Trader Moni: Beneficiaries refuse to repay loans, says it’s their share of national cake
Beneficiaries of ‘Trader Moni,’ an initiative under the Federal government’s National Social Investment Programme aimed at reducing poverty in Nigeria are unwilling to repay the loan, Daily Times gathered.
The information was disclosed by the Kwara State Focal Person for the NSIP, Hajia Bashirah Abdulrazaq-Sanusi, on Wednesday.
She said that about 10,000 people benefitted from “Trader Moni” programme in the state with over ₦1.3bn disbursed to them, lamenting that the people were not willing to repay the loan.
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“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.
The programme was flagged off by Vice-President Yemi Osinbajo in 2019 to support women with ₦10,000 as soft loans to be paid back, after which they would enjoy the next stage of ₦50,000.
Similarly, Abdulrazaq-Sanusi lamented that over 15,000 beneficiaries of N-Power Programme were reluctant to the state government programme of reabsorbing them into the MDAs.
She said following the termination of N-Power Programme by the Federal government in July this year, 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.
