The spokesperson of the National Social Investment Programme (NSIP) in Kwara State, Bashirah Abdulrazaq-Sanusi, has come out to say that some beneficiaries of TraderMoni are reluctant to repay loans.
She stated that well over N1.3billion was disbursed to about 10,000 people from the programme in the state.
She said some of the beneficiaries believe the loan is their share of the “national cake” and hence are reluctant to repay.
She however came out to say that matters have been made worse by the fact that there are no contact records of some of the beneficiaries, making it difficult to track them.
Abdulrazaq-Sanusi said 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,”
You would recall that the TraderMoni programme, was launched in 2018 by the Vice President, Yemi Osinbajo. The programme according to the VP, was designed to provide soft loans of N10,000 to boost small scale businesses.