The Federal Government has introduced the ‘Trader Moni’ programme in partnership with the Jigawa State Government and Unity Bank Plc with the initial sum of N300m.
The bank said in a statement that with a total of N1.5bn earmarked for it, the scheme was meant to accelerate an on-lending through Unity Bank to about 35,000 Jigawa petty traders.
It stated that Vice President Yemi Osinbajo, who was in Jigawa for the launch of ‘Market Moni’, presented the Unity Bank cheque through the Chairman, Jigawa State Chamber of Commerce Mines and Agriculture, Alhaji Shehu Sunusi.
The Regional Manager, Unity Bank in Jigawa State, Mustapha Baba, said the bank was in good stead to facilitate the massive on-lending scheme to the benefit of Jigawa petty traders.
It noted that the Federal Government, through the Bank of Industry and the Government Enterprise and Empowerment Programme, recently launched Trader Moni in Lagos to enable traders access loans of up to N10,000 at the first instance.
Mustapha stated that farming equipment such as tractors and planters would be distributed to farmers in the state.
According to the statement, the Unity Bank cheque of N300m, presented by Osinbajo to JICCIMA on behalf of the state government, is at zero per cent interest rate.