Trader Moni is a non-interest loan organized by the Federal Government of Nigeria in order to support the growth of small and medium-sized businesses. Trader Moni could also be referred to as TraderMoni or Trader money. It is a non-interest loan because it is targeted at petty traders who require small capital to startup or grow their businesses. It is a part of the Government Enterprise and Empowerment Programme (GEEP) which is executed by the Bank of Industry, and requires no collateral nor any interest.


This Trader Moni was initiated by the Federal Government after analysing the limitations encountered by small businesses, and in order to foster participation and effort encouragement, this loan was generated. The fame of this loan started when the Vice President of the country, in person of Prof. Yemi Osinbajo was seen disbursing loans to traders on his visit to the markets.


The Importance of Trader Moni


Looking around this nation Nigeria, it could be seen that unemployment is one of the major issues being faced, and in order to reduce the unemployment rate, many people are venturing into small-scale businesses but the major problem they experience in finance. A lot of people engaged in these petty trades require capital to either start, expand or grow their businesses and because they do not have the required resources like collateral and other things lenders might be interested in, they find it difficult to obtain a loan. High-interest rates are another barrier to these traders obtaining loans, while some of them do not even have an active bank account.

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Due to these limitations, petty traders continue to suffer while their businesses experience stunted growth. The bottom line is that they are not interested in getting huge amounts of money, they only need a small capital to finance their business growth and this is the reason why the Federal Government introduced Trader Moni as an escape route for them.

Who can get Trader Moni?

This loan is targeted at petty traders or artisans in Nigeria who require a minimum amount of N10, 000, and a maximum amount of N100, 000 to fund and grow their businesses, and anyone who falls into this category is eligible to get Trader Moni.

People in this category could be a small kiosk owner, foodstuff seller, bread seller, wheelbarrow pusher, mobile tailor, mobile cobbler, fruits seller, Keke rider, okada rider, call center operator, small business owner, among many others.

How much can you get from Trader Moni?

The beneficiary of trader Moni can get a minimum amount of N10, 000 and a maximum amount of N100, 000 from Trader Moni. The loan is in phases, and the first amount given is N10, 000.  Once the N10, 000 repayments is done, such a person will get N15, 000, after the repayment N20, 000. Once the N20, 000 is paid back, then the person is eligible for N50, 000, and after the repayment, he/she can get N100, 000.

Getting the next loan is automatic and without stress. As soon as the repayment of the previous loan is done within 3 months, just dial a code on your phone and you get the next higher loan immediately.

Trader Moni interest rate

As mentioned earlier in the introduction, the TraderMoni loan is interest-free. The beneficiary does not need to pay any interest, he/she just has to repay the money received.

Trader Moni collateral

Trader Moni does not require any collateral for its access. It is collateral-free because it’s a Federal government’s strategy of making sure that everyone can access the loan without any restrictions.

Requirements for Trader Moni

There is no big requirement for Trader Moni, once such a person is eligible for the loan, he/she should proceed with the application process. For the first N10, 000, personal bank account details are not necessarily required but after that, the person will be required to provide his/her bank account details and Bank Verification Number (BVN) to access more loans.

Process of getting Trader Moni

The following processes are involved in applying for Trader Moni:

  1. Find a Trader Moni Agent close to your Location

The first step to obtaining a trader moni loan is to search for a Trader Moni Agent that is nearest to the location of the beneficiary. The contact of each Trade Moni co-ordinator and their locations across the country could be found on the website.

  1. Capture your details

Once the agent has been connected with, the details of the beneficiary will be collected, such as name, address and many others, by the agent in order to process the loan.

  1. Text notification

After the details have been collected by the agent, there will be a text notification on the beneficiary’s phone in order to confirm the contact. This text notification appears like a code and will be saved on the phone.

  1. Pick up your money

Once the above steps are completed by the beneficiary, the person can proceed to his/her personal bank for cash collection. If repayment is done without default, the person will be entitled to further loans.

Loan Repayment Duration

The duration of repayment for the first N10,000 loan given is six (6) months from the date of obtaining the loan. With this plan, the person is expected to pay back N430 every week, and if the person chooses to pay back within three (3) months, the repayment amount will be N860 every week. Once the repayment is completed, such person will have access to another loan, and even higher amount than the previous one.

Steps to becoming a Trader Moni Agent

The following steps are involved in becoming a Trader Moni agent:

  1. Locate the coordinator in your state

The first step is for such a person to get in touch with the coordinator of the scheme in his/her state. The necessary information about the state coordinators could be found on the website.

  1. Offer to be an agent

Once the person is connected with his/her state co-ordinator, the next step is for such person to declare his/her intention to be an agent, stating its interest and reasons for the interest.

Further Details of Trader Moni

You can contact TraderMoni through any of the following channels:



Phone: 0700-1000-200

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