FG Demands PVCs From Traders To Access Loan

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Federal government is requesting traders   to present their Voter Identification Number (VIN) before being granted its collateral free loan (Trader Moni)..

Also demanded as a condition to access the loan by the traders is a Permanent Voter Card Number and Bank Verification Number.

Announcing the loan initiative development on Sunday, the Senior Special Assistant to Acting President Yemi Osinbajo on Media and Publicity, Mr Laolu Akande, explained that the scheme, which was inaugurated last week, would grant a minimum of 30,000 loans in each state of the federation and the Federal Capital Territory

He said the  loan initiative which will run between now and the end of the year, is geared towards enlarging the Buhari-led administration’s financial inclusion agenda for all Nigerians, regardless of social class and economic status.

Akande said that 2 million traders were expected to access to the loan by the end of the year, with petty traders in Lagos, Kano and Abia states set to be the first round of beneficiaries to draw the collateral-free loans.

“In addition to the 30,000 loans per state, states with a larger population like Lagos and Kano are expected to get more than 30,000 loans,” he said.

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