The Federal Government (FG) has exciting news for traders.
FG Tradermoni N50,000 Interest-Free Loan – November 2023
On October 9, they announced the return of the TraderMoni scheme.
This program gives traders an interest-free loan to boost their businesses.
FG Tradermoni N50,000 Interest-Free Loan – November 2023
The government will start the TraderMoni program again in November. They will give N50,000 to each person to help their businesses.
This loan program started in 2018. It stopped for some time but it’s not finished. Betta Edu, who is in charge of helping people and reducing poverty, talked about it. She said they will go to 109 big markets to give the money. This time, instead of N10,000, they will give N50,000 to each trader.
She talked about this on a TV show called Sunday Politics.
Edu said they don’t care about politics or other things. They will meet the traders in the market, open a bank account for them, and send the money from the CBN account.
This loan doesn’t have any interest. If people pay back, they can get another loan.
She also said this program is not for politics. The election is over and the government wants to help people. The President, Bola Ahmed Tinubu, is focused on this.
TraderMoni is a loan program created by the Nigerian government to provide microfinance and complementary economic services to petty traders and artisans. It is a component of the Government Enterprise and Empowerment Programme (GEEP), a social investment program that aims to provide financial support to low-income Nigerians.
