient distribution of electricity.




https://www.youtube.com/watch?v=zQlHKQ1hvks

Claims that President Buhari has Dementia are false!

There are many flying rumours about the health of the President. The latest of these is a claim that President Buhari has dementia, an ailment that causes its victim to experience severe memory disorders and impaired reasoning.
Recent appearances of the President in public clearly show that the claims are just rumours and politically inspired propaganda to discredit him.
The video shows several of such engagements where Mr. President exhibits intellectual soundness and sharp memory reaching back to his youthful days.


https://www.youtube.com/watch?v=I2dmcXfLWSI

Has President Buhari really fought corruption?


The present administration rode into power on a mantra of “Fight against Corruption”. The accomplishment of this has been huge amidst the massive widespread corruption at the various quarters and arms of public and private service.

The fight at this stage, as stated on many occasions by the Vice President, is a fight against GRAND CORRUPTION. This is to say the fight is to stop headship corruption or corruption spear headed by the ultimate office of the Federation and other executive offices. This is not the same thing as a fight against systemic corruption, which tackles lower level financial crime practices. This is due to the sheer enormity of the corruption rate in Nigeria.

The biggest step taken against this grand corruption is the establishment of a Treasury Single Account, TSA. With this account, effective monitoring is achieved and financial transparency at the federal executive level is eventually realized.
Several other successful anti-corruption expenditures have been embarked upon. A few of them are listed below:

Loots Recovery and Blocking of Leakages under President Buhari’s Administration
• Recovery and final forfeiture of N32bn and $5m recovered from the former Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke.
• Recovery and final forfeiture of N449m discovered at Legico Plaza in Victoria Island, Lagos.
• Final forfeiture of $43m discovered in the Osborne Towers, Ikoyi, Lagos.
• Recovery of over N329bn from petroleum marketers by the commission’s Kano office.
• Withholding tax recovery of over N27.7bn from banks.
• Recovery of over €6.6m from the Nigerian Port Authority.
• Recoveries of about N1.1bn on behalf of AMCON.
• Recovery of subsidy fraud of over N4bn.

Fiscal Reforms
· Whistle Blowing Policy which has exposed over 20BN, US$378million and £27,800 looted funds.
· The National Economic Council (NEC), under the Chairmanship of Vice President Yemi Osinbajo, approved the audit of key federal revenue generating agencies. This revealed that a sum of N526 billion and US$21 billion was underpaid to the Federation Account between 2010 and 2015.
· By addressing the issue of poor remittance, JAMB went on to remit N7.8 billion in 2017 from remitting only N51 million between 2010 and 2016.
· Through the activities of Presidential Initiative of Continuous Audit, 54,000 fraudulent payroll entries have been identified, with payroll savings of N200 billion.
· The controversial Offshore Processing Arrangement (OPA) has been cancelled and replaced with a ‘Direct Sales and Direct Purchase (DSDP)’ scheme with reputable offshore refineries.

Top Crime Cases and Prosecutions
· In the three years, EFCC has secured 703 convictions. The breakdown is as follows: 103 convictions in 2015, 194 convictions in 2016; 189 in 2017 and 217 from January 2018 till date.
· Conviction of ex APC governors and sentence to jail, the first of such conviction in the history of Nigerian democracy.



WATCH VIDEO: FIGHT AGAINST GRAND CORRUPTION


https://www.youtube.com/watch?v=R-1bnzDwXlM&t=2s

TraderMoni beneficiaries debunk claims that PVCs were required from them before they were registered for the loan. TraderMoni was created to empower hardworking petty traders and artisans at the base of the economic pyramid. The Federal Government recognized the need for those at the end level of the commercial chain to be financially equipped as these set of people find it hard to meet the burdensome requirements for securing loans at other micro-credit institutions. Micro businesses make up a significant portion of the economy in Nigeria, having over twelve million petty businesses. These businesses lack adequate running capital, talk less of the ability to increase their inputs and grow the businesses.

Despite the prominent objective of this initiative, there has been misinformation on the use of PVC, giving of free money and other vital information about the on-going TraderMoni are currently spread throughout all media platform. All of these are false claims.

The well-intended Government Enterprise and Empowerment Programme (GEEP); TraderMoni, aimed at boosting micro businesses by giving them interest-free and progressive loans from N10,000 to N100,000 upon repayment, do not require any PVC or electoral document as a prerequisite for registration. The essential conditions to be eligible for the loan is to be a petty trader or artisan in Nigeria. The applicants just need to provide their names and phone numbers to be remunerated.

Some beneficiaries who were contacted affirmed that the TraderMoni agents in charge of registration and disbursement of the loan only requested their names and phone numbers. Also contacted was Dr. Alade Adebiyi, the General Secretary of Oyingbo market, Lagos state present at their market activation. He also confirmed that No PVC was required to acquire the TraderMoni loan.

Hence, It is vital to know that PVC is not a criterion for TraderMoni. All information as to regards the use of any personal electoral document or forms are to be disregarded and considered null and void.

Watch Video Below for more information.


https://www.youtube.com/watch?v=wkjW8eHyT10

DESPERATE PLANS BY PDP TO LAUNCH A SERIES OF CAREFULLY CHOREOGRAPHED FAKE NEWS EVERY SINGLE DAY TILL VOTING DAY.

In a move reminiscent of how the PDP hired Cambridge Analytica in 2015 to scare voters from voting for President Muhammadu Buhari, we understand the PDP is at it again a few days to the actual voting day. This time, sources within the heart of the operations of the PDP and security sources have informed us of plans already concluded by the PDP and Alhaji Atiku Abubakar’s campaign team to roll out a series of fake news designed again to scare voters from voting for President Muhammadu Buhari. These fake news would consist of doctored videos and audio clips and fake news reports from fake news sites.

Two of such fake news in the series have already been released through their proxies and nameless individuals. The first is an audio clip of a supposed “nurse” of President Muhammadu Buhari telling voters that the President is sick and cannot govern for another four years. We understand that a Nigerian girl whose real name is Sandra and who used a fake British accent did the said recording somewhere in Maitama in a house belonging to a PDP chieftain. Security operatives are already on her trail.

The second fake news released is on the purported death of Leah Sharibu. This is a lie from the pit of hell as the Federal Government’s effort to set her free has reached an advanced stage.

The other fake news lined up for the next few days by the PDP and Atiku’s handlers would consist of similar doctored audios, videos and fake news with no link to credible news sites.

Our advice to the leadership of the PDP is that Nigeria must not burn because of their selfish ambition. Enough damage was done from these kinds of narratives they pushed out in 2015 from which we have not fully recovered till date.

The election will come and go and Nigeria will remain one united, indivisible entity. We are shocked that the panic mode of the PDP has gone into overdrive, prompting them to push out such reckless fake news.

We wish to advise the leadership of the PDP that in order to reduce this type of panic and desperation on their part in 2023 (that is, if they survive as a party), they must find something meaningful to do outside government patronage after they lose the 2019 election. This type of attitude is borne out of hanging around, idle and waiting endlessly for election cycles to try to get back to power to plunder our national resources. The bad news for them is that from feelers we are having on the ground, Nigerians are not yet prepared to forgive them for their 16 years of misrule, mismanagement and outright stealing of our national resources.

Nigerians should, therefore, be on the alert regarding these series of fake news in the next few days.

Thank you.


FESTUS KEYAMO, SAN, FCIArb (UK)
Director, Strategic Communications,
APC Presidential Campaign Council
(Official Spokesperson).

Banks in Nigeria and Airtel have partnered the Federal government’s TraderMoni scheme in order to broaden financial inclusion.

In one of the recent TraderMoni events at Bocolis IDP camp in Borno, Airtel provided free sim cards to all TraderMoni beneficiaries, whilst free phones were given to the beneficiaries. Our sources gather that the phones were part of the 40,000 phones donated by the Bankers’ Committee to the TraderMoni program.

Our sources at the Bank of Industry reveal that the TraderMoni scheme was taken to the camp to empower petty traders and artisans that lost all their livelihood to the Boko Haram crisis but who are trying to fend for themselves via small trades.

Since the beginning of the Boko Haram crisis in the North Eastern part of Nigeria, thousands have been affected, with many Internally Displaced Persons (IDPs) forced to live temporarily at camps across the country.

Displaced from their homes & disconnected from their daily jobs, many Internally Displaced Persons are stuck at the bottom of the economic ladder and remain part of extremely poor Nigerians.

In 2016, the Government Enterprise and Empowerment Programme (GEEP) was initiated by the Federal Government with the knowledge that millions of Nigerians at the base of the economic pyramid lack access to credit facilities.

Some of these Nigerians are at IDP camps, displaced from their daily sources of income and uncertain about their future. However, with the TraderMoni ten thousand Naira loans, Government hopes that they can boost their trades and pick up their lives again.

At the camps, TraderMoni enumerators are said to have met with thousands of IDPs, educated them about the TraderMoni scheme, taken their KYC details, and to have given them the N10,000 TraderMoni loans.

It is good to empower IDPs, we hope they pay back the loans in time; so it can keep going round.

A survey conducted by Liedholm and Mead in 2005 across several African countries, estimates that between 17 and 27 percent of the continent’s labor force was employed in Micro, Small and Medium Enterprises (MSMEs). This figure is near twice the employment of large-scale enterprises and public sector, which means that MSMEs create twice as many jobs as Large-scale enterprises. The United States Agency for International Development (USAID) considers that MSMEs employ a third or more of the labor force in low-income countries (USAID, 2010).
MSMEs represent about 90% of the manufacturing/ industrial sector in terms of the number of enterprises yet they contribute an abysmal 1% of GDP in Nigeria compared to 40% in Asian countries and 50% in the US or Europe. Studies by the International Finance Corporation, IFC show that approximately 96 percent of Nigerian businesses are MSMEs compared to 53% in the US and 65% in Europe.

Nigeria has over 77 million MSMEs today, employing over 60 million people and contributing about 85% of the total labor force in the country. In fast improving economies in Africa like Nigeria, Morocco and Kenya, over 70% of MSMEs get their initial capital from loans gotten from Micro Finance Institutions and Banks. Nonetheless, 65% of the initial 30% that get their loans from banks will prefer to get subsequent loans from MFIs for two reasons. Firstly, commercial banks have alarming interest rates on loans. For example, in Nigeria, there is a 14% interest on Bank loans and 13.25% in Kenya.

Another effect of this difficulty in getting favorable loan rates from commercial banks is that medium and small-scale enterprises have saturated the microfinance services. This makes it close to impossible for micro enterprises to access any loan from the MFBs. A business valued at N100,000 is not likely to access any valuable financial support from either a commercial bank or microfinance house. Microenterprises are not attractive to these traditional lenders. Therefore, many of them remain in a cycle of poverty. With minimal business input, a profit barely enough to survive on is inevitable.

The Federal Government of Nigeria is on a mission to break this poverty cycle with a Social Intervention Programme called TraderMoni. Trader Moni is a financial intervention programme targeted at micro traders and artisans. The scheme, which is under the Government Enterprise and Empowerment Programme (GEEP) is structured to offer progressive and interest-free microloans between N10,000 and N100,000 to two million petty traders and financially excluded Nigerians. The objective of TraderMoni is to lift two million beneficiaries at the base of the economic pyramid above the poverty line.

As MSMEs expand, they require long-term credit in ever-increasing amounts to upturn their working capital and profit margins. With FG’s Trader Moni effectively filling the void and making these financial support services available to demography that consists of a majority of the country’s labor force, Nigeria’s economy is technically set for a spike in figures and standard of living for millions of the nation’s citizens.

The Vice President of the Federal Republic of Nigeria was present at the Ipatta market, Kwara State on the 7th of December to inspect the progress of the TraderMoni. Despite being heavily criticized by the political stronghold of the state, Sen Bukola Saraki, Prof Osinbajo showed that the TraderMoni initiative is a transparent non-partisan and non-sectorial program. TraderMoni is designed to empower two million traders across the Federation, irrespective of the party ruling the state.

The Vice President has openly declared that there is a gangup of elites against the President Mohammadu Buhari led administration. In a statement he made at an event earlier this week, "There is a gangup against Pesident Buhari. The elites are ganging up and they have representatives everywhere..in politics, business, religion..."

He stated that anyone castigating an initiative like TraderMoni that targets the poor masses is evil. According to him, TraderMoni is a part of the Social Investment Programme, a key project of the administration.

Watch video here https://twitter.com/Jessilicious419/status/1070629428223492096?s=08[/url]

The VP has been to Maiduguri more than 3 times in the last few months. He is a true leader.

Abfinest007:
mr vp osinbajo pls can u take ur door
to door campaign to maduguri to
show how serious u are

In light of the forthcoming election, the Vice-president Prof. Osinbajo has begun a door-to-door campaign in Abuja on Tuesday visiting Karu and Nyanya respectively.
This movement reveals more than a campaign strategy but also shows how participatory the government has been. Contrary to other governments who have consistently spoken without acting, this administration has set a course of action to their pledges.
In the words of the amiable Vice President, "We (the government) have to create more jobs for all these young people, we have to give our market women credit so that they can do more business".
The current administration at the federal level has paid keen attention to the welfare of the average Nigerian and the economy at the base of the financial pyramid. Initiatives such as the Homegrown School Feeding Programme, N-power, Market Moni and TraderMoni. These initiatives have brought social impact and financial stability to over 10million homes in the country. They have helped regain a structure for an operating and functional economy. Professor Osinbajo identifies the importance of feedbacks as the administration prepares to advance these projects ahead of a new tenure. In this way, he is well aware of when what and where shortcomings arise and improvise to that effect.
Likewise, a women campaign group which started in Minna, Niger back in August has been activated in other 36 states. The group named Noble Women Movement for Buhari / Osinbajo Support group mobilized 274,000 women across the state at the start of the campaign. Coordinator of the group in the state Hajia Zaynab Abubakar said similar women groups are also being floated in all the 36 States and the Federal Capital Territory with the same mission of “selling” President Buhari and his Vice, Professor Osinbanjo to the electorate for next year’s election.
The door to door campaign was received warmly by the residents of the aforementioned areas. The campaign was highly interactive and the citizens were assured of the government's commitment to their wellbeing and the nation's progress.

The South-South and South-East edition of the Student Innovation Challenge is set to hold at the University of Nigeria main auditorium, Nusukka on the 23rd of November this year. The event which is the last of the regional editions will see 30 student entrepreneurs and innovators pitch their ideas to a panel of judges comprising of industry experts, innovators and entrepreneurs. Each of these pitchers stands a chance of emerging as one of the 50 finalists that will receive one million naira in seed funding alongside other business and legal advisory services.

Student Innovation Challenge is hosted by Civic Innovation Lab, organized by the Presidency and sponsored by the Bank of Industry (BOI). The Student Innovation Challenge aims at bringing some of Nigeria’s sharpest undergraduate minds together in a room, to discover how they can contribute to social reform by presenting technology-infused ideas that can solve some of the Nation’s toughest challenges. The program has primary objectives of nurturing and encouraging social innovations in technology geared towards growth, sustainability and finding solutions to problems within our environment.

Earlier this year, the two regional finals covering South-Western and Northern regions held in Lagos and Kano respectively. With technology being the primary driver of these ideas, the solutions were viable and timely for the industrial age the world is currently in. In total, over 3000 applications were received from 244 universities and polytechnics across Nigeria.

The maiden edition of the Student Innovation challenge took place at the University of Lagos on the 22nd of June 2018. At the event which covered the South-Western region of Nigeria, 48 start-ups out of 789 qualified to pitch innovations across education, agriculture, healthcare, energy, security, law and IT. Among the dignitaries in attendance were the Vice President of the Federal Republic of Nigeria, Prof. Yemi Osinbajo, SAN, Managing Director, Bank of Industry, Mr Kayode Pitan, MD Access Bank, Herbert Wigwe, Executive Secretary, MTN Foundation- Nonny Ugboma, Special Adviser on Economic Issues, Dr Adeyemi Depeolu, SSAP Trade and Investment, Jumoke Oduwole, and Vice Chancellor- University of Lagos- Professor Toyin Ogundipe. The event brought together over 2000 students from across 15 universities in the South-West.

The Northern Regional finals of the Student Innovation Challenge (SIC) took place on the 4th of September 2018 at the Aliko Dangote Business School Auditorium, Bayero University, Kano State. It was a fantastic time watching and appreciating the numerous possibilities embedded in students in Nigerian Universities. Out of over 600 applications from the entire Northern region, 52 teams qualified to pitch at the event in front of an audience of over 1000, excluding the overflow. The Vice President of Nigeria, Prof Yemi Osinbajo was again in attendance alongside the state Governor of Kano, Abdullahi Umar Ganduje and the Vice Chancellor of the host school, Professor Yahuza Bello, DG NITDA, Dr Isa Ali Ibrahim Pantami, Group Managing Director, Dangote Industries, Engr Mansur Ahmad, MD/CEO NDIC, Alhaji Umaru Ibrahim and the Executive Vice Chairman NCC, Professor Umar Garba Danbatta.

The online registration window to attend the event in Enugu is open. Interested persons can register with /SICEnugu or visit www.sic.ng for more information.

The South-South and South-East edition of the Student Innovation Challenge is set to hold at the University of Nigeria main auditorium, Nusukka on the 23rd of November this year. The event which is the last of the regional editions will see 30 student entrepreneurs and innovators pitch their ideas to a panel of judges comprising of industry experts, innovators and entrepreneurs. Each of these pitchers stands a chance of emerging as one of the 50 finalists that will receive one million naira in seed funding alongside other business and legal advisory services.

Student Innovation Challenge is hosted by Civic Innovation Lab, organized by the Presidency and sponsored by the Bank of Industry (BOI). The Student Innovation Challenge aims at bringing some of Nigeria’s sharpest undergraduate minds together in a room, to discover how they can contribute to social reform by presenting technology-infused ideas that can solve some of the Nation’s toughest challenges. The program has primary objectives of nurturing and encouraging social innovations in technology geared towards growth, sustainability and finding solutions to problems within our environment.

Earlier this year, the two regional finals covering South-Western and Northern regions held in Lagos and Kano respectively. With technology being the primary driver of these ideas, the solutions were viable and timely for the industrial age the world is currently in. In total, over 3000 applications were received from 244 universities and polytechnics across Nigeria.

The maiden edition of the Student Innovation challenge took place at the University of Lagos on the 22nd of June 2018. At the event which covered the South-Western region of Nigeria, 48 start-ups out of 789 qualified to pitch innovations across education, agriculture, healthcare, energy, security, law and IT. Among the dignitaries in attendance were the Vice President of the Federal Republic of Nigeria, Prof. Yemi Osinbajo, SAN, Managing Director, Bank of Industry, Mr Kayode Pitan, MD Access Bank, Herbert Wigwe, Executive Secretary, MTN Foundation- Nonny Ugboma, Special Adviser on Economic Issues, Dr Adeyemi Depeolu, SSAP Trade and Investment, Jumoke Oduwole, and Vice Chancellor- University of Lagos- Professor Toyin Ogundipe. The event brought together over 2000 students from across 15 universities in the South-West.

The Northern Regional finals of the Student Innovation Challenge (SIC) took place on the 4th of September 2018 at the Aliko Dangote Business School Auditorium, Bayero University, Kano State. It was a fantastic time watching and appreciating the numerous possibilities embedded in students in Nigerian Universities. Out of over 600 applications from the entire Northern region, 52 teams qualified to pitch at the event in front of an audience of over 1000, excluding the overflow. The Vice President of Nigeria, Prof Yemi Osinbajo was again in attendance alongside the state Governor of Kano, Abdullahi Umar Ganduje and the Vice Chancellor of the host school, Professor Yahuza Bello, DG NITDA, Dr Isa Ali Ibrahim Pantami, Group Managing Director, Dangote Industries, Engr Mansur Ahmad, MD/CEO NDIC, Alhaji Umaru Ibrahim and the Executive Vice Chairman NCC, Professor Umar Garba Danbatta.

The online registration window to attend the event in Enugu is open. Interested persons can register with /SICEnugu or visit www.sic.ng for more information.

The Federal Government Trader Moni influence further increased her reach to cover 3 more states over the weekend. The Trader Moni team carried out activation processes in Plateau, Yobe and Bayelsa states. Over fifteen thousand petty traders and artisans were empowered with the interest-free microcredit loan in each of the states.
In Plateau state, the activation process took place at the Terminus market located in the city capital. The enumeration and capturing processes were seamless and swift. Thousands of petty traders and artisans came out to express their interest in the excellent initiative set up by the Federal Government.
The Main Market, Damaturu was the activation center in Yobe state. The petty traders and artisans trooped out in their numbers to benefit from the Federal Government microenterprise empowerment programme. The traders were sensitized on the goal of the government in making the collateral and interest-free loans available to the poorest traders at the base of the financial pyramid. Enumeration and capturing was then properly coordinated for the beneficiaries in their tens of thousands.
These activation and sensitization processes were carried out at the Tombia market, Yenogoa, Bayelsa State.
Unlike the Government Enterprise and Empowerment Programme (GEEP) Market Moni loan scheme, which targets market women, traders, and enterprising youths, the Trader Moni is a micro-credit scheme to cater for ultra-micro enterprises.
According to the Executive Director, Bank of Industry, Toyin Adeniji, the programme which is activated nationwide will support 2 million Nigerians to grow their business by having access to a loan in Nigeria irrespective of the status or level of education.
“The goal of the scheme is to take financial inclusion and empowerment down to the grass root whereby pure water seller, bread seller, food seller, okada rider among others can access loan without collateral in Nigeria to expand their business” she stated at the Trader Moni launch in Lagos.
At the initial stage of the Trader Moni loan, traders and artisans have access to N10, 000 and pay back N10, 250 to qualify for N15, 000. After the beneficiary pays back N15, 375, such a person automatically qualifies for a N20, 000 loan to pay back 21,000 and by that, qualify for a N50, 000 loan. All these stages have a duration of six months interval to pay back.
For more information on Trader Moni, visit www.tradermoni.ng.

Vice President Yemi Osinbajo, on Saturday 22nd September officially launched the Federal Government Trader Moni scheme in Imo state capital, Owerri. The launch which was done in the company of the executive Governor of the state, Governor Rochas Okorocha took place at the relief market Owerri.

The fast-moving Trader Moni train which was initially launched in Mushin market, Lagos on the 7th of August has now covered 16 states of the country. These states are Lagos, Kano, Abia, Akwa Ibom, Osun, Katsina, Abuja, Kogi, Ondo, Calabar, Oyo, Ogun, Kaduna, Benin, Anambra, Delta, Zamfara and Imo.

The micro-credit scheme under the Government Enterprise and Empowerment Programme (GEEP) offers micro traders and artisans a progressive loan with a base loan of N10,000 eventually rising up to N100,000 after successive repayments. These loans are collateral and interest-free not necessarily requiring that the beneficiaries have a commercial bank account.

However, traders are required to have commercial bank accounts as a criterion for the next level of loan. This makes Trader Moni a tool for poverty elevation, economic advancement, and higher financial inclusion.

The FG Trader Moni has since recorded numerous stories of hopes revived among the beneficiaries. Petty traders have praised the current administration for the initiative stating that this is the first administrative to remember micro trader. The FG under the President Buhari administration has also moved initiatives like the Market Moni targeted at Small and Medium Enterprises.
The Trader Moni scheme has a plan to empower two million beneficiaries across the 36 states of the federation before the end of 2018.

Vice President Yemi Osinbajo, on Saturday 22nd September officially launched the Federal Government Trader Moni scheme in Imo state capital, Owerri. The launch which was done in the company of the executive Governor of the state, Governor Rochas Okorocha took place at the relief market Owerri.

The fast-moving Trader Moni train which was initially launched in Mushin market, Lagos on the 7th of August has now covered 16 states of the country. These states are Lagos, Kano, Abia, Akwa Ibom, Osun, Katsina, Abuja, Kogi, Ondo, Calabar, Oyo, Ogun, Kaduna, Benin, Anambra, Delta, Zamfara and Imo.

The micro-credit scheme under the Government Enterprise and Empowerment Programme (GEEP) offers micro traders and artisans a progressive loan with a base loan of N10,000 eventually rising up to N100,000 after successive repayments. These loans are collateral and interest-free not necessarily requiring that the beneficiaries have a commercial bank account.

However, traders are required to have commercial bank accounts as a criterion for the next level of loan. This makes Trader Moni a tool for poverty elevation, economic advancement, and higher financial inclusion.

The FG Trader Moni has since recorded numerous stories of hopes revived among the beneficiaries. Petty traders have praised the current administration for the initiative stating that this is the first administrative to remember micro trader. The FG under the President Buhari administration has also moved initiatives like the Market Moni targeted at Small and Medium Enterprises.
The Trader Moni scheme has a plan to empower two million beneficiaries across the 36 states of the federation before the end of 2018.

The Federal Government Trader Moni scheme has been received with several mixed feelings, as it is with every government policy or program implemented. Some are quite positive that the scheme will doubtlessly reduce poverty at the very low level of the economic pyramid. While some believe in the value in the program, they are in doubt of the ability for it to fulfill what is on paper.
“I have no doubt that it is a positive one from the government but just like our culture is, implementation and maintenance is the challenge”, a friend said. This is understandable but you will agree with me that not taking a positive step because of the uncertainties is not a right attitude to life. Failure of fear is never an excuse not to execute a plan that has been thought out properly.
This article is not to address any of the two classes above. This post is to address the third category of people – those who believe 10,000 naira is too small to significantly make any change in anybody’s life. These people believe the entire scheme is a ploy for vote selling. My experiences with Umar and Musa should be able to make such people rethink their disposition.

Meeting Umar
One of such petty traders was 34-year-old Umar, a native of Borno state. Umar sells leather bags or Nylon in the market. In a bid to make the best sales, Umar adopted the nomadic or hawking style of selling. This tells a lot on his health as he suffers severe body and leg pains after work. However, with a wife and 4 children Umar has no choice but to go through this stress every day to make a little over 1000 naira to make ends meet.
“My pikin dey primary school for Masaka…..four pikin. My wife dey sell for Masaka….small pepper, tomato”
Do people still think 10,000 Trader Moni Loan is too small to make any change?
While many financially comfortable citizens feel 10,000 naira cannot improve any life, Umar is excited about the Trader Moni loan. He has permutated several ways the money can better his life, and his family’s.
“If I see alert ko, I fit do table and umbrella. I no go waka round market again. Or I fit give my wife….she go sell coke bah….or recharge card. When I pay back, I fit collect 15 thousand buy my umbrella and table. I no go dey buy magani (medicine) for body”
It was touching to see how a loan termed “too small” can have a positive impact on a petty trader, even down to his health.

The Story of Musa
Musa is a native of Katsina Ala who came to the city of Abuja in 2011 in search of better living. Musa, who is married with a year old son, has been able to venture into some form of petty trading. He sells food spices and other ingredients in the busy Nyanya market.
Musa’s desire is to improve his income flow and save for the education of his son in some years to come. “I dey live for karumo with my pikin and wife. The house na one room. The room e too small. I go wan get even if na still one room wey big pass this one. My pikin....I want am make e go school.” these were the words of 31 year old Musa.
However, Musa’s dreams have been far from being a reality considering the little he made from the sales of his goods that occupied just a wheelbarrow. Making between 700 and 1000 naira daily from this trade, he and his family are practically living from hand to mouth. There is no room for saving, business expansion and by extension, improved livelihood.

What Can 10,000 do for Musa?
“All my market na like 11….15 thousand naira. If I get 10,000 now, I fit buy extra market…or I go add new one like spaghetti or recharge card”. Musa expects a significant increase in his income by getting a Trader Moni loan. This increment points to greater hope for his son’s education, an invaluable asset to any nation. His business wish is to
These two new friends I made at the market was enough for me to see value in the Trader Moni scheme. It is amazing to think that Trader Moni is working to bring 2 million of such dreams of better living to reality. Trader Moni is a sub-scheme of the Government Enterprise and Empowerment Programme.

Many Nigerians have wrongly claimed that the TraderMoni train traveling across Nigeria is designed to induce voters ahead of the 2019 election, in some cases, as we saw in Osun, they believe that the scheme was designed to influence the governorship election holding on 22 September.
But a critical look at the scheme shows that all those politicizing the scheme got it wrong. Firstly, TraderMoni is a ‘Federal Government’ empowerment programme to alleviate poverty in Nigeria by empowering traders and artisans. It was conceived in 2016, three years before the general elections in 2019.

Secondly, Permanent Voters Cards (PVCs) are not required to benefit from the scheme. This means it’s immature and poorly thought for anyone to describe it as vote buying. There’s no certainty that the beneficiaries have PVCs or will vote, so how does it translate to vote buying?
“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,” said Laolu Akande, the spokesperson to Vice President Yemi Osinbajo.

Many of these people forget that TraderMoni is a loan. They often think its free money, but you can’t blame them, they are used to freebies from previous administrations.
With this microcredit scheme, petty traders get LOANS that are interest and collateral free but not FREE money. After the loans are repaid, they become eligible to access more loans.
Thirdly, talking of the train stopping by Osun, TraderMoni train has a timeline and that included Osun. The traders had been briefed and they were expectant and that is what government is all about, serving the people.
There are some that are of a different school of thought. They claim N10,000 is too small to start a business but they are totally naïve. For those who watch CNN, perhaps you might have had the chance to see Richard Quest’s advert, it simply says, “It Begins with 'Just a Penny' in CNN's 'Quest Means Business”.

We’ve heard stories of big businessmen and women who started very little and became household names. Take a second and look at hawkers on some of Nigeria’s major roads and you’ll realize that many of them require far less than N10,000, but still, they jump onto the streets and start chasing after cars.
If these hawkers get N10,000 collateral and interest-free loans, they will be off the street and on to better things. With N10,000 you could get a stall and start selling fruits, vegetables, food items, etc.
Here’s an interesting fact about microcredit scheme like TraderMoni. Globally, the Services sector contributes a whopping 75% of the global GDP and overall employment. In other words, the Services sector contributes more to world leading economies than oil and agriculture combined.
In India, microcredit schemes are the most powerful engine of the country’s growth, accounting for the swelling numbers in the Service sector but in Nigeria, it’s seen as a political tool.

TraderMoni has been launched in Kano, Abia, Akwa Ibom, Katsina, Osun, Abuja, FCT, Kogi and Cross River. Hopefully, we will learn not to politicize issues that are of utmost importance to many who need them.