Millions of Nigerian petty traders who benefited from the N10,000 tradermoni of the Federal government are in for a surprise as the money has been increased to N15,000.
Traders who benefited from the first phase of the programme have been asked to repay the N10,000 loan and collect N15,000 to improve their businesses.
”We are now in the second phase. Repay your 10,000 loan today and apply for a higher loan of 15,000.
Happy new week!” tweeted Tradermoni.
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.