Nigeria

Buhari Stops Repayment Of FG Loans For 3 Months

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President Says that TraderMoni, MarketMoni and FarmerMoni would b upended for three months.

He stated that the suspension of these loans should be done with immediate effect.

The President stated this while addressing the Nation on the Coronavirus Pandemic on Sunday.

“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.

Adelowo Adegboyega
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