Just in case you don’t know what theTrader Moni schemeis all about. The programme is part of the Federal Government social intervention with the main objective of funding micro business in the nationwide through soft loans beginning from N10, 000.
It is an initiative of the Federal Government, throughBank of Industryand Government Enterprise and Empowerment Programme. The programme was launched in August 2018.
There were also rumors just before the commencement of the 2019 General Elections about the Trader Money scheme been used as a means for vote buying.
The chairman of the anti-corruption organisation, Awwal Rafsanjani, also noted that the initiative was an “official use of public funds in the name of TraderMoni to actually induce voters.”
However, Petty traders in Oyo, Cross-River Lagos, Kano, Abia, Akwa Ibom, Katsina, Osun, Kogi and Abuja in the Federal Capital Territory, have benefited from the distribution of the Trader Moni loans by VP Yemi Osinbajo.