FG lunches second phase of TraderMoni, MarketMoni in Anambra, as Osinbajo visits
The Federal Government of Nigeria has rolled out the second phase of Government Enterprise and Empowerment Programme (GEEP) products aimed at giving assistance to traders across the country and encourage the growth of their businesses
The programme under the tag: TraderMoni and MarketMoni is targeted at traders and SMEs and was introduced in 2017, and powered by the Bank of Industry.
Meanwhile, the Vice President, Prof Yomi Osinbajo visited Anambra on Friday to access the performance of the (GEEP) products, assuring that more people would benefit in the programme.
Accompanied by the Bank of Industry activation team, Prof Osinbajo interacted with some beneficiaries at Eke Awka main market where traders hailed the Federal Government for introducing such ‘ powerful project to assist traders.
Earlier a press release signed by Executive director Micro enterprises, Bank of Industry, Mrs Toyin Adeniji, and made available to Tribune Online in Awka, the Anambra state capital said the programme is to sustain its continued efforts to meet the primary objective of “broadening financial inclusion, and increasing access to affordable credit for traders and small business owners.
“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 have 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”.
While commending the Muhammadu Buhari led administration for his efforts at addressing poverty and hard times in the country, Mrs Adeniji, assured that government remains committed to lifting more Nigerians out of poverty, adding that the GEEP products will do just that, through new activations of MarketMoni and TraderMoni loans across the country as well as NextLevel payments for beneficiaries who have repaid.
Some of the beneficiaries, Ifeoma Nwakuo who sells onions and OluchukwuUmuade who deals on detergents thanked the Federal Government, saying the scheme will help them greatly in doing their businesses.
Ifeoma Nwakuo said, “My N10,000 cash has given me much encouragement, I will use the money judiciously to lift my market to the next level, help my family and dependants”.
Also speaking, the acting chairman of the All Progressives Congress (APC), in Anambra state chief Basil Ejidike, expressed joy that Anambra traders were well captured in the scheme, compared to Lagos state, saying it would go a long way to encourage traders in their business.
“It is a good programme that flows down to the poor”. And urged recipients to use the fund judiciously.
However, Ngozi Orji from Eboyi complained that she met all the requirement to ensure that she benefited but was not give, saying no reason was given as to why she was not among those that received N10,000 yesterday.