Tradermoni: Real reason we considered petty traders -Osinbajo

AMCON gets presidential directive on debts recovery
Osinbajo

Vice President Yemi Osinbajo, on Friday, disclosed that the Federal Government considered petty traders for the Tradermoni micro credit scheme because of the difficulty they face in accessing loan.

He said the general belief was that the petty trader would not be able to pay back loans, so they hardly had access to the facility.

Osinabjo made the disclosure just as he also revealed that the government would, next year, establish a People’s Money Bank with branches all over the country.

The bank, he said, would be set up next year.

Osinbajo who spoke on a private radio station, Sobi FM Ilorin, after launching the Tradermoni programme at Ipata and some other markets in the town said contrary to the belief in some quarters, it had nothing to do with political consideration.

He explained that the target was a total of two million petty traders across the states of the federation.

According to him, no fewer than 30,000 petty traders would benefit from the scheme in every state.

He said the programme was commenced in 2016 but execution started about seven months ago after the approval of the money for it by the National Assembly.

He said the money was designed to make life better for the people.

He added:  “It is false that only members of the APC are being considered for the money. Nobody even asks anybody about his or her party or trying to know whether you are APC or PDP. Even those who belong to no party are part of the beneficiaries.”