PVC not condition for N10,000 loan, says Presidency

by Per Second News
2 minutes read

The Presidency has denied that beneficiaries of the Federal Government Trade moni, N10,000 collateral free loan must present their Permanent Voters Cards (PVC), before they qualify for  the loan.

According to the Senior Special Assistant to the President on Media and Publicity Office of the Vice President, Laolu Akande, while giving update on the scheme said that there was no documentation of any kind required before one is qualified for the loan.

He said, “The petty traders are not required to show PVC, or any document for that matter, they are only expected to show they are petty traders and this is why the enumeration is done in the markets and wherever the traders ply their trades.”

He assured that the President Muhammadu Buhari’s administration will intensify its efforts to empower more Nigerians with the collateral free loans to petty traders across the country.

The presidential media aide explained that that the credit scheme was part of the Social Investment Programme of the administration when it commenced in 2016.

Akande while taking exceptions to insinuations that the beneficiaries of loan specifically conceived in 2016, asked, “Must we then suspend the empowerment of the traders just because some people will insinuate motivations?

“The petty traders whose trades and lives are being positively impacted as they receive the N10,000 are telling a different story from those making political insinuations. And it is their stories that inspire us.

“Nigerians already know that the Buhari Administration is one that is projecting the interests of the common man, Nigerians who are at the lower rungs, and this is not a new perception at all.”

Akande disclosed that the interest free loans which has now been launched in eight States including the FCT would be extended to more States including Oyo, Cross Rivers, and Kaduna States this week.

He said the micro-credit scheme has been introduced in Lagos, Kano, Abia, Akwa Ibom, Katsina, Osun, FCT, and Kogi.


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