Tradermoni news
TraderMoni is a popular news topic in Nigeria, especially among small-scale traders and entrepreneurs. Here are some recent news updates about TraderMoni:
Latest News:
- TraderMoni Loan Disbursement Resumes: The Federal Government has announced the resumption of disbursement of TraderMoni loans to small-scale traders across the country. The loan scheme, which was suspended earlier due to some issues, is now back on track. (Source: Vanguard News)
- TraderMoni Loan Limit Increased: The Federal Government has increased the loan limit for TraderMoni from N10,000 to N15,000. This move is aimed at empowering more small-scale traders and entrepreneurs. (Source: The Punch)
- TraderMoni Loan Repayment Period Extended: The Federal Government has extended the repayment period for TraderMoni loans from 6 months to 12 months. This move is aimed at giving traders more time to repay their loans. (Source: Daily Trust)
Background:
TraderMoni is a micro-credit scheme launched by the Federal Government in 2018 to empower small-scale traders and entrepreneurs across Nigeria. The scheme provides loans of up to N10,000 (later increased to N15,000) to traders, with a repayment period of 6 months (later extended to 12 months). The scheme is designed to help traders grow their businesses and create jobs.
Impact:
TraderMoni has had a significant impact on the lives of small-scale traders and entrepreneurs in Nigeria. The scheme has helped to increase access to credit for many traders who previously had limited or no access to loans. It has also helped to create jobs and stimulate economic growth in the country.
Challenges:
Despite its success, TraderMoni has faced some challenges, including issues with loan disbursement and repayment. Some traders have complained about delays in receiving their loans, while others have struggled to repay their loans due to economic challenges. The Federal Government has been working to address these challenges and improve the scheme.
I hope this information is helpful!