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Apply Now: How To Get Up to N100,000 From The Federal Government’s TraderMoni Loan Programme

Are you a petty trader or artisan in Nigeria and looking for funds to boost your business? If yes then this article is for you, please read further to discover how to can get upto a N100,000 TraderMoni loan from the federal government of Nigeria TraderMoni to support your business.

TraderMoni is an interest free loan programme of the Federal Government of Nigeria, created specifically for petty traders and artisans across Nigeria. It is a part of the Government Enterprise and Empowerment Programme (GEEP) scheme of the Federal Government, being executed by the Bank of Industry. With TraderMoni, you can receive interest-free loans starting from N10,000 and growing all the way to N100,000 as you pay back.

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. With TraderMoni, the Federal Government wants to change your level by providing continuous loans for your petty business, making each loan bigger to enable you to grow.

Is N10,000 the minimum Amount I can Collect?

NO. The money grows as you pay back! You can get up to N100,000. Once you use the N10,000 well and pay back, you get N15,000, and then N20,000, and then N50,000, and then N100,000. Getting the next Tradermoni loan is automatic! As soon as you pay back any loan within 3 months, you dial a code on your phone and you the next higher loan immediately.

How many States in Nigeria will get the loan?

By the end of 2018, the Federal Government targets to disburse 2 million TraderMoni loans across all 36 states and the FCT. Each state will receive a minimum of 30,000 loans.The loan is only being administered by BOI, being a bank with the structures and processes to reach out applicants.

How long do I have to pay back the Loan

By the end of 2018, the Federal Government targets to disburse 2 million TraderMoni loans across all 36 states and the FCT. Each state will receive a minimum of 30,000 loans.The loan is only being administered by BOI, being a bank with the structures and processes to reach out applicants.

Do I Need a Bank Account To Access Tradermoni Loan?

By the end of 2018, the Federal Government targets to disburse 2 million TraderMoni loans across all 36 states and the FCT. Each state will receive a minimum of 30,000 loans.The loan is only being administered by BOI, being a bank with the structures and processes to reach out applicants.

Why is Government Providing TraderMoni

Federal Government understands the plight of the over 20 million Nigerians in petty business and in dire need of capital to grow their businesses. These Nigerians rarely have bank accounts, and are usually not “interesting” or “profitable” to traditional lenders. They cannot access loans to trade, and they therefore remain in a cycle of poverty. Federal Government is on a mission to break this poverty cycle. TraderMoni can ease your “business cash” problems and make your life better. Is TraderMoni a BOI loan? NO. TraderMoni is a loan from the Federal Government of Nigeria. The loan is only being administered by BOI, being a bank with the structures and processes to reach out applicants and deliver loans at large scale.

Who is Eligible for TraderMoni Loan

If you are a petty trader or artisan in Nigeria, and N10,000 can help your business today, then you are eligible for TraderMoni! For example, if you are a small kiosk owner, food stuff seller, bread seller, mai shai, wheel barrow pusher, mobile tailor, mobile cobbler, fruits seller, keke rider, etc, TraderMoni is here to help your business to get to the next level.

How To Apply For TraderMoni

  • To begin application below is the Requirements for Trader Moni
  • Applicants must be 18 years and above
  • Applicants must be a business owner or a trader
  • Applicants must be a Nigerian
  • Applicants must belong to a market cooperative union in your location
  • Applicants must have a valid BVN
  • Applicants must have a valid identification
  • Applicants must have a valid SIM/phone number that is register with the service providers.
  • If you meet requirement, then you can go ahead to start the application.
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All You Need To Know About TraderMoni

Are you looking for Trader Moni 2021 Registration Portal? or How to Apply For Trader Moni Loan In Nigeria then follow the steps below here. The federal government of Nigeria, has rolled out a new soft loan scheme aimed at funding micro businesses in the country. The scheme to be called Trader Moni is meant to help very small scale traders easily get loans without collateral in Nigeria for the purpose of expanding their small businesses.

The new initiative was launched under the Government Enterprise and Empowerment Programme (GEEP) in partnership with the Bank of Industry (BOI).

MarketMoni is an Enterprise and Empowerment Programme (GEEP) created to provide financial aid for the under-banked and unbanked. This objective is being achieved by providing easy and quick loans at no interest rate.

Here is what you need to know to access a MarketMoni loan:

First, you must have a BVNNext, you must belong to an accredited market association or cooperative registered in your state or with the CAC. Third, your association or cooperative must indicate its interest in MarketMoni by submitting its information to BOI including its certificate of registration. You may either visit www.boi.ng/marketreg, call 0700-CALL-BOI (which is 0700-225-5264), visit any BOI office in the country, or go through your assigned State Focal Person to register your cooperative’s interest in MarketMoni. If your association or cooperative qualifies, a MarketMoni agent would be sent to your group promptly to capture your members for loan assessment.

Unlike the existing Government Enterprise and Empowerment Programme (GEEP) Market Moni loan scheme, which targets market women, traders, artisans and enterprising youths, the TraderMoni is a micro-credit scheme to cater for ultra-micro enterprises.

Qualified registrants to MarketMoni will receive an electronic loan offer on your mobile device after which you receive loan disbursement in a matter of days!

Micro, Small and Medium businesses are the bedrock of the Nigerian .
The facts are clear: Nigerian has over 77 million MSMEs today, employing over 60 million of our people and contributing about 85% of our labor force in the country. In its resolve to support and accelerate economic activity of MSMEs, the Federal Government has established MarketMoni.

MarketMoni, also known as the Government Enterprise and Empowerment Program (GEEP), issues interest-free loans to market women and traders, artisans, youth and . It one of the social intervention programs of the Federal Government, and is being executed by the Bank of Industry. MarketMoni has kicked of disbursements to its early set of beneficiaries is expanding across the country.READ   for Personal Assistant (Male) at FOAK Business Solutions Limited

Beneficiaries receive loans ranging from N10,000 to N100,000 per applicant for as long as 6 months. MarketMoni attracts no interest except a one-time 5% administrative fee. So far over 24,000 beneficiaries have accessed MarketMoni.

And the testimonies are rolling in from beneficiaries all over the country!

The Federal Government believes in the inherent capacity of every Nigerian; young or old, literate or illiterate to contribute immensely to the country’s economy. And so, the Federal Government is focused on economic empowerment of its people. The Federal Government identifies with Nigerians working hard to keep their businesses afloat, and will continue to expand economic opportunity for every-day Nigerians.

It commenced in December 2020. So far, BOI has recorded thousands of beneficiaries, working through a network of over market moni 5,000 agents, in all states of the federation.

GEEP MarketMoni directly impacts traders, market women, artisans, and farmers nationwide.

Beneficiaries typically belong to an accredited market association or cooperative group registered with their state’s Corporate Affairs Commission. They are required to own a bank account, a bank verification number and a mobile phone.

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The loan, which only attracts a five per cent one-time administrative charge, is repayable within a period of six months, with two weeks grace period.

GEEP MarketMoni is the most ambitious microcredit scheme in the history of Nigeria, and the largest in Africa.

GEEP Market Moni 2021 Loan Requirements

  • You must belong to a registered and accredited market association, cooperative or trade group
  • You must have a valid BVN.
  • Your market association, cooperative or trade group must nominate you for a loan and must be willing to stand in as your guarantor.
  • Your market association, cooperative or trade group must be registered with BOI
  • You must have a business location which will be verified by MarketMoni agents.

Speaking at the unveiling of ‘Trader Moni’ initiative at Ojuwoye market in Lagos, the Executive Director, Bank of Industry, Toyin Adeniji said that the programme which is activated nationwide will support 2 million Nigerians to grow their business by having access to loan in Nigeria irrespective of the status or level of education.

She disclosed that the goal of the scheme was to take financial inclusion down to the grass root whereby pure water seller, bread seller, food seller, okada rider among others can access loan without collateral in Nigeria to expand their business.

She stated: “This ‘Trader Moni’ initiative is a mobile phone driven, after your details have been captured by agent and send to BoI system for validation, within 48 hours you will get cash notification in your mobile wallet account. You can either transfer the cash to your bank account or cash it out in any mobile money agent around.READ   for Marketing Executive at Sterling Asset Management & Trustees Limited

“At the beginning you can access N10,000 and pay back N10,250 to qualify for N15,000. Once you payback N15,375 you will qualify for N20,000 loan, when you pay back N21,000 you will get N50,000. All these stages have duration of six months interval to pay back.”

The bank’s chief stated that BoI was in partnership with other banks such as Fidelity Bank, Wema Bank, GTBank, UBA, Heritage Bank, Stanbic Bank, Sterling Bank, Union Bank and Jaiz Bank to make paying back the loans easier. The trader just needs to visit any of the banks or key in with a BoI-GEEP agent to pay direct. Repayments can be made to BOI-GEEP loan account under PayDirect at banks.

Chief Operating Officer of GEEP, Mr. Uzoma Nwagba, said there are other products such as the ‘Farmers Moni’, which provides farmers the opportunity to access loans up to N300,000. Also, there is ‘Market Moni’, which issues interest-free loans between N50,000 and N100,000 to market women, traders and artisans that are a bit bigger and more structured. These products are available nationwide. He urged beneficiaries to do their best to pay back the loans so that others can get the opportunity to benefit from the programme.

NB : If you fail to repay the loan, your beneficiary’s Bank Verification Number  (BVN) might be blocked.

How To Apply For 2021 GEEP Market Moni Loan In Nigeria

Before you can apply for GEEP market moni loan in Nigeria, you must belong to an accredited market association or cooperative registered in your state or with the CAC. Your association or cooperative must indicate its interest in MarketMoni by submitting its information to BOI including its certificate of registration.

If your association or cooperative qualifies, a MarketMoni agent would be sent to your group promptly to capture your members for loan assessment.

You can submit GEEP market money loan application through the MarketMoni web portal ( http://www.marketmoni.com.ng) and you can also make us of paper market moni registration forms.

The agent will capture your details which will include :

  • your full name
  • date of birth
  • gender
  • home address
  • phone number
  • email address
  • geo political zone
  • trader type
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Trader type could be :

  • Food Stuff Vendor
  • Product vendor
  • Telcom Service Vendor
  • Clothing and Wears Vendor
  • Other Product/Service Vendor

After you complete your trader moni application, you will have to wait for a text message from trader moni. If you qualify, you will receive a text message with a code you will dial to get the funds.READ  Recent Vacancies at Zenith Care Hospital.

How To Transfer Trader Moni To Bank Account

You can use eyowo mobile app to transfer trader moni to your bank account. You can download eyowo app from Google play store (for Android) or Apple app store (for iPhone, iPad). If you are not connected to the internet or you don’t own a smartphone or you simply prefer using USSD for transactions, simply dial *4255# and follow the prompts.

How To Pay Back Trader Moni Loan

The TraderMoni loan is designed for payback within the 6months to enable access for others. It is important that you apply for an amount you can repay comfortably over 6 months.

To repay your TraderMoni Loan, walk into any of the following banks, GTB, UBA, Ecobank, UnionBank, Stanbic, Sterling, Wema, Fidelity, Heritage, Jaiz.

As soon as you pay back, you can apply for trader moni loan of higher amount.

At the beginning you can access N10,000 and pay back N10,250 to qualify for N15,000. Once you payback N15,375 you will qualify for N20,000 loan, when you pay back N21,000 you will get N50,000. All these stages have duration of six months interval to pay back.”

How To Find Trader Moni 2021 Registration Agents

You can check trader moni website for the contact of their agents across Nigeria. You can also ask @trader_moni on

Trader Moni 2021 Registration Loan Terms

  • Loan Tenor: 6 Months
  • Administrative Fee of 2.5% (No other charges).

Market Moni Registration Form

You can fill the market moni registration form at MarketMoni website. >> http://marketmoni.com.ng/

Trader Moni 2021 Registration Agents In Nigeria

You can view the list of market money agents per state in Nigeria at :  http://marketmoni.com.ng/agent-network/

NB: GEEP Market moni is different from Trader Moni Initiative. TraderMoni gives you access to loan up to N50,000 while MarketMoni gives you up to N100,000 loan

How to Apply for Trader Moni loan via the Tradermoni website below.

Apply Here

Important Notes

  • The above statements are intended to describe the general nature and level of work to be performed by people assigned to this job.
    They are not to be construed as an exhaustive list of all responsibilities, duties and skills required of personnel so classified.
    All personnel may be required to perform other responsibilities in addition to those specified from time to time, as needed
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    • Our people are all equally gifted in unique ways: we come from diverse traditions, personal experiences and points of view. And we want to include yours, Are you ready to inspire us with your ideas?
    • We encourage all applicants to apply and does not practice any discrimination in any recruitment process.
    • Applications submitted after the deadline will not be considered.
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