TraderMoni beneficiaries debunk claims that PVCs were required from
them before they were registered for the loan. TraderMoni was created to
empower hardworking petty traders and artisans at the base of the
economic pyramid.
The Federal Government recognized the need for those
at the end level of the commercial chain to be financially equipped as
these set of people find it hard to meet the burdensome requirements for
securing loans at other micro-credit institutions. Micro businesses
make up a significant portion of the economy in Nigeria, having over
twelve million petty businesses. These businesses lack adequate running
capital, talk less of the ability to increase their inputs and grow the
businesses.
Despite the prominent objective of this initiative, there has been
misinformations on the use of PVC, giving of free money and other vital
information about the on-going TraderMoni are currently spread
throughout all media platform. All these are false claims.
The well-intended Government Enterprise and Empowerment Programme (GEEP); TraderMoni,
aimed at boosting micro businesses by giving them interest-free and
progressive loans from N10,000 to N100,000 upon repayment, do not
require any PVC or electoral document as a prerequisite for
registration. The essential conditions to be eligible for the loan is to
be a petty trader or artisan in Nigeria. The applicants just need to
provide their names and phone numbers to be remunerated.
Some beneficiaries who were contacted affirmed that the TraderMoni
agents in charge of registration and disbursement of the loan only
requested their names and phone numbers. Also contacted was Dr. Alade
Adebiyi, the General Secretary of Oyingbo market, Lagos state present at
their market activation. He also confirmed that No PVC was required to
acquire the TraderMoni loan.
Hence, It is vital to know that PVC is not a criterion for TraderMoni.
All information as to regards the use of any personal electoral
document or forms are to be disregarded and considered null and void.
