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All You Need To Know About The TraderMoni Scheme

Petty traders are not required to fill any form to benefit from the TraderMoni Scheme, Vice President Yemi Osinbajo said yesterday.

Warning traders not to give in to fraudsters while featuring on a question and answer session aired yesterday by Wazobia FM, 95.1, in Lagos, Osibnajo spoke after activating the scheme at Obalende, Makoko and Oyingbo markets in Lagos.

TraderMoni is a Federal Government initiative which is providing about two million petty traders across the country with collateral-free loans before the end of the year.

The vice president, who spoke in Pidgin English said anybody carrying forms for TraderMoni was a fraudster.

“No form dey for TraderMoni, we no dey give anybody form to fill at all, the people wey get TraderMoni, many of them no fit fill form at all, so we no dey give anybody form.
“The way we do it be say, enumerator -like person we dey do census go market, go all the places where we get all these traders outside market –the roads wey dey lead to market.

“Him go see wetin dem dey sell, e go take your photo, the thing wey you dey sell, your name, put everything down on his own tablet, na for phone dem go contact you.
“The first alert wey you go get na for phone, anybody wey don get TraderMoni na for phone e dey get am, anybody wey carry form come say this one na for TraderMoni, na lie, that one na 419.

“Everything is electronic, you get alert, you go cash your money,’’ he said.

Osinbajo said by next month, two million petty traders would have benefitted from the scheme which has covered more than 1.3 million petty traders nationwide.

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