As Minister of Humanitarian Affairs and Poverty Alleviation, Dr. Betta Edu, begins market sensitization and engagement, the Federal Government plans to launch the IYALOJA Scheme for Pretty Traders next month, November 2023.
This program aims to reach at least 1.5 million Nigerians across the country. The loan, dubbed “The l1YALOJA Market Fund,” will be handed to a group of market traders chosen from 109 marketplaces throughout all Senatorial zones in Nigeria. Sensitization and enrollment are underway in advance of the flag-off next month.
This IYALOJA Scheme look similar to the GEEP Loan scheme of former Administration where people are given Marketmoni, Farmermonie and Tradermoni loan of N50,000 to N100,000
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 50k