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TraderMoni – All You Need to know & How you can Benefit

TraderMoni - List of States it has been Launched
TraderMoni - List of States it has been Launched

What is TraderMoni?

TraderMoniA programme launched last Tuesday in five markets in Lagos state recording thousands of beneficiaries already. TraderMoni 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 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).

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Requirements for the MarketMoni/TraderMoni 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 us registered with the service providers

How to Register for the 2018/2019 federal government scheme TraderMoni

  • Go to our website: https://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.

NO CLOSING DATE STATED YET

Speaking at the formal launch of TraderMoni at the Owerri Relief Market, Imo State, at the weekend, Vice President, Yemi Osinbajo, said that TraderMoni is a deliberate policy of the Federal Government to assist small scale businesses in the country to grow as well as to reduce poverty among the people.

The United Kingdom Prime Minister, Theresa May, had last month during a three-day trip to Africa, said Nigeria is home to more poor people than any other nation in the world.

“The TraderMoni, which provides loans of N10,000 to registered beneficiaries is part of the deliberate policy of the Federal Government to assist micro businesses to grow and to reduce the poverty level especially among the people in the rural areas by giving them access to funds to help their businesses,” he said.

Osinbajo also said that the  APC-led Federal Government  would continue to ensure that the welfare of Nigerians would continue to be its major priority and urged the people to continue to support efforts of government to make the country a better place for all.

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The Presidency also promised that before the end of 2018, TraderMoni will reach the 36 States of the Federation.

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