Trader Moni beneficiaries refuse to repay loan

Beneficiaries of ‘Trader Moni,’ one of the programmes of the Federal government’s National Social Investment Programme designed to reduce poverty in Nigeria are reluctant to repay the loan.

The Kwara State Focal Person for the NSIP, Hajia Bashirah Abdulrazaq-Sanusi, stated this on Wednesday.

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

She, however, lamented that the people were not willing to repay the loan.

Majority of Nigerians especially the beneficiaries see the scheme as a scam, they believe that Vice-President Osinbajo & Co got what they wanted from it.

It was a thinly disguised vote buying shenanigan and the people delivered the votes so they don’t see any reason to repay especially with the government increasing the price of petrol, electricity, VAT and other taxes.

“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.

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