FG Disburses Trader Moni Funds To Anambra Traders
Trader Moni is an initiative to empower petty traders. Image: Twitter/Laolu Akande

Traders at the Main Market in Onitsha, Anambra State, have received the N10,000 Trader Moni loan from the federal government.

Over 200 petty traders within and around the market got credited with the money as others awaited theirs.

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The Project Supervisor of Generating Demand Management (GDM) of the enrollment, activation, and disbursement company running the project with the Bank of Industry, (BOI) Adebowale Bakare said about 30,000 persons will benefit from the scheme in the state.

“Those who are receiving their bank alerts today for the TraderMoni, were those who enrolled a month ago when the group visited for the market for enlightenment, the people who are enrolling today will not be paid today, is only those who enrolled last month we are here to pay but everybody that enrolled will be paid,” Bakare said.

“We are here today for enrollment of new beneficiaries, data activation of next set of beneficiaries and disbursement for the beneficiaries whose enrollment has matured, the programme has been on but people are not embracing it before now.

“The traders are given N10,000 to pay back N10, 250 in six months to collect N15,000, payback N15,375, before another six months to collect N20,000, and then pay back N21,000 to collect N50,000 and to pay back N52,500 to collect N100.000.”

The Trader Moni scheme is a no-interest loan of N10,000 given to petty traders in the country by the federal government.