Petty Traders in Onitsha Main Market have received N10,000 Federal Government small business
scheme known as TraderMoni.
The traders, who had earlier registered for the scheme, on Thursday, during the official disbursement of the cash scheme at White House Main Market Onistha received credit alerts of N10,000 as the first stage of the scheme in their mobile phones.
It was excitement and jubilation as over 200 petty traders within and around the market receives TraderMoni bank alerts which they were earlier termed to be a fraud.
But, when bank alerts started hitting different beneficiaries’ phones, the situation changed even those who were yet to receive their alerts were anxiously waiting and discussing with the officials of the disbursement contractor at the venue on what next to do to receive their alerts.
The Project Supervisor of Generating Demand Management (GDM) of the enrollment, activation and disbursement company, handling the project in conjunction with Bank of Industry, BOI, Mr. Adebowale Bakare said they targeted 30,000 beneficiaries from Anambra State.
According to him, “Those who are receiving their bank alerts today for the TraderMoni, were those who enrolled a month ago when the group visited for the market for enlightenment, the people who are enrolling today will not be paid today, is only those who enrolled last month we are here to pay but everybody that enrolled will be paid.
“We are here today for enrollment of new beneficiaries, data activation of next set of beneficiaries and disbursement for the beneficiaries whose enrollment has matured, the programme has been on but people are not embracing it before now.
“The traders are given N10,000 to pay back N10, 250 in six months to collect N15,000, pay back N15,375, before another six months to collect N20,000, and then pay back N21,000 to collect N50,000 and to pay back N52,500 to collect N100.000.”
Some of the beneficiaries, Mrs. Gladys Nwafor and Eunice Imo, sachet water sellers commended Federal Government for the loan, adding that it would help them in boasting their business, and appealed for its continuation.
Mrs. Nwafor said that she will use the money to go into Garri selling to make more gain in order to collect higher amount of money for more expansion in her business.