There have been insinuations that persons who need the TraderMoni Loan from the Federal government will have to show their Permanent Voter Card, but the Vice President, Professor Yemi Osinbajo, wants you to know the real requirement for the loan.

In a statement by his spokesman, Mr Laolu Akande, Professor Osinbajo said petty traders do not require to tender their Permanent Voter Card (PVC) before benefiting from the TraderMoni scheme.

Mr Akande gave an update on the micro-credit scheme on Sunday in Abuja.

He explained that to qualify for the TraderMoni scheme, no documentation of any kind was required.

The spokesman for the Vice President said the President Muhammadu Buhari Administration would intensify its efforts to empower more Nigerians economically as it continued to inaugurate the TraderMoni 10,000 Naira collateral-free loans to petty traders across Nigeria.

“The petty traders are not required to show PVC, or any document for that matter. They are only expected to show they are petty traders and this is why the enumeration is done in the markets and wherever the traders ply their trades,” he said.

Opposition Peoples Democratic Party (PDP) had chided the Vice President in respect of the scheme, saying Professor Osinbajo stooped so low to encourage the 10,000 Naira Tradermoni initiative of President Muhammadu Buhari.

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The political party described the loan scheme as “Agbo jedi” empowerment. 

But Mr Akande also explained that those who questioned the timing of the loans had forgotten that the credit scheme was part of the Social Investment Programme (SIP) of the Buhari presidency, and had commenced since 2016.

The media aide said that TraderMoni specifically was conceived in 2016 and wondered if the initiative aimed at empowering traders would be suspended just because some people would insinuate motivations.

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The interest-free loan has been launched in eight States including the FCT, and would be extended to more States including Oyo, Cross Rivers, and Kaduna States, the spokesman for the Vice President added. 

State where the scheme has been introduced are Lagos, Kano, Abia, Akwa Ibom, Katsina, Osun, Abuja, Kogi and FCT.

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