TRADER MONEY: Beneficiaries Not Willing to Repay Loans in Kwara, NSIP Alleges

Hajia Bashirah AbdulRazaq-Sanusi the Kwara State Focal Person for the National Social Investment Programme (NSIP), on Wednesday alleged that the beneficiaries of ‘Trader Moni,’ are reluctant to repay the loan.

She explained that about 10,000 people benefitted from “Trader Moni” programme in the state with over N1.3bn disbursed to them.

While lamenting the reluctance of the beneficiaries to repay the loan, the Kwara State focal person noted that “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 further explained that the program which was flagged off by Vice President Yemi Osinbajo in 2019 was designed to provide soft loans to boost small scale businesses in the markets.

The program was designed to support women with N10,000 as soft loans to be paid back, after which they would enjoy the next stage of N50,000.

She bemoaned that over 15,000 beneficiaries of N-Power Programme were showing nonchalant attitude to the state government programme of reabsorbing them into the MDAs.

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