The Federal Government Sets To Launch IYALOJA Scheme For Pretty Traders Next Month, November 2023, As Minister of Humanitarian Affairs and Poverty Alleviation, Dr. Betta Edu Begins Market Sensitization and Engagement.
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This program has the target of reaching at least 1.5 million Nigerians Nationwide. Newly christened “The l1YALOJA Market Fund”, the non-interest loan of N50,000 would be given to phase 1 of market traders, selected from 109 markets across every Senatorial zone in Nigeria. The process of sensitization and enrolment is ahead of the flag-off, Next month.
This IYALOJA Scheme look similar to the GEEP Loan scheme of former Administration where people are given Marketmonie, Farmermonie and Tradermonie loan of N50,000 to N100,000.
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HM Dr Betta Edu had earlier stated in one of her interview that there are going to be introducing a lot of new innovations into the system. However, the programs that have been carried out by the past Administration are really very useful and helpful.
She stated then that they will be rejiggering a couple of things and looking at the past trying to make amend wherever we have not done well and expanding it to accommodate more people.
According to information available, some major markets across the Country have been selected for registration and capturing of traders by Nassco enumerate. Traders will be captured where the run their business and a savings account will be open for him, and the N50,000 free interest loan money will be sent directly from CBN to his Savings account N50,ooo.