Clement Adeyi, Osogbo
The Federal Government, in collaboration with the Bank of Industry (BOI) as well as Government Enterprise and Empowerment Programme (GEEP), yesterday, launched a N30 million collateral-free grant in Osun State.
The initiative known as TraderMoni is intended to serve as a lifeline for traders.
With the initiative, the traders can access loans to the tune of N10,000 without collateral and further obtain N15,000 after refunding the initial N10,000.
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The ‘TraderMoni’ was launched in Iwo, Iwo Town, by Vice President Yemi Osinbajo.
While performing the official launch, Osinbajo said the initiative was part of the federal government’s social intervention aimed at funding micro business in the country and for poverty alleviation.
Osinbajo said no government in the history of the country had offered such lifeline to the less privileged as the All Progressives Congress (APC) government had done.