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23 Oct 2018

FG begins disbursement of N10,000 to traders

The Federal Government has begun the disbursement of N10,000 micro-credit each to traders in Bayelsa State.

The scheme, tagged, ‘TraderMoni’ is operated by the Federal Government through the Bank of Industry in collaboration with the GDM Group and Enyowo, a mobile money operator.

Many traders thronged the Tombia market venue in Yenagoa, the state capital, for the commencement of disbursement on Tuesday.

Some of the beneficiaries of the scheme, which is expected to get to over 10,000 traders in the state, expressed appreciation to the federal government for the gesture.

It was observed during the disbursement that proper sensitisation of the programme has not been carried out in the state as many beneficiaries believe that the money is a grant and not a loan.

A trader in fabrics, Nisiama Felix, who got his N10, 000 microcredit commended the Federal Government for the gesture.

He said he would use the money to expand his business.

As for Olugbo Timibara, a photographer, he said that when he was introduced into the TraderMoni scheme, he dismissed it as one of those Ponzi schemes.

Timibara said, “I am into photography. I feel elated to receive the money. It was like a play when my sister introduced me to TraderMoni programme.

“She told me to register that it was real. Given the experience we had in the past with Ponzi schemes, I initially foot-dragged. But she convinced me that it was real and I decided to give it a shot and today, here I am, a beneficiary of TraderMoni.

“I thank the government for the money. It will no doubt boost my business as a photographer no matter how small it is.”

Another trader, Ezekiel Ebi, said the N10,000 given to her would go a long way in boosting her roasted plantain business.

“I was given N10,000 to support my market. There is nothing like payback. It is a privilege to receive the grant. I thank God and the government for the package,” she said.

The representative of GDM Group, Olawale Johnson, said the group was in the state to make the activation good.

He appreciated the Federal Government for the scheme, noting that it would go a long way to ameliorating the sufferings of some traders, especially the petty traders.

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