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The federal government will restart the Tradermoni scheme in November with each beneficiary getting N50,000 to support their business.
TheNewsGuru.com (TNG) reports the Minister of Humanitarian Affairs and Poverty Alleviation, Mrs Betta Edu made the disclosure on Sunday.
While the interest-free loan scheme for traders – started in 2018 – has been on hold for some time, Mrs Edu said the government was set to relaunch it.
Confirming that the scheme has not been scrapped, she said: “Now, for the first set, which we are starting in November, we are selecting one big market per senatorial district.
“That is 109 markets and we are going into the markets, capturing the traders in their shops in the markets.
“Unlike the N10,000 given to traders in the earlier phases, there is more money for the beneficiaries. It’s N50,000 to support their businesses,” Edu said on Channels Television’s Sunday Politics.
She added: “We are not interested in party lines, or any social or personal interest. We capture them in the market and then after doing so, we create a bank account just as they are being captured, and the monies are sent directly from the CBN account”.
Meanwhie, the Minister also disclosed that the federal government will launch the conditional cash transfer policy for 15 million households on October 17th, 2023.
The Minister said: “With the approval from the President which we hope to get this week, on the 17th of October, we will be officially launching the conditional cash transfer to 15m households in Nigeria,” the minister said.
According to her, the ministry is working with stakeholders across the country to get a credible register of beneficiaries.
“As we speak, we are having a verification exercise. Every state can bear us witness that we have put boots on the ground – persons who are working with the state cash transfer office as well as the governors who are the heads of the steering committee and then several other persons,” she said.