Buhari Stops Repayment Of TraderMoni, Other FG Loans For Three Months

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President Muhammadu Buhari addresses Nigerians on the Federal Government’s preparedness in tackling the COVID-19 outbreak in the country on March 29, 2020.

 

President Muhammadu Buhari has suspended the repayment of TraderMoni, MarketMoni and FarmerMoni.

Speaking during a presidential nationwide broadcast on Sunday, the President directed that the suspension of other Federal Government loans be done with immediate effect.

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

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“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 said.

More to follow…

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