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What is TraderMoni

Interest Free loans

TraderMoni is a loan programme of the Federal Government, created specifically for petty traders and artisans across Nigeria. It is a part of the Government Enterprise and Empowerment Programme (GEEP) scheme of the Federal Government, being executed by the Bank of Industry.

With TraderMoni, you can receive interest-free loans starting from N10,000 and growing all the way to N100,000 as you pay back. You get N10,000 as the first loan. When you pay back the first loan, you immediately qualify for a second loan of N15,000. After payback of the second loan, you qualify for a N20,000 loan, and then N50,000, and then N100,000.

With TraderMoni, the Federal Government wants to change your level by providing continuous loans for your petty business, making each loan bigger to enable you to grow.

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By the end of 2018, the Federal Government targets to disburse 2 million TraderMoni loans across all 36 states and the FCT. Each state (and the FCT) will receive a minimum of 30,000 loans. Federal Government understands the plight of the over 20 million Nigerians in petty business and in dire need of capital to grow their businesses.

These Nigerians rarely have bank accounts, and are usually not “interesting” or “profitable” to traditional lenders. They cannot access loans to trade, and they therefore remain in a cycle of poverty. Federal Government is on a mission to break this poverty cycle.

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TRADER MONI IN THE NEWS

BELLA NAIJA:How Federal Government is Transforming the Lives of Traders & Artisans | PUNCH NAIJA:Osinbajo promises more funds for Trader Moni loan | THE EAGLE ONLINE:GEEP TraderMoni Designed To Benefit All Other Members Of Nigerian Trader Groups | SPARK GIST:How to Apply for the TraderMoni loan scheme | INFO PADI:Apply for Bank of Industry TraderMoni Loan 2018. Proper steps to get the loan | THE GUARDIAN:BoI targets two million traders under tradermoni scheme | PREMIUM TIMES: PHOTOS: Osinbajo takes ‘Trader Moni’ to Ibadan markets
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