Trader Moni Federal Government loan scheme – Want to know the steps to apply for the Federal Government Trader Moni or Market Moni loan scheme. Then read on.
The Federal Government Loan Trader Moni 2018/2019 batch has commenced. Application forms are now available online. Apart from the online version, it has also kicked off physically in locations like Abuja, Lagos and Osun State (Others to join soon)
The Trader Moni or Market Moni is a loan scheme put in place by the Federal Government for all who are interested. Want to know more about this scheme, do read on.
Trader Moni Federal Government loan scheme
What is Trader Moni?
The Trader Moni scheme is a scheme designed to help traders expand their trade through the availability of loans from N10,000. This scheme launched early this month in several locations across Nigeria is made reality by the Bank of Industry. This is done in partnership with the Federal Government, Dangote Foundation and CBN.
The objective of this scheme is to bring finance and its benefits to the grassroots towards economic development. With this scheme, beneficiaries can ger access to funds from N15,000 to N50,000 and repay N10,000 within the time as stipulated which is six months.
Requirements for the Market Moni/Trader Mon FG loan Scheme 2018/2019
- You must be a Nigerian citizen and aged 18 or older
- A business owner or trader
- Be an active member within any market cooperation union within your location
- Have a valid means of identification
- Must possess a valid BVN
- Must have a valid SIM/phone number properly registered under your name with any of the service providers (MTN, 9moblie, Airtel, Glo etc)
How to Apply for the 2018/2019 Federal Government Scheme Trader Moni or Market Moni
You may either visit the physical locations for the registration but the online platform is made available for all who cannot initially go to the Bank of Industry(BOI) centers. Using the Online application will shorten the initial process before going to the Bank of Industry to complete the process.
The portal also gives you access to upload your documents and find access to the preferred BOI State office where you can finish your processing.
***Conditions with regards to the application
To ensure that participation is not open for scammers, the amount of money to be received on first application is placed at a flat N10,000. if you pay on time, within the next six months, you will be eligible to receive the next N15,000
All you have to do is wait for the turn of your state to receive the loan. Lagos, Kaduna, Abuja and Osun are already in progress.
Steps to begin the online Market Moni or trader Moni application
To use the website for your application, simply use the steps below:
- Visit the website, www.boi.ng
- Navigate the page and click the “Apply for loan now” button
- Next, select “Register here”
- Provide the correct informations about yourself. (Name, phone number, email etc)
- A verification link and tracking code will then be sent to the email you provided
- Now click on the verification link to log in.
- Once logged in, complete the application form, save and click on “continue”
- You will be sent an email confirming that the application has been received
- Subsequently, you will be informed of the next step, you should take.
And there you have it a complete guide into how you can register for this federal Government scheme. if you have any difficulties, you can call the BOI Customer care at this number(+234) 0700-CALL-BOI or you can visit the BOI website to find out more.
Do let us know about your experiences via the physical or online application portals