Nigerian Government Distributes Cash to Petty Traders
Dec 21, 2019 ·
1m 10s
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Description
The Federal Government plans to distribute N10 billion as a Trader Moni loan to petty traders and artisans in the 2020 fiscal year. Under the Trader Moni micro-credit scheme, the...
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The Federal Government plans to distribute N10 billion as a Trader Moni loan to petty traders and artisans in the 2020 fiscal year.
Under the Trader Moni micro-credit scheme, the Federal Government (FG), through the Bank of Industry (BOI) provides interest-free and collateral-free loans to petty traders and artisans. The loan ranges from N10, 000 to N100,000 per beneficiary.
The loan is part of the social intervention programs under President Muhammadu Buhari led administration. A BOI official confirmed that the bank does not receive any other money from the Federal Government apart from the fund received for disbursement as Trader Money.
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Under the Trader Moni micro-credit scheme, the Federal Government (FG), through the Bank of Industry (BOI) provides interest-free and collateral-free loans to petty traders and artisans. The loan ranges from N10, 000 to N100,000 per beneficiary.
The loan is part of the social intervention programs under President Muhammadu Buhari led administration. A BOI official confirmed that the bank does not receive any other money from the Federal Government apart from the fund received for disbursement as Trader Money.
Information
| Author | Africa Business Radio |
| Organization | Africa Business Radio |
| Website | - |
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