No fewer than 10,000 traders in various markets in Bayelsa state
have benefited from the federal government’s tradermoni free
interest loan empowerment scheme, an official has said.
Taiwo Tunmobi, the officer in charge of strategy and operations
in the Government Enterprise and Empowerment Programme (GEEP), on
Thursday, August 8, said this in Yenagoa at the end of the
exercise.
Tunmobi said that over 20,000 traders had earlier registered for
the programme but 10,000 were considered in the first batch of
beneficiaries.
The News Agency of Nigeria (NAN) reports that federal government
delegation went to major markets in the state capital, including
Tombia-Etegwe roundabout, Okaka market and others, disbursing
N10,000 to the 10,000 persons shortlisted for the scheme.
He urged beneficiaries to make good use of the money and ensure
that they pay back at the stipulated time to enable government to
do more for them.
According to the GEEP officer, two options were given to the
beneficiaries to repay the loan after two weeks- either to make
daily payment of N85.00 or N430.00 weekly payment to the tradermoni
account of the Federal Government in any bank of their choice.
“Those who finish the repayment of their first loan on time
stand the opportunity to receive higher amount of N15,000 and so
on. Of course, our targets are micro business SMEs; these are
people who typically have zero access to credit.”
“As the government helps them to grow their businesses, their
families will benefit and the economy will also benefit,” Tunmobi
added.
Some of the beneficiaries expressed appreciation to the federal
government for the gesture.
The chairman of Tombia-Etegwe roundabout market, Felicia
Okwodejo, thanked the government and the organisers of the
programme for making her a beneficiary.
She urged beneficiaries to ensure that they pay back the money
as and when due.
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