SOKOTO State petty traders were full of praises and appreciation to the federal government upon receiving bank payment alert for Tradermoni in the State.
The beneficiaries trooped out in their large numbers at the launch of the Government Enterprise and Empowerment Programme, GEEP, which took place at Sokoto Central Market as well as Sokoto Old Market.
The scheme aims to take financial inclusion to the grassroots so that petty trader can access collateral free credit facility to expand their businesses.
Beneficiaries, however, have six months to repay with flexible options of N85 daily or N430 weekly.
Most of the of the beneficiaries could not hide their feelings as they explain how the loan facility would boost their businesses.
Malam Ismaila Shuni, a beneficiary who resides in Dange Shuni, a nearby town and sell meat at Sokoto Central Market, expressed his gratitude to the federal government for the scheme targeted at petty traders.
He said: “No government in the history of Nigeria has come out with such programme to assist petty traders.
ALSO READ: It’ll be South West’s turn to produce President after Buhari ― Fashola
“Petty traders lack access to loan and even when it is available, the processes are too cumbersome to borrowers. This is why Tradermoni is different as, it requires no collateral, paperwork or guarantor.”
On his part, Salisu Mohammed said: “I have been buying onions from Aliero town, in Kebbi State to resell in Sokoto on credit and my family rely on the meagre profit I made for our survival.
“With this N10, 000 Tradermoni, I will graduate from buying on credit and my business will grow.
“The money will help me buy more bags of onions to sell and I will not have a problem with repaying the loan,” he stated.
Hajiya Hauwa Muhammad, who sell bean cake, was moved to tears, narrating her harrowing experience, selling under harsh weather condition and how the Tradermoni will help her business.
According to her: “I really suffered during the rainy season, because the rain disturbs my business as I do not have a shade over my head where I sell my akara.
“Most times when it rains, I will not be able to fry, and sell akara. My beans will get spoilt and that is loss and bad business.
“But, with this Tradermoni, I will now erect a small tent that will provide shade for me and my customers, from sun and rain.”
Speaking on their mission in Sokoto, a supervisor with Tradermoni, Olaide Ahmed, said: “What we are doing here is to sensitize targeted beneficiaries on how to access the loan and teach them modalities on how to pay back, to benefit higher amount.
“The beauty of the scheme is that majority of the beneficiaries are enumerated at their place of business. After verification by officials of the Bank of Industry, they receive bank payment alert in their mobile phone. Unlike the conventional loans, no collateral or documentation is needed.”
and then