The schemes were launched in both Eke Awka in Awka South Local Government Area and Ochanja Market in Onitsha, as beneficiaries acknowledged the receipt of funds ranging from N10,000 for the TraderMoni and N50,000 for the MarketMoni, a statement from the Bank of Industry indicated on Thursday.
The Executive Director, Micro Enterprises, BoI, Mrs Toyin Adeniji, was quoted as saying that the unveiling of the second phase was aimed at sustaining efforts to meet the target of financial inclusion and increased access to affordable credit for traders and small business owners.
She said, “This phase will target at least 2,000 new TraderMoni and MarketMoni beneficiaries. This is in addition to the over 30,000 TraderMoni and 4,000 plus MarketMoni beneficiaries that received the Government Enterprise and Empowerment Programme loans between 2017 and 2018.
“Prior to this official market activation, 200 new MarketMoni beneficiaries have been recorded in the state. The second phase will also target traders for the N15,000 Next Level TraderMoni loans for traders who have repaid the first N10,000 loan.”