Abuja, the capital city of Nigeria, is one of the…
The federal government has launched a new scheme that will allow small traders to access collateral free loans.
Tweeting about this development, Senior Special Assistant on Media and Publicity to the Acting President, Laolu Akande wrote:
“Presidency announces take off of Trader Moni: a scheme that offers N10,000 collateral free loans to petty traders in the first instance & much more after repayment. We plan to reach 2 million such beneficiaries across the country between now and end of the year.”
This is one of the attempts of the Buhari government to help address poverty and boost economic activity.
It will be interesting to see how effective the programme is.