Trader Moni: Bank Of Industry Doles Out N12b To 1m Traders

Trader Moni: Bank Of Industry Doles Out N12b To 1m Traders

Vice President in Bodija-and-Oje-Market

About 1.2 million traders have been given N12 billion under the Federal Government’s Trader Moni Scheme, according to the Bank of Industry (BoI).

This figure was revealed by the BoI Executive Director Toyin Adeniji during a briefing in Abuja on Monday.

According to Adeniji, the Trader Moni Scheme has recorded 1.2million new entrants into the formal financial system as new operators of bank accounts or mobile wallets.

In addition, he said these loans cover 2,600 markets and clusters in the country with over 4000 agents on the ground.

“GEEP loans can be repaid by walking into commercial banks and paying over the counter, paying at local agents of our aggregators or our mobile representatives and by purchasing of GEEP vouchers in your marketplace and recharging your loans account just like a telco recharge card,” he said.

Trader Moni: How To Get Loan, Become Agent Nationwide

He added that the bank did not go through market leaders in the disbursement of the loans so that those qualified will benefit from the scheme.

Concise News had reported the application procedure for the Trader Moni scheme as well as what people need to become a Trader Moni agent.


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Egobiambu Emmanuel is a Mass Communication graduate from the University of Benin. He is a media enthusiast, loves reading and writing, and has a special interest in personal development. Emmanuel is a reporter with Concise News.




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