Osibanjo suspends trader moni tour

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Just in case you don’t know what the Trader Moni scheme is 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, through Bank of Industry and Government Enterprise and Empowerment Programme. The programme was launched in August 2018.

“Trader Moni”: Osinbajo assures of govt.’s efforts to encourage traders grow

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.”

He added, “It was not done three years ago. It was only started close to election time. So, the allegation by many Nigerians that this is clearly a case of vote buying using public funds goes contrary to our constitution and to have a free and fair election.”

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.

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