Posted by News Express | 7 December 2018 | 1,053 times
Hoodlums invaded the Mandate Market in Ilorin, the Kwara State capital, on Thursday and scared away petty traders and TraderMoni officials and agents, thus disrupting the disbursement of money to beneficiaries of the scheme.
As early as 9am, the hoodlums stormed the Mandate Market, insisting that the TraderMoni scheme could not be conducted because Dr Olusola Saraki, father of the Senate President, Dr Bukola Saraki, donated the land to the state government to build the market. It was not clear whether they were sent by anyone or whether they were mere party zealots, working on their own.
According to witnesses, including Bank of Industry (BOI) officials who were at the market to supervise the enumeration and disbursement of the N10,000 collateral-free loans, the arrival of the mob at Mandate Market caused some uproar.
The thugs also intimidated the petty traders who had lined up to participate in the programme.
Many of the traders were palpably annoyed and refused to leave the market. Calm was restored with the arrival and intervention of the police.
At the Ipata Market, where enumeration and disbursement of the TraderMoni loans were also going on, market leaders reportedly rebuffed pressure from some officials of the state, urging them to shun the enumerators. The programme went on without incident.
Officials of the BOI told newsmen that enumeration had been going on in the two markets in Kwara State in the last few days, without incident until yesterday.
Vice President Yemi Osinbajo is expected in the markets on Friday December 7.
TraderMoni, which is part of the Federal Government’s Social Investment Programme (N-SIP) under GEEP, is designed to assist petty traders across the country expand their trade through the provision of N10,000 collateral and interest-free loans.
The loans are repayable over a period of six months at which point the traders will receive a fresh N15,000 loan, which rises to N20,000 when repaid.
The microcredit scheme, which has since been formally launched nationwide, including the Federal Capital Territory, is expected to reach two million petty traders by the end of the year.
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