Traders in Imo State were excited at the weekend as TraderMoni, the Federal Government’s policy of assisting petty traders in the country was launched in the state.
Hundreds of traders at the Relief Market in the Owerri metropolis filed out to register for the quick cash transfer of N10,000 from the Bank of Industry, managers of the fund.
Speaking at the Owerri Relief Market, the vice president, Prof. Yemi Osinbajo, said the scheme is a deliberate policy of the government to assist small-scale businesses in the country to grow as well as to reduce poverty among the people.
Osinbajo also said the current administration would continue to ensure that the welfare of Nigerians would be its major priority and urged the people to continue to support efforts of the government to make the country a better place for all.
Meanwhile, some of the traders who spoke to newsmen said they had earlier heard the announcement on radio but had thought it was one of those gimmicks of government, which never works.
One of the traders who identified herself simply as Agnes expressed gratitude to the federal government as she had received an alert immediately she completed her registration while still at the point of registration.
“It worked like magic because as soon as I registered and provided them with my account number, I received an alert of N10,000. It is now that I know it is real.”
Mrs. Toyin Adeniyi, Executive Director of the Micro Enterprise department of the Bank of Industry said it is part of the policies of government to assist petty traders in the country to grow their businesses.
She urged beneficiaries to ensure that they repay the loan within six months to enable them access more loans to help their businesses.