The Federal Government has mapped out N10 billion as Trader Moni loan to petty traders and artisans in the 2020 fiscal year, IgbereTV reports.

The loan is part of the social intervention programmes under President Muhammadu Buhari led administration.

According to IgbereTV reports, N10 billion was allocated to BOI as ‘Grants to BOI to support low interest loan to SMEs’. This was contained in the 2020 Appropriation Bill signed into law on Monday by the President.

The Federal Government, through the Bank of Industry (BOI) provides interest free and collateral free loan to petty traders and artisans, under the Trader Moni micro credit scheme. The loan ranges from N10, 000 to N100,000 per beneficiary.

According to the Trader Moni guidelines, the first loan to an individual is N10,000. Upon payment of the first loan, the individual qualifies for a higher amount. The maximum amount allowed is N100,000.


http://igberetvnews.com/1202218/fg-distribute-n10bn-trader-moni-loan-2020/

Chai these people have looted us dry

Subzero047:
Chai these people have looted us dry

How??

God forbid I raise my kids in this country.


We borrow billions of dollars for infrastructure, and still go ahead to throw money away in the name of "soft loans". Lugard, it shall never be well with you

Mtchew

Who has some more important news pls?

E go reach me?

What type of Loan is 10 thousand in this kind of bad economy... Money that is not enough to feed a family for a week

Audio money.

Election strategy. God punish them. Give youths job give us job give us job. Fulfill your promises.

This 10+ billion loan will turn bad loan that will never ever be recovered. I see ton of loan hanging on the neck of the next coming administration

I see no sense in this

Audio distribute

Sukueponmalu:

How??

DRY

Then this means that there is no penalty for not paying the initial 10,000 loan. The trader would simply lose the chance to borrow more money.

Sureman707:
E go reach me?

Are you a trader?

How will this help me here in Nigeria..

Pls help me ooo, I can't coman die of hunger oooo. I hate being idle.. I need to earn b4 service.

How will this help me get a job now? This country sef, people wan work, no job.. The job wey dey are reserved for people dt doesn't need it, more like they are forced to work.

I need a job Pls, Lagos... Diploma in banking and finance... A degree too... Yet to serve.. Pls.... Pls Pls computer literate, excellent and fast in typing, experienced as an intern in a bank.

Pls quote me if any or pm me.

Alooter continua

Trader Moni or mean to embezzle our common wealth. I wonder what's going on in the mind of these cabal with the kind of unreasonable programs they are pushing back forward just for selfish agenda. We shall see it to the end.

I will not post what's on my mind.

God, why nao! My coming to this world was never a mistake, but coming to Nigeria..............Na who do me this Kain thing.

Audio money, oh no! Rude!!!!

Next level scam...

fgn.yahoo.com

Another strategy to embezzle our hard earned money......

Ajoor nan ni

How do you give out a loan of 10,000 Naira ? What sort of business will one start or sustain with such minuscule amount? And a higher percentage of the benefactor will default so why throw away money? Is this not vote buying in disguise ?

Finally our vice president is back to work


He has been totally useless since after d election

buhari second wife don chop better next year

DenreleDave:
How will this help me here in Nigeria..

Pls help me ooo, I can't coman die of hunger oooo. I hate being idle.. I need to earn b4 service.

How will this help me get a job now? This country sef, people wan work, no job.. The job wey dey are reserved for people dt doesn't need it, more like they are forced to work.

I need a job Pls, Lagos... Diploma in banking and finance... A degree too... Yet to serve.. Pls.... Pls Pls computer literate, excellent and fast in typing, experienced as an intern in a bank.

Pls quote me if any or pm me.

Diploma in banking and you are asking how microloans would help the nation?

magilou:
Then this means that there is no penalty for not paying the initial 10,000 loan. The trader would simply lose the chance to borrow more money.

They were not able to account for the last one, now this.

N10B gang! FG!