President Buhari orders Suspension of Repayment Of TraderMoni Loans

President Muhammadu Buhari has ordered a three-month suspension on repayment of loans for TraderMoni, MarketMoni and FarmerMoni by beneficiaries as relief efforts to tackle the Covid-19 impact on the Nigerian economy.
 
Speaking during a presidential nationwide broadcast on Sunday, the President directed that the suspension of other Federal Government loans be done with immediate effect. He saisd:

 

“I have directed that a three-month repayment moratorium for all TraderMoni, MarketMoni and FarmerMoni loans be implemented with immediate effect.

“I have also directed that a similar moratorium be given to all Federal Government funded loans issued by the Bank of Industry, Bank of Agriculture and the Nigeria Export-Import Bank.

“For on-lending facilities using capital from international and multilateral development partners, I have directed our development financial institutions to engage these development partners and negotiate concessions to ease the pains of the borrowers.”

 


He also urged the ministry to work with the affected state government without compromising the social distancing policies in the states.


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