The federal government of Nigeria in partnership with the Bank of Industry popularly known as BOI and Government Enterprise and Empowerment Programme (GEEP) has come up with an idea that will seek to provide a free collateral interest loan to traders across the federation.
About 0% Bank of Industry loan (BOI)
- 1 About 0% Bank of Industry loan (BOI)
- 2 Requirements Involve to get Bank of Industry Loan 2022/2023
- 3 trader moni via Bank Of Industry loan
- 4 How does the trader moni program works ?
- 5 How long will the loan last (trader moni )
- 6 Who are illegible for trader’ moni-Requirements for moni FG loan
- 7 How to apply for trader moni via agent
- 8 How to apply for trader moni via BOI portal
- 9 How To Transfer Trader Moni To Bank Account
- 10 How To Pay Back Trader Moni Loan
- 11 Closing date for trader moni
This news is for those who are of age between 18 to 40 who are interested in loan from Bank of Industry at a zero (0)% interest rate.
The Bank of Industry aim is to create a more friendly business environment for youth who are between this age bracket irrespective of their educational background.
Are you aware that the Bank of Industry has decided to assist and help the average Nigerian with a loan of up to 11 billion naira which is the total set aside loan for the project?
Well in case you don’t have an idea, the loan has been tagged “The 0% Entrepreneurship Fund”.
- This fund is aimed at helping the average Nigerians set up their own business.
- Rather than becoming job seekers the plan of the government is to create more employers of Labour that will help absorb the intimidating number of unemployed in the society.
- This 0% Entrepreneurship Fund is meant to be use primarily for the purpose of what its meant for and nothing more or less.
Requirements Involve to get Bank of Industry Loan 2022/2023
- Get your statement of account and this should not be less than 6 months
- Get financial Auditors to audit your company and present a 3 month report ( existing company)
- Your business should be registered/Incorporated,you can photocopy this document.
- Another document is the Memorandum and Articles of Association of your proposed company, this must be photocopied along side.
- Three (3) years most recent Tax Clearance Certificate for the Company and two (2) Directors.
- Quote the amount, prices of the equipment you want to procure.
- Present on paper how your company is structured.
- Having any liability? Then you need to declare it.
- Completed copy of Bank of Industry Questionnaire.
- Get your passport photographs of about 8 in number.
trader moni via Bank Of Industry loan
The project was code named “trader moni ” and was first launch in Iwo which is a town in Oyo state south west, Nigeria
The aim and objective of this wonderful initiative is to help traders mostly those who engage in petty trading to not only provide them with free interest loan but to also help boast their businesses.
Note: trader’s moni is just part of of the federal government of Nigeria social intervention program which is aim at helping the most venerable Nigeria irrespective of their religion and political affiliation. In other words trader’ moni is just a people’s welfare program aim at mostly market men and women.
How does the trader moni program works ?
Once you register or apply for the program you will be qualify to receive 10,000 naira free interest loan, one of the beauty of this loan is that you don’t need any collateral or guarantor before you can access it.
The federal government has also promise to provide those who where able to repay this loan with additional 15,000 naira only.
How long will the loan last (trader moni )
You are expected to use this money to expand your business and you will be given a free hand for a period of 6 months, no one will knock on your door through out this period.
Those who are able to refund back the money will be given additional 15,000 extra.
Who are illegible for trader’ moni-Requirements for moni FG loan
Before you will be able to apply and also qualify for this loan you must meet certain requirements laid down by the government, don’t be scared its just to make sure the money gets to the right people
- Trader’ moni are meant for Nigerians, so you must be a NIGERIAN
- The age limit remains 18 and above
- You must either be a petty trader or a market woman
- artisans too are qualified to apply
- your business must be located in Nigeria as the program aims to only grow small scale business in Nigeria.
- Applicant should have a bank account
- Valid means of identification is a must this must include a mobile phone number and BVB
- Finally it is important you belong to an association in the market or your business center
How to apply for trader moni via agent
Walk up to the nearest trader moni agent closer to you in your state or locality.
You are meant to provide the following details below to ensure a smooth registration process :
- your full name
- date of birth
- home address
- phone number
- email address
- geo political zone
- trader type
Trader type could be :
- Food Stuff Vendor
- Product vendor
- Telcom Service Vendor
- Clothing and Wears Vendor
- Other Product/Service Vendor
So when you are going for the registration make sure you have all this details at hand, if you fail to provide any of them that suit your line of business you might not been consider eligible.
Immediately you successfully register for this program and your application is successful, a code will be sent to your device from Abuja, you are expected to dial this code to get your fund.
How to apply for trader moni via BOI portal
A portal has been enabled to allow traders apply direct with out going through agent.
Note that you will be mandated to submit some documents, so make sure you have scanner close by.
- The official portal is www.boi.ng
- When the portal loads click on “Apply for loan now”
- Wait for the system to load, click on “register here” to create a new account
- Input your email address and other details correctly, they will send a tracking code and also a verification code to your mail, make sure you click on it
- After click on the link a form will appear, just fill it accordingly then submit
- At this stage a confirmation receipt will be sent to you.
How To Transfer Trader Moni To Bank Account
A USSD code has been made enable all you need to do is to dial the code on the phone you used in registering for the program the follow the command that comes after. The code is *4255#
Those who are on Android phone or iPhone are advised to download an app called eyowo mobile app with this app your money can be transferred straight into your bank account.
How To Pay Back Trader Moni Loan
Please note that this money is not a dash lol, you are expected to pay the money back within 6 months.
This are the banks where you are to pay the money :
Walk up to any of this bank closer to you, meet the customer reps tell him or her what you came for.
Please note that : from the inception you will be given N10,000 and you are expected to pay back N10,250 which will grant you access to N15,000. Once you payback N15,375 you be moved to another level where you receive N20,000 loan, when you pay back N21,000 you will get almost triple which is N50,000. So what are you waiting for?
Closing date for trader moni
At the time of writing this article the program is still on and it’s expected to run till 2020/2021.
Abia State Trader/Market Moni Agent
Adamawa State Trader/Market Moni Agent
Akwa-Ibom State Trader/Market Moni Agent
Anambra State Trader/Market Moni Agent
Bauchi State Trader/Market Moni Agent
Bayelsa State Trader/Market Moni Agent
Benue State Trader/Market Moni Agent
Borno State Trader/Market Moni Agent
Cross-River State Trader/Market Moni Agent
Delta State Trader/Market Moni Agent
Ebonyi State Trader/Market Moni Agent
Edo State Trader/Market Moni Agent
Ekiti State Trader/Market Moni Agent
Enugu State Trader/Market Moni Agent
Gombe State Trader/Market Moni Agent
Imo State Trader/Market Moni Agent
Jigawa State Trader/Market Moni Agent
Kaduna State Trader/Market Moni Agent
Kano State Trader/Market Moni Agent
Kastina State Trader/Market Moni Agent
Kebbi State Trader/Market Moni Agent
Kogi State Trader/Market Moni Agent
Kwara State Trader/Market Moni Agent
Lagos State Trader/Market Moni Agent
Nasarawa State Trader/Market Moni Agent
Niger State Trader/Market Moni Agent
Ogun State Trader/Market Moni Agent
Ondo State Trader/Market Moni Agent
Osun State Trader/Market Moni Agent
Oyo State Trader/Market Moni Agent
Plateau State Trader/Market Moni Agent
Rivers State Trader/Market Moni Agent
Sokoto State Trader/Market Moni Agent
Taraba State Trader/Market Moni Agent
Yobe State Trader/Market Moni Agent
Zamfara State Trader/Market Moni Agent
FCT, Abuja Trader/Market Moni Agent
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