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TradeMoni: BoI launches repayment recharge card

The Bank of Industry, BoI, has begun the roll-out of its voucher-based loan repayment recharge cards for the GEEP TraderMoni, MarketMoni, and FarmerMoni loans.

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Trader Moni was managed by the Bank of Industry since its inception
Bank of Industry has launched a recharge card payment option for beneficiaries of TraderMoni, MarketMoni and FarmerMoni
Bank of Industry has launched a recharge card payment option for beneficiaries of TraderMoni, MarketMoni and FarmerMoni

The Bank of Industry has begun the roll-out of its voucher-based loan repayment recharge cards for the GEEP TraderMoni, MarketMoni, and FarmerMoni loans.

Through a flexible weekly loan repayment plan of N430 per week paid over six months or N860 per week paid over three months, TraderMoni beneficiaries can use the cards to pay back their loans and qualify for the next loan of N15,000.

When they pay that back, they graduate to the N20,000 stage, and then they ultimately graduate into the MarketMoni program where they can get up to N100,000.

READ: Senate President: Ndume unveils nine-point agenda, challenges Lawan

The Government Empowerment & Enterprise Program (GEEP) of the Federal government has enabled easy access to finance and working capital for as many as 1.7million traders across the country since it started in 2016.

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These loans are part of the Federal government’s plan to broaden financial inclusion at the base of the pyramid, and spur economic growth at the grass-roots.

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2 Comments

2 Comments

  1. Janet Daniels

    April 3, 2019 at 8:56 am

    The news story above shows that the government is weighing more than one way to help petty traders payback their loans. Those saying that the loans will not be paid back are jokes.

  2. Janet Daniels

    April 3, 2019 at 8:41 am

    Good strategy by BOI. We’re moving forward. At least critics can relax now.

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