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TraderMoni – All You Need to know & How you can Benefit

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TraderMoni - List of States it has been Launched

What is TraderMoni?

TraderMoniA programme launched last Tuesday in five markets in Lagos state recording thousands of beneficiaries already. TraderMoni was launched in partnership with the Bank of Industry (BoI) in order to enlarge government’s financial inclusion agenda down to the grassroots, the bottom of the ladder, considering the contribution of traders to economic development.

Under the scheme, beneficiaries can get access to a higher facility ranging from N15,000 to N50,000 when they repay N10,000 within the stipulated time period (6 months).

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Requirements for the MarketMoni/TraderMoni FG Loan Scheme 2018/2019

  • You must be a Nigerian
  • You must be 18 years and above
  • You must be a business owner or a trader
  • You must belong to a market cooperative union in your location
  • You must have a valid identification
  • You must have a valid BVN
  • You must have a valid SIM/Phone number that us registered with the service providers

How to Register for the 2018/2019 federal government scheme TraderMoni

  • Go to our website: https://www.boi.ng
  • Click on the “Apply For Loan now”
  • Click on “register here” to register your account
  • A verification link and tracking code are sent to your registered email address; click on the verification link to facilitate log in
  • Once logged in, you can complete the application form, save and click on “Continue” to submit the form
  • A mail will be sent to your email address confirming receipt of the application.

NO CLOSING DATE STATED YET

Speaking at the formal launch of TraderMoni at the Owerri Relief Market, Imo State, at the weekend, Vice President, Yemi Osinbajo, said that TraderMoni is a deliberate policy of the Federal Government to assist small scale businesses in the country to grow as well as to reduce poverty among the people.

The United Kingdom Prime Minister, Theresa May, had last month during a three-day trip to Africa, said Nigeria is home to more poor people than any other nation in the world.

“The TraderMoni, which provides loans of N10,000 to registered beneficiaries is part of the deliberate policy of the Federal Government to assist micro businesses to grow and to reduce the poverty level especially among the people in the rural areas by giving them access to funds to help their businesses,” he said.

Osinbajo also said that the  APC-led Federal Government  would continue to ensure that the welfare of Nigerians would continue to be its major priority and urged the people to continue to support efforts of government to make the country a better place for all.

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The Presidency also promised that before the end of 2018, TraderMoni will reach the 36 States of the Federation.

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Customs Corner

Chairman House Committee on Customs and Excise Inspects NCS Facilities in Abuja

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Commends CGC Adeniyi’s Tremendous Leadership Skills

Author: Abra Iruoghene.

The Comptroller-General of the Nigeria Customs Service, Adewale Adeniyi, took the Chairman House Committee on Customs and Excise on an oversight visit to Customs Facilities at the Federal Capital Territory on Wednesday, 15 July 2024.

Represented by the Deputy Comptroller-General of Customs and Commander, Training and Doctrine Command, Gwagwalada, Suleiman Bomai, the Comptroller-General of Customs, Adewale Adeniyi, extended his appreciation to the House Committee on Customs and Excise for their continuous support and dedication to NCS.

Speaking further, Adeniyi disclosed the importance of collaboration between the legislative and the executive arms of government. He said, “NCS has a remarkable way of achieving its objective by equipping officers with the necessary skills and knowledge to meet the economic challenges of Customs administration in the twenty-first century. The Command and Staff College, Gwagwalada, is committed to providing world-class training and professional development for our personnel”.

He said, “The students of the College have witnessed firsthand education and professionalism. NCS has also made impeccable strides by enhancing their personnel capacity in securing the nation’s border, facilitating legitimate trade and generating revenue for the national economy. ”

Bashir described the Chairman’s tour of the facilities, which includes the new NCS’ Cooperate Headquarters, Customs Hospital, Karu, NCS Federal Capital Territory command, Customs Technical Hanger Services Limited, NCS Hotel and Nigeria Customs Command and Staff College, Gwagwalada, as one that will be remembered and cherished by the Service.

The Commandant of the Command and Staff College, Gwagwalada, Assistant Comptroller General of Customs Kingsley Egwuh, said 1,500 officers of junior and senior staff courses have graduated since the college’s inception. He stated the College has also produced 96 members of directing staff who attended the Senior Course and were exemplary in learning and character and were retained as lecturers in the College for two years.

He highlighted that the College has successfully posted and facilitated various programmes and workshops, which include the Time Release Study, Advance Ruling, Operation Whirlwind and many others.

Furthermore, Comptroller Olu Adebisi, the Customs Area Controller, Federal Capital Territory (FCT), Area Command, during the visit, revealed that the Command had surpassed their ‘half of the year’ revenue target of 6 billion naira and was able to bring some manufacturers under excise control.

The Chairman House Committee on Customs and Excise, Hon. Leke Abejide, applauded CGC Bashir for his immense leadership skills and his achievements within a short period of time,

He said, “Customs is well organised and disciplined, the professionalism and Corporate Social Responsibility shown in the hospital is amazing. We are making provisions for Customs’ Primary Healthcare Centers to be built nationwide. Also, two years from now, NCS will have a University”. He added.

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Customs Corner

Customs MMAC Generates N80.35B Revenue in 6 Months

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Author: Lucy Nyambi

 

The Nigeria Customs Service, Murtala Muhammed Airport Command (MMAC), has generated revenue to the tune of N80,351,299,068.00 between the period of January to June 2024.

The Customs Area Controller (CAC), Comptroller Michael Awe, during a press briefing at the command on Tuesday, 23 July 2024, said the revenue collected depicts a 107.5% increase.

 

In his words, “The Command from January to June 2024 was able to collect a total duty of Eighty Billion, Three hundred and Fifty-One Million, Two Hundred and Ninety-Nine Thousand and Sixty Eight Naira Only (N80,351,299,068.00) on Customs duty and other charges.”

“In comparison to the revenue collected in the same period in 2023, the revenue stood at Thirty-Eight Billion, Seven Hundred and Seven Million, Fifty-four Thousand, Two Hundred and Sixteen Naira, Forty Four Kobo only (N38,707,054,216.44). This clearly shows a progressive difference of Forty-One Billion, Six Hundred and Forty-Four Million, Two Hundred and Forty-Six Thousand, Eight Hundred and Fifty Naira, Fifty Six Kobo only (N41,644,246,851.56) depicting 107.5% increase”, the CAC explained.

 

According to Comptroller Awe, the difference recorded was made possible as a result of the resilience of officers in ensuring that agents were made to make proper declarations and to adhere strictly to import/export guidelines in tandem with extant laws.

 

On Anti-Smuggling, the CAC stated that officers and men of the command are not resting on their oars in enforcing government fiscal policies and trade regulations as seizures of illicit drugs, arms and ammunition, among other contraband items with a Duty Paid Value (DPV) of N6,064,987,480.27 were recorded.

 

“The command made the following seizures of 5 packages of 250mgs of Tramadol, 12 packages of 225mg of Tramadol, 1 package of fifty round 9mm live ammunition, 46 packages of dried sea cucumbers, 3 packages of dried donkey male genitals, 55 pieces of Jojef Tomahawk semi-automatic rifles.”

 

“These items were seized mainly because of various forms of infractions which range from false declarations, non-adherence to import/export guidelines and failure to comply with other extant regulations as enshrined in the Nigeria Customs Service Act (NCS Act) 2023”, he explained.

 

Speaking further, the CAC said the Command also recorded the export of goods worth N266,655,113.66K within the period under review, with an FOB value of $204,597.07.

 

The Customs Area Controller reiterated the Command’s commitment to sustain and improve upon revenue generation in the second half of 2024.

 

Comptroller Awe sought the continuous cooperation of all stakeholders and assured them of the Command’s commitment to promoting ease of doing business and trade facilitation.

 

He appreciated the Officers and Men of the Command for their dedication to the noble course of combating smuggling. He encouraged them to always adhere strictly to the rules of engagements while discharging their statutory duties.

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Customs Corner

Nigeria Customs Poised for Increased Economic Activities at Lagos Free Trade Zones

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…As LFTZ Command Records N138B in 6 months

Author: Lucy Nyambi.

The Nigeria Customs Service has expressed its readiness to handle Increased Economic Activities at the free zones in Lagos, as well as the Lekki Deep Sea Port.

Speaking during his familiarisation tour of the Lekki port and the free zones on Monday, 22 July 2024, the Zonal Coordinator Zone ‘A’, ACG Saidu Yusuf, said the service is well equipped to cover more economic terrains.

His words, “This is the future in Nigeria because what we are seeing is going to translate into a huge factor in the Nigerian economy. A lot of activities are happening here, and I am sure we are expecting more activities as well.”

“Infrastructure is being developed, and for us in Customs, we are very ready with our capacity building, and with the calibre of officers we have on the ground, I think we are up to our game to receive more factories and to cover more activities in the zone”, ACG Yusuf stated.

The Zonal Coordinator also visited the Lagos Free Trade Zone Command. He expressed delight at the level of improvement by officers and men of the command in barely 3 years of operation.

“I must confess that I’m really impressed with what I have seen today in the Command, it means the officers are really working, and what we need to do is to encourage them, just like has been done by the Comptroller-General of Customs (CGC), Adewale Adeniyi, has been rolling out procedures and tools for the smooth operation of customs procedures. I’m sure by the time all the tools are fully operational, this command will come up very well in terms of revenue.”

The Customs Area Controller (CAC) Comptroller Olanrewaju Olumoh appreciated the Zonal Coordinator’s visit while also acknowledging the performance of the command since his assumption.

The CAC stated that he and his team have been upholding the core values of professionalism and integrity and doing remarkably well in revenue generation. “In the area of revenue, from January 2024 till date, the command has generated the cumulative sum of N138,179,207,744.00 as against the sum of N28 billion generated in the same period last year.”

Comptroller Olumoh noted that the revenue collected represents a 393.4% increase and expressed optimism about meeting and surpassing the Command’s target.

Stating further, Olumoh said though the command remains user-friendly, it remains committed to ensuring that illicit and harmful items do not enter the country through the Lekki Port. “Our officers conduct comprehensive physical inspection because we are very much committed to ensuring that no unscrupulous elements will bring in illicit or harmful items into the country through the Lekki port.”

In line with the desire of the CGC Adeniyi to have a very healthy workforce, the Zonal Coordinator commissioned a clinic set up by the Command within the office premises for officers to have easy access to first aid attention.

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