#TraderMoni: Massive Crowd Welcomes Osinbajo to Kwara (Photos; Video)

2018 NECO GCE (Nov/Dec) - Revised Final Timetable (See Details) - Click Here

Hoodlums invaded the Mandate Market in Ilorin, Kwara State, on Thursday and scared away petty traders and TraderMoni agents, disrupting the disbursement of money to beneficiaries of the scheme.

As early as 9am, the hoodlums, some of them wearing ‘PDP Atikulated T-shirts’, stormed the Mandate Market, insisting that the TraderMoni scheme could not be conducted because Senate President Bukola Saraki’s father donated the land to the state government to build the market

It was not clear whether they were sent by anyone or whether they were mere party zealots working on their own.

According to witnesses, including Bank of Industry officials who were at the market to supervise the enumeration and disbursement of the N10,000 collateral-free loans, the arrival of the mob at Mandate Market caused some uproar.

Download e-books for education and research for FREE - Click Here

The thugs also intimidated the petty traders who had lined up to participate in the programme. Many of the traders were palpably annoyed and refused to leave the market. Calm was, however, restored with the intervention of the Police.

At the Ipata Market, where enumeration and disbursement of the TraderMoni loans were also going on, market leaders reportedly rebuffed pressure from some officials of the state who alleged urged them to shun the enumerators.

Click Here to Join Newsnow Nigeria WhatsApp Group for Breaking News Alerts

The programme went on without incident. Officials of the Bank of Industry told newsmen that enumeration had been going on in the two markets in Kwara State in the last few days, without incident until Thursday (today). Vice President Yemi Osinbajo is expected in the markets on Friday, December 7.

TraderMoni, which is part of the Federal Government’s Social Investment Programme (N-SIP) under GEEP, is designed to assist petty traders across the country expand their trade through the provision of collateral- and interest-free loans from N10,000.

Get the latest BREAKING NEWS inside your e-mail address inbox; fill the form below and click the subscribe button
English Premier League – Fixtures, Results and Table - Click Here Nigeria Premier Football League – Fixtures, Results and Table - Click Here

The loans are repayable over a period of six months, at which point the traders, on repayment, will receive a fresh N15,000 loan, which rises to N20,000 when repaid.

The micro credit scheme, which has since been formally launched nationwide and also at the FCT, is expected to reach two million petty traders by the end of the year.

VP Osinbajo acknowledging cheers at the Emir of Ilorin’s palace – Watch Video

 

 

 

 

Follow Us on FACEBOOK, TWITTER

Do You Know Nigeria? Attempt 10 simple questions on Nigeria for FREE and Win FREE N500 Airtime - Click Here to Participate!

For your news articles, press release, Breaking News, send e-mail to [email protected]