FG Outsources Market Moni Scheme to Humanitarian Ministry


Olawale Ajimotokan in Abuja

The federal government has officially transferred the responsibility of managing the Market Moni and Trader Moni, which are the social intervention scheme under the Government Enterprise and Empowerment Programme to (GEEP) to the newly created Ministry of Humanitarian Affairs, Disaster Management and Social Development.

The interest-free loan programme, which was created specifically for petty traders and artisans across the country, used to be managed by the Office of the Vice President, Prof. Yemi Osinbajo.

The Minister of Humanitarian Affairs, Disaster Management and Social Development, Hajia Sadiya Umar Farouq confirmed yesterday that the management of the non-collateral social empowerment programme had been incorporated into her portfolio.

She made the revelation yesterday during her visit to the Command and Call Centres at the Bank of Industry (BOI), the bank that executes the social intervention scheme.

Farouq said she was impressed with the facilities at the centre, saying it will serve as a hub that is capable improving the lives of the beneficiaries.

She was accompanied on the visit to the centres by the Senior Special Adviser to the President on Social Investments, Mrs. Maryam Uwais.

The minister told the Chairman of BoI, Abdulahi Dikko, that the systems, processes and structure set up by the managing bank, the federal government intends to scale up the number of beneficiaries on the scheme from 2.5 million to five million per annum.

BOI officials managing the centre revealed that about 4,260,701 traders have been enumerated and data taken, out of which 2, 574,202 persons have verified through GPS coordinates.

Also the bank said N19.6 billion has disbursed for 1, 957,208 persons on Tradermoni scheme.