The Federal Government of Nigeria has reactivated Trader money, Market Money and Farmer money as a palliative package to alleviate the suffering of Nigerians during the period of lockdown.
President Buhari made this announcement during his National broadcast on ravaged coronavirus in Nigeria. President Buhari disclosed that:
“I have directed that a three-month repayment moratorium for all TraderMoni, MarketMoni and FarmerMoni loans be implemented with immediate effect.
“I have also directed that a similar moratorium be given to all Federal Government funded loans issued by the Bank of Industry, Bank of Agriculture and the Nigeria Export-Import Bank.”
Nigerians are eager to know how to apply and collect the new Federal Government TraderMoni, MarketMoni and FarmerMoni. Nigerians are lockdown at home for 14 days, especially in Lagos, Ogun and Abuja. Many are people are demanding a form of compensation from their Government. Nigerians expect their Government to give them something to help them face the hardship of lockdown.
In quick response to the questions of Nigerians, I have made a little research on how to collect FG MarketMoni, TraderMoni and FarmerMoni.
What is TraderMoni?
According to the official website of TraderMoni, TraderMoni is a Federal Government support initiative to grant a small loan to the small traders who are finding it difficult to raise capital. With TraderMoni trader can collect small loan and free-interest from N10,000 to N100,000. The loan will be paid between the period of three money. If you are faithful and repay the loan, you can get a higher loan until it gets to N100,000. More information about the traderMoni can be obtained from the website of TraderMoni.
What is MarketMoni?
MarketMoni just like TraderMoni is a Federal Government initiative where a small amount of money is given to unbank trader as a loan with a small interest rate of 5%. MarketMoni (GEEP) objectives are to assist SME with easy and quick loans at no interest rate besides a five per cent (5%) administrative fee. The starting loan is from N30,000. You can search for more information about MarketMoni.
What is FarmerMoni?
FarmerMoni is a Government Enterprise and Empowerment Programme (GEEP) Initiative created to boost the Nigerian economy through leverage and access to finance for farmers. FarmerMoni is designed to help petty traders expand their trade through the provision of collateral-free loans. The loans are repayable over a period of six months. Under the scheme, beneficiaries can get access to a higher facility ranging from N300,000 to N2,000,000 when they repay within the stipulated time period. Check more from the official website FarmerMoni
How To Collect FG TraderMoni
Now how do you collect new Federal Government? Who is qualified for TraderMoni. This is the focus of this article. You will qualify for TraderMoni if Are you a small foodstuff seller, bread seller, wheelbarrow pusher, cobler, fruit seller, Keke rider, or a mobile tailor.
The Trader money registration is simple, to apply for the Trader Money Loan online, follow these steps below:
- Visit the Bank of Industry Loan website via www.boi.ng
- Find the “Apply for Loan Now” button and click it
- Click on “Register Here” to create an account
- Click on the verification link that will be sent to you shortly coupled with tracking code. Then, login.
- Once you log in, you’ll be able to complete the application form, save and click on “Continue” to submit the form.
- You’ll receive an email you used when signing up, which will confirm the receipt of your application.
How To Collect FG MarketMoni
- Kindly visit the MarketMoni loan application webpage at via apply.marketmoni.com.ng
- Now, download the MOU Template (one per co-operative)
- Download the Excel Sheet (one per co-operative) so you can provide your members’ details
- Fill the MOU template and Excel sheet carefully with the right information
- Come back to the page webpage above and submit your MOU and Excel sheet.
Market Moni Agents In Nigeria
You can view the list of market money agents per state in Nigeria at http://marketmoni.com.ng/agent-network/
How To Collect FG FarmerMoni
For FarmerMoni you can apply through the official website at https://startcredits.com/loans/farmermoni/