34,000 petty traders get ‘Trader Moni Enterprise & Empowerment’ loan

No fewer than 34,000 petty traders are to benefit from Federal Government’s ‘Trader Moni Enterprises and Empowerment’ programme in Gombe state, North-Eastern Nigeria.

Mallam Ishaya Usman, supervisor of the programme in the state, told newsmen on Thursday in Gombe that each of the traders would be given N10,000 interest-free loan to boost his or her business.

He said the loan, which did not require any collateral as a condition, is expected to be repaid within six months.

According to him, beneficiaries did not have to pay any amount apart from the administrative charges of N250, through some designated banks.

Usman said those who were able to successfully repay the loan would qualify for another loan of between N15,000 and N50,000 subsequently.

He therefore called on those benefiting to utilize the money for the purpose it was meant.

Source: Voice of Nigeria