‘Beneficiaries think TraderMoni is national cake, unwilling to repay loans’
Bashirah Abdulrazaq-Sanusi, Kwara state focal person for the National Social Investment Programme (NSIP), says some beneficiaries of TraderMoni are reluctant to repay loans.
Abdulrazaq-Sanusi disclosed on Wednesday that about 10,000 people benefited from the programme in the state with over N1.3bn disbursed to them.
The TraderMoni programme, which was launched in 2018, is designed to provide soft loans of N10,000 to boost small scale businesses.
The programme was formerly managed by the office of Vice-President Yemi Osinbajo.
According to the PUNCH, Abdulrazaq-Sanusi said some of the beneficiaries treat the loan as “national cake” and are unwilling to pay back.
She also said there are no contact record of some beneficiaries, making it difficult to track them.
“Poor masses are not ready to repay the loan after collection because of the attitude of Nigerians to anything from the government, thinking it is national cake. Also, those that disbursed the money do not have records of beneficiaries like phone numbers and addresses, thus, making it difficult to track them for repayment,” Abdulrazaq-Sanusi said.
She also said following the termination of N-Power rogramme by the federal government in July, the Kwara state government replicated the youth empowerment programme in the state, codenamed K-Power, in order not to throw beneficiaries into the labour market after exiting N-Power.
But she added that some N-Power beneficiaries were showing “lukewarm attitude” to being reabsorbed into the state’s ministries, departments and agencies (MDAs).
This is terrible and unacceptable. They set up a scheme to alleviate your sufferings and you move to take advantage of that gesture? Nigerians smh
I think the person’s in charge of the beneficiaries in the state have failed to take record of the people that gets the loan cause before the loan was given out full details was taken from them like their BVN, Name,, Phone numbers and other things.
This not the fault of anyone nor the Vice President it is the traders that don’t want to pay back forgetting how the money helped them.
Beneficiaries forgot that it has record and their BVN is attached to it, so TraderMoni is not a national cake
NIGERIANS need to change this perverse and distorted sense of entitlements. It’s nothing but a clear poverty mentality that must be cured if the nation has to move forward. TraderMoni programme was a CREDIT (LOAN) not a share of the national cake. Besides, the notion that no records of the beneficiaries was taken by those who disbursed the loans should be corrected. How can you say someone into who’s bank account money was transferred, and who has BVN is untraceable?
When you borrow #10000 and you don’t pay back, you wouldn’t have the opportunity of borrowing a higher amount. This is the reason the poor remain poor.
TraderMoni is loan, i just know that the FG is doing his best.
I think we need to change our orientation as Nigerians as touching any government assistance. We should not be thinking that any time we have opportunities to be at government office it is for embezzlement or to steal public fund. Nigerians need National Rebirth. God will help us
It’s a pity how Nigerians think. If everyone is doing this, how will the nation develop
This is a very impactful program by the FG and Nigerians should endeavor to pay back in order to qualify for the next loan level. The socioeconomic program like we all know has significantly helped lots of household and has been recognised globally by winning awards.
There is no way the beneficiaries will think such way because they know all their records have been taken, and even if they try that they will be the one at lost not the government.Because is whn you pay the first one that you will be able to get more than what you received the first time.