The Trader Moni scheme of the Federal Government is a no-interest loan for petty traders across the country to boost their businesses.
On Monday, Vice President Yemi Osinbajo had extended the registration to three other markets in Lagos State.
The Trader Moni scheme gives an N10,000 loan to traders to be repaid in other six months.
How To Become A Trader Moni Agent Across Nigeria
The Trader Moni initiative is run by agents as it has been launched in some states like Bauchi, Osun, Imo among others.
Follow these steps to apply for as a Trader Moni agent across the nation:
- Apply through the Directors in-charge of your state/area or locality.
- You can also get help from existing Trader Moni agents in your area to put you through on how you can apply.
Requirements for Trader Moni loan Scheme 2018/2019:
– You must be a Nigerian citizen and aged 18 or older
– A business owner or trader
– Be an active member within any market cooperation union within your location
– Have a valid means of identification
– Must possess a valid BVN
– Must have a valid SIM/phone number properly registered under your name with any of the service providers (MTN, 9moblie, Airtel, Glo etc).
How to apply for Trader Moni loan Scheme 2018/2019:
Trader Moni registration is in two forms, namely; physical and online registration. Physical registration can only be done at the Bank of Industry (BOI) centres.
However, checking out the online can application will hasten the process before going to the Bank of Industry to complete the procedure.
The portal gives applicants access to upload their documents and find access to the preferred BOI State office where they can finish the processing.
Conditions with regards to the application:
To ensure that participation is not open to fraudsters, the Federal Government placed the amount of money to be received on the first application at a flat N10,000. However, if the first money received is paid on time, within the next six months, the applicant will be eligible to receive the next N15,000.
Steps to begin Trader Moni online application:
To apply for the microcredit scheme (Trader Moni), simply use the steps below:
- Visit the website, www.boi.ng
- Navigate the page and click the “Apply for loan now” button
- Next, select “Register here”
- Provide the correct information about yourself. (Name, phone number, email etc)
- A verification link and tracking code will then be sent to the email you provided
Now click on the verification link to log in.
- Once logged in, complete the application form, save and click on “continue”
- You will be sent an email confirming that the application has been received
- Subsequently, you will be informed of the next step, you should take.
In there are issues or difficulties encountered during the process, the applicants are expected to call BOI Customer care on (+234) 0700-CALL-BOI or BOI website, www.boi.ng.