Laolu Akande: PVC not condition for N10,000 loan


Laolu Akande, senior special assistant to the vice-president on media and publicity, says it is untrue that beneficiaries of the federal government’s Trademoi, N10,000 collateral-free loan, must present their permanent voters cards (PVC), to qualify for the scheme.

Akande said this while giving update on the initiative.

He said no documentation of any kind is required before one is qualified for the loan.

“The petty traders are not required to show PVC, or any document for that matter, they are only expected to show they are petty traders and this is why the enumeration is done in the markets and wherever the traders ply their trades,” he said.

He added that the President Muhammadu Buhari administration would intensify its efforts to empower more Nigerians with collateral-free loans.

The presidential media aide explained that that the credit scheme was part of the social investment programme of the administration which started in 2016.

“The petty traders whose trades and lives are being positively impacted as they receive the N10,000 are telling a different story from those making political insinuations. And it is their stories that inspire us,” he said.

“Nigerians already know that the Buhari Administration is one that is projecting the interests of the common man, Nigerians who are at the lower rungs, and this is not a new perception at all.”

Akande said the interest-free loans which have been launched in eight states, including the federal capital territory, would be extended to more states.

He said the micro-credit scheme has been introduced in Lagos, Kano, Abia, Akwa Ibom, Katsina, Osun, FCT, and Kogi, adding that  it would get to Oyo, Cross Rivers, and Kaduna States this week