Osinbajo speaks on suspending Trader Moni - Islanders Magazine

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Thursday, 21 March 2019

Osinbajo speaks on suspending Trader Moni

Vice President Yemi Osinbajo has reacted to report making the rounds of the alleged suspension of Trader Moni empowerment scheme.

Reports had it that Osinbajo had suspended the scheme after presidential election and has not toured any state to promote Trader Moni in the last one month.

Reacting, however, Osinbajo Media Aide, Laolu Akande, debunked the report.

According to him, Trader Moni has not been suspended contrary to reports in a section of the media.

Laolu on his Twitter page wrote: “Trader Moni, the interest/collateral free N10,000 loans for petty traders is on course. Ignore reports to the contrary.

“In fact, since after the elections, about 30,000 new loans have been given across ten states.

“Also since traders have started repaying, N15,000 disbursements.”

Trader Moni is an initiative of the Federal Government, through Bank of Industry and Government Enterprise and Empowerment Programme.

The programme is part of the Federal Government social intervention aimed at funding micro business in the country through soft loans beginning from N10, 000.

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