Vice President Yemi Osinbajo yesterday launched the Federal Government’s N10,000 interest free loans, otherwise known as TraderMoni, in three more Lagos markets.
Osinbajo who led other Federal and Lagos state officials to Ikotun, Igando and Ile Epo markets, also urged the traders to make judicious use of the loans to secure more.
While interacting with the traders, Osinbajo said the objective of the scheme would be defeated if traders do not repay the loan to secure more from Federal Government.
“This is one initiative this administration has put in place to address the plights of those at the grassroots. To help you grow your businesses and make lives meaningful to you and your families. That’s why we ensure there is no collateral and when you repay the loans, you can secure more from government because it shows you are serious with what you are doing, “ he said.
Some of the traders who spoke to Daily Trust applauded the gesture but pleaded for more loans saying they would be willing to boost their trades and businesses with as much fund as possible made available to them.
Yemisi Babalola, a salt trader in Ikotun market expressed readiness to invest the money in her trade.
She said although she would love the money to be increased, she is nonetheless going to make judicious use of the initial fund to qualify for more loans.
Similarly, Jide Akanni, a butcher at Old Ile Epo market said he took the arrivals of TraderMoni officials in the market for him to be convinced that it was real.
He said having been registered and his account credited, he now believes the scheme is real.
“When they say TraderMoni, I always thought it was one of these political gimmicks. But today, I am convinced it is real. If I can repay the initial loan given, I have been assured of prompt increased money,” Akanni said.