Discover and read the best of Twitter Threads about #tradermoni

Most recents (12)

Let me tell you a little bit about how Nigeria works from a perspective you have never seen and one that you may never be taught in school. The most potent means of getting visibility is competency cum discipline in what you do passionately & the other is your relationship.
This is a twin concept in any ideal situation where one can’t do without the other unless in Nigeria where competency is supplanted under the heavy force tribalism, cronyism and religious bigotry all in the name of connection Power.
But I digress to explain the common eccentricity. In ideal cases in our clime Relationship is the most potent. This differs from connection of mere acquaintance to a credible sponsor of repute but having a relationship with someone who can plead your case even in absentia.
Read 32 tweets
“Firstly, @ProfOsinbajo does not personally distribute money during his visits to the markets. He goes there to assess the progress of the implementation and to create awareness for a prog designed to meet the financing need of 2m petty traders across the country" @akandeoj
“Secondly, while one will not bother to further address the issue of timing of the implementation since such issues are now known to be political posturing, it's important to note that #TraderMoni is being actively implemented across all states and the FCT." @akandeoj
“These petty traders at the bottom of the economic ladder, with an inventory of < N5k, are beneficiaries of #TraderMoni which provides N10k collateral/interest-free loans, empowerment that improves their small biz, their families, while contributing significantly to the economy"
Read 5 tweets
Is #TraderMoni and #MarketMoni a vote buying scheme? Don't take my words for it, read what the COO of GEEP @uzonwagba says about it.
"First the GEEP program started in 2016, so this is our third year of operation. Our first loan registration was in May 2016. Since then we have been running the GEEP program nonstop across the country. Also we must note that it is the direct field learnings while implementing...
...#MarketMoni that led to the introduction of the #TraderMoni which started as a mobile-based loan product and kicked off in Sept 2017. The point is that GEEP didn't start in election season. Very far from it. As at Nov 2017... we had disbursed over 300,000 loans" @uzonwagba
Read 10 tweets
So yesterday, I read this article shared by our egbon @Olusegunverdict and I registered my personal opinion as a Nigerian.
Today, I hope to compile everything I said in a thread for easy accessibility.
#MyRebuttalToHisVerdict issa thread👇👇leggooo🕺🕺🕺
This may take a little time, the reason is simply because I might have to be away from my PC once in a while to attend to some network issues (Na that one dey feed my family for now😜😜😜).
But as much as I can update this thread, I will be quick to do so #MyRebuttalToHisVerdict
No, any view to any article or thread by anybody is not personal & that does not reduce the regards we have for those we look up to.
Just that during election season like this, we must all come to a conclusion that the best of men, are still men at their best. We can disagree!
Read 90 tweets
What is this #GEEP program really about?

GEEP is a microcredit prog that provides much-needed capital to traders, artisans, farmers, petty traders. It's one of the social intervention progs of the FG and comprises of 3 products: MarketMoni, FarmerMoni, and TraderMoni. @uzonwagba
"GEEP was initiated in 2016 by the FG; with an understanding that there are over 30m Nigerians at the base of the pyramid who are in active commercial activity but never have an opportunity to access credit. In 2017, only 0.04% of bank loans went to this micro segment" @uzonwagba
"These hardworking Nigerians are not “interesting” to the traditional lenders: they've little to no financial track record, they've no collateral, some barely have formal identities. However, they're actively trading and in dire need of capital." - @uzonwagba
Read 65 tweets
#tradermoni is a brilliant sentimental plan. It appeals to the poor and uneducated because they don't know any better. Sharing 10k to 5m people when 89m people live in extreme poverty makes no economic sense. that is 300m down the drain all in the name of poverty alleviation.
"At least this government is remembering the poor." No, they are not. They are taking advantage of their ignorance. There is nowhere in the world that poverty has been alleviated through the sharing of money as little as 28 dollars.
The poor aren't suffering from lack of 10k. They are suffering from a lack of power supply, rising prices, inadequate health care, education, etc. They are suffering from a hostile business environment which means the 10k won't even go far.
Read 4 tweets
@realvictorsam Victor, because you asked respectfully, I will respond to you respectfully as well. This will be in several tweets. So don't interrupt until I finish.

Now the FG has a prog called the Govt Enterprise and Empowerment Programme (GEEP) implemented by the Bank of Industry (BOI)
@realvictorsam GEEP has two pillers. First is called #MarketMoni and the second is called #TraderMoni. MarketMoni is a scheme for soft loans to small traders ranging from N10,000 - N100,000. You decide the amount you need whether N10,000, N20,000, N50,000 or N100,000.
@realvictorsam The repayment period is for 6 months and there is 5% admin fee. No interest is charged. There is even a two weeks grace period to pay back. Once you finish paying, you can apply for a higher value or the same value. That is basically left to you.
Read 17 tweets
In Nigeria, please NEVER assume that educated folks (even Professors) understand the basic statement they are arguing about especially in politics.
This person on facebook said Buhari admin has no #PolicyDirection, so I did a little tutorial as basic as possible for her👇
THREAD
#PolicyDirection
Thank you for raising a few issues, & such issues are enough for conversation. So let's use the Latin maxim in law you stated: Res ipsa loquitor...Let FACTS speak:

Don't take my words for it, don't run EMOTION on it, let's use the maxim Law: Res ipsa loquitor
#PolicyDirection
So let's start from the basis with FACT that Nigeria poverty didn't start in 2015.
Now you said "lack of policy direction in combating poverty and making economy boisterous"....
Read 27 tweets
Everyday you keep wailing #BuhariIsLifeless
Everyday you keep singing #BuhariWeyYourCertificate

But #LifelessBuhari is redeeming what others didn't do for 24 years..#BuhariPaysPension

The same Buhari for #TraderMoni #Npower #RailUpNg ##CashTransfer etc..

#BuhariIsMAD
Thread👇
Before Buhari came in 2015,
We never heard much of Yaradua, yet Jonathan was DORMANT...
Obasanjo was at loggerhead with Atiku..
Jonathan was as confused as his Sambo...

But Buhari gave Osinbajo free hands🙄🙄
#BuhariIsMAD
YES...
Buhari is.....
Making
A
Difference
😜😜😜
The same #LifelessBuhari, yet #PMBPaysPensions to those neglected for 16 years of OBJ/Atiku, Yaradua/Jonathan & Jonathan/Sambo..
Why didn't they play POLITICS & pay pensioners all through?
You see why I said #BuhariIsMAD he keeps clearing the past SHIT
💥Making
💥A
💥Difference
Read 8 tweets
HOW BUHARI FAILED, FIGHTING BOKO HARAM: FACTS & FIGURES
Are Nigerians less safer today from deadly insurgency than they were before change of government in 2015? Let's find out by reviewing key findings of unbiased global reports, which includes GLOBAL TERRORISM INDEX (GTI).
References shall include but not limited to:
1. CSIS|Patterns in Global Terrorism:1970-2016
2. Sixth Report on Violence (2016),
3. Global Terrorism Index (2012 - 2017) 4. Amnesty Int'l (1999 - 2017)
5. Open Doors (2016)
6. UN - Counter Terrorism Implementation Taskforce (2018)
Asides violence history of herdsmen referred to as Fulani Militants that has spanned more than two decades, advent of Boko haram which peaked in 2014 in Nigeria introduced grievous dimensions to insurgency, as explicitly documented by Global Terrorism Index, Sydney, Australia.
Read 25 tweets
What is @Trader_Moni ?
GEEP TraderMoni is a loan programme of the Federal Government, created specifically for petty traders and artisans across Nigeria... #TraderMoni
It is a part of the Government Enterprise and Empowerment Programme (@MarketMoni) scheme of the Federal Government, being executed by the Bank of Industry (@BOINigeria) ... #TraderMoni #TraderMoniFAQs
You get N10,000 as the first
loan. When you pay back the first loan, you immediately qualify for a second loan of N15,000. After payback of the second loan, you qualify for a N20,000 loan, and then N50,000, and then N100,000.. #TraderMoni #TraderMoniFAQs
Read 13 tweets
I've noticed a lot of outcry on this #TraderMoni and here is my view.
Thread!!!!!

The Trader Moni scheme is designed to help petty traders expand their trade through the provision of collateral free loans of starting with N10,000.
Trader Moni was launched in partnership with the Bank of Industry @BOINigeria in order to enlarge government’s “financial inclusion agenda down to the grassroots, the bottom of the ladder, considering the contribution of petty traders to economic development.
Under the scheme, beneficiaries can get access to a higher facility ranging from N15,000 to N50,000 when they repay N10,000 within the stipulated time period (6 months).

It is worthy to note that something similar to tradermoni has started in some developed countries years back
Read 17 tweets

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