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.
“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…