Are you need of Trader Moni Registration Portal? Do you want to register for TraderMoni? If yes then you are the right place. Here, we shall be discussing extensively on how you can register for Trader Moni without much stress. Kindly read through this post to see the information you are looking for.
The federal government rolled out a new soft loan scheme aimed at funding micro businesses in the country. The scheme is called Trader Moni which is meant to help very small scale traders easily get loans without collateral in Nigeria for the purpose of expanding their small businesses.
The new initiative was launched under the Government Enterprise and Empowerment Programme (GEEP) in partnership with the Bank of Industry (BOI).
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Things to know about Trader Moni Registration
You must have a BVN
You must belong to an accredited market association or cooperative registered in your state or with the CAC.
Your association or cooperative must indicate its interest in MarketMoni by submitting its information to BOI including its certificate of registration. You can visit www.boi.ng/marketreg, or call 0700-CALL-BOI (which is 0700-225-5264), visit any Bank of Industry (BOI) office around you, or go through your assigned State Focal Person to register your cooperative’s interest in MarketMoni.
If your association or cooperative qualifies, a MarketMoni agent would be sent to your group promptly to capture your members for loan assessment.
Unlike other existing GEEP, Market Moni loan scheme, which targets market women, traders, artisans and entrepreneurs, the TraderMoni is a micro-credit scheme to cater for ultra-micro enterprises.
MarketMoni, also known as the Government Enterprise and Empowerment Program (GEEP), issues interest-free loans to market women and traders, artisans, youth and farmers.
It is one of the social intervention programs of the Federal Government and is being executed by the BOI. MarketMoni has started disbursing funds to its first set of registrants across the country. Beneficiaries received loans ranging from N10,000 to N100,000 per person for 6 months. MarketMoni attracts no interest except a one-time 5% administrative fee with over 24,000 beneficiaries.