Thousands of traders were jubilant as they were provided with the sum of 10,000 naira and 50,000 naira as credit loans to support petty traders, the Vice-president of Nigeria, Yemi Osinbajo took the tradermoni scheme to different markets in Onitsha including the popular Ochanja market.
The credit loan is a scheme from one of the social investment programmes(SIP) of the Buhari-Osinbanjo regime supervised by Bank Of Industry(BOI) called Trader Moni.
The Governor Willie Obiano, hailed the credit loan scheme saying it would encourage the culture of repayment of loans and ensure the prosperity of traders, he also commended the federal government’s zeal towards the ongoing Second Niger Bridge and the completed Zik Mausoleum.
A press release by the Executive director of the Bank of Industry (BoI), Mrs. Toyin Adeniji,, said the launch of the second phase was to sustain the continued efforts to meet the primary objective of “broadening financial inclusion, and increasing access to affordable credit for traders and small business owners.”
She said: “This phase will target at least 2,000 new TraderMoni and MarketMoni beneficiaries. This is in addition to the over 30,000 TraderMoni and 4,000 plus MarketMoni beneficiaries that received the GEEP loans in the first phase, between 2017 and 2018.
“Prior to this official market activation, 200 new MarketMoni beneficiaries had been recorded in the state. The second phase will also target traders for the N15,000 Next Level TraderMoni loans for traders who have repaid the first N10,000 loan.”
The Obi of Onitsha, Igwe Alfred Achebe, suggested that the federal government should set up a Board of Trustees to manage the affairs of the Zik Mausoleum.
Photo credit: Harrison Nwabueze
INLAND TOWN 2019!!!