TraderMoni is a scheme created by the federal government to give traders in the country N10,000 each, but since the announcement, some rumors have been going around that the traders need to have a PVC before they will be able to benefit from the scheme.

Speaking on information, the Vice President, Yemi Osinbajo’s Spokesman, Laolu Akande clarified the stance of the Federal Government on this and said no document of any kind is required.

He spoke against the backdrop of claims that PVC was a requirement for the money.

The spokesman said the President Muhammadu Buhari administration would intensify its efforts to empower more Nigerians economically as it continued to inaugurate the collateral-free loans to petty traders across the country.

He said: “The petty traders are not required to show PVC or any document for that matter, they are only expected to show they are petty traders and this is why the enumeration is done in the markets and wherever the traders ply their trades.”

Akande also explained that those who questioned the timing of the loans had forgotten that the credit scheme was part of the Social Investment Programme (SIP) of the Buhari presidency, and had commenced since 2016.

The media aide said that Trader Moni specifically was conceived in 2016 and wondered if the initiative aimed at empowering traders would be suspended just because some people would insinuate motivations.

“Nigerians already know that the Buhari Administration is one that is projecting the interests of the common man, Nigerians who are at the lower rungs, and this is not a new perception at all.

“This week, the interest-free loans, which have now been launched in eight States including the FCT, would be extended to more States including Oyo, Cross Rivers, and Kaduna State,” he said.

The presidency added that the micro-credit scheme has been introduced Lagos, Kano, Abia, Akwa Ibom, Katsina, Osun, Abuja, Kogi and FCT.



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