Presidency says Trader Moni scheme has not ended


The Presidency Presidency has debunked reports which state that Trader Moni scheme and other Government Enterprise and Empowerment micro -credit products ( MarketMoni and Farmer Moni ), a component of the Buhari administration’ s Social Investment Programme, have ended.

Senior Special Assistant on Media and Publicity to the Vice President, Professor Yemi Osinbajo, Laolu Akande made this known when he spoke to news men in Abuja on Thursday.

According to him, the micro -credit schemes have not stopped, and that 30, 000 petty traders had received TraderMoni loans after elections.

“So far, a target of 30, 000 minimum beneficiaries per state has been achieved in the majority of the 36 states and Federal Capital Territory after the national and state polls.

“What the implementing agency has been doing since the last phase of disbursements is generating the balance of programme funding while ramping up on the states with shortages.

“Consequently, disbursements have continued to happen in the states. For instance, we have had over 28, 000 disbursements across 10 states since after the elections.

“Our priority is ramping up these numbers before we move to phase two of the programme after detailed reviews and structural enhancements for larger scale.

“Under the Next Level agenda, TraderMoni loans will target 10 million petty traders, a significant ramp up from the initial target of two million beneficiaries. ”


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