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Calls for suspension of TraderMoni deceitful, says Presidency

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Through TraderMoni, the Buhari administration is empowering ordinary Nigerians by improving financial inclusion in the grassroots

The Presidency has said that calls for the suspension of the TraderMoni, one the Social Investment Programmes of the Buhari administration is a direct confrontation with millions of Nigerians benefiting from programme and several others.
The Vice President’s spokesperson, Laolu Akande said in a statement in Abuja that the call by some individuals under the auspices of the Southern and Middle Belt Leaders Forum was deceitful and a disservice to the over two million Nigerians who will benefit from the loan.
Akande, who was reacting to news report credited to the group, said “It is deceitful for anyone or group to accuse the Vice President Yemi Osinbajo, SAN, of advance vote-buying through TraderMoni, a micro-credit scheme designed to assist the bottom of the pyramid petty traders nationwide. This was the false claim contained in a communiqué jointly signed by the leadership of a group called Southern and Middle Belt Leaders Forum recently.
“We do not think the Nigerian people are up for sale, nor can they be bought. Such suggestions are an insult on our collective identity. And calling for the suspension of a scheme that improves the businesses of ordinary, hardworking Nigerians, like petty traders, is not only unfair, but an attack on the common man.
“The Social Investment programme of the Buhari administration started in 2016, and the TraderMoni scheme is a part. So, it is false to even insinuate that the scheme was meant for advance vote-buying when it was conceived two years ago.
“TraderMoni, which is part of the Government Enterprise and Empowerment Programme (GEEP) under the SIPs, is designed to assist petty traders across the country expand their trade through the provision of collateral- and interest-free loans from N10,000. The loans are repayable over a period of six months.
“Also, it would seem naysayers cannot withstand the fact that this administration is fulfilling its promise. Would they rather share the funds among themselves instead of supporting petty traders? Afterall, in some few instances, a combined sum of N100 Billion was shared under the former administration.
” If that N100 Billion had been given to petty traders as loans, like the Buhari administration is doing now at N10,000; 10 million petty traders nationwide would have been beneficiaries.
“We will not choose to engage with the notion that Nigerians and their loyalty are for sale. This administration has proven over and over again that it is committed to the welfare of everyday Nigerians, the common man. That is why we started the largest Social Investment Programme in the history of our country. And we will not relent in staying connected with our people.
“This is a major reason why TraderMoni, which has since been formally launched in 33 states and the FCT, will continue nationwide as we intend to reach 2 million Nigerians by the end of the year. Over 809,000 Nigerians are currently beneficiaries of the microcredit scheme.
“Despite this being a season of upcoming elections and desperate politicians resorting to desperate measures, it is irresponsible for any group to play politics with the welfare of ordinary Nigerians – hardworking petty traders, who are simply making honest living and trying to support their families – and a microcredit scheme which is meant to help improve their businesses and means of livelihood.
“Besides the fact that petty traders are major contributors to the informal economy, most of them do not have access to loans from commercial banks which require collateral or interest, which would help them grow their business, and so the country’s economy.
“Again, through TraderMoni, the Buhari administration is empowering ordinary Nigerians by improving financial inclusion in the grassroots.”
Akande said that beneficiaries of TraderMoni are not required to show their Personal Voters Cards (PVCs) or any document to qualify for the interest-free loans. This is why the enumeration is done in the open markets and wherever the traders ply their trade.
“The Social Investment Programme includes the Home Grown School Feeding Programme (HGSFP); Conditional Cash Transfer (CCT); Government Enterprise and Empowerment Programme (GEEP) (MarketMoni, FarmerMoni & TraderMoni) and the N-Power job scheme
“The Home-Grown School Feeding programme is now feeding over 9 million primary school pupils a free meal a day in 26 states nationwide; while almost 300,000 Nigerians are beneficiaries of the Conditional Cash Transfer.
“So far, over one million Nigerians are beneficiaries of GEEP schemes – MarketMoni, FarmerMoni and TraderMoni, while 500,000 young Nigerian graduates have been employed under the N-Power job scheme.
“Thus, we urge the group to halt its needless attack on the largest and most ambitious social investment programme in Nigeria’s history, and rather join hands to help our people.
“The Buhari administration remains committed to the welfare and upliftment of the common man and all Nigerians, regardless of party affiliations, and the Social Investment Programme is one of the major planks of this administration to improve their livelihood.”

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Democracy Day: Tinubu Honours Heroes, Seeks Stronger Collective Action on Terrorism

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President honours Gens. Yar’Adua, Williams, Igbokwe, media moguls, activists, other heros
With a call on Nigerians to unite in the fight against terrorism, banditry and kidnapping, President Bola Ahmed Tinubu reflected on the nation’s 27 years of uninterrupted democracy.

He said such joint efforts had become imperative because the battle against insecurity cannot be left to the government alone.

The President listed some deserving individuals, including the late Gen. Shehu Musa Yar’Adua, Gen. Ishola Williams, media executives, rights crusaders and others for national honours.

In his Democracy Day broadcast this morning, the President urged citizens to avoid ethnic profiling and blame games in the face of security challenges.

He assured that the country would emerge stronger and more united after overcoming terrorism.

He said: “At a time like this, let us not assign blame or point fingers. Crime has no ethnicity.

“We must stand united and be assured that the enemies of our nation shall soon be history.

“We will triumph over terror and continue to build a more prosperous nation.”

The President spoke against the backdrop of recent abductions in Oyo and Borno states.

He described the incidents as a painful reminder that democracy cannot thrive without security.

Expressing optimism that the abducted children would regain their freedom, Tinubu stressed that his administration had responded decisively by declaring a security emergency and approving the recruitment of more than 50,000 police officers and thousands of military personnel.

Besides, he said the government allocated N5.41 trillion to defence and security in the 2026 Budget, describing it as the largest security vote ever.

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“Democracy without security is a mirage,” he said, noting that the allocation represents the biggest defence and security budget in Nigeria’s history.

Tinubu said the country had moved beyond conventional military training exercises with international partners to precision targeting of terrorist networks, citing the degradation of an ISWAP command centre in Arege, Borno State, as evidence of progress.

Reflecting on the democratic journey, Tinubu said the country had enjoyed its longest uninterrupted period of civilian rule, spanning 27 years since the return to democratic governance in 1999.

He noted that despite its imperfections, Nigeria’s democracy remained resilient because citizens had consistently chosen leaders through the ballot box, resolved disputes through legal institutions and ensured peaceful transitions of power.

Ahead of the forthcoming governorship elections in Ekiti and Osun states, the President urged stakeholders to safeguard the integrity of the electoral process.

He called on the Independent National Electoral Commission (INEC), security agencies and political parties to ensure peaceful and credible polls, warning that democracy suffers whenever citizens lose confidence in elections.

The Ekiti governorship election will be held on June 20, while the Osun poll is scheduled for August 15.

Tinubu challenged the National Assembly, the Judiciary, the media and civil society organisations to continue serving as guardians of democratic governance.

“Criticise me, disagree with me, but never stop believing in Nigeria,” he said.

On youths, the President urged them to see the country as their future and contribute actively to national development rather than seeking opportunities elsewhere.

He said: “Nigeria is your home and your future. Build here, code here, work here, and vote here. Every great nation was built by those who stayed to solve problems, not by those who abandoned ship.”

The President also commended members of the armed forces, police, intelligence agencies, traditional rulers, religious leaders and community heads for their roles in promoting peace and national cohesion.

The President paid glowing tribute to Nigerians who endured imprisonment, exile, persecution and death during the struggle for democracy, describing them as heroes whose sacrifices made the current democratic dispensation possible.

He saluted the late winner of the annulled June 12, 1993 presidential election, Chief Moshood Kashimawo Abiola, and his deceased spouse, Alhaja Kudirat Abiola, alongside other democracy vanguards.

Former President Muhammadu Buhari in 2018 signed an Executive Order proclaiming June 12, the date of the historic election won by Abiola but annulled by the military, as Democracy Day. It has since been observed as a public holiday.

Those listed for national recognition include Chief Gani Fawehinmi, Chief Bola Ige, Chief Alfred Rewane, Senator Abraham Adesanya, Chief Anthony Enahoro, Alhaji Balarabe Musa, Commodore Dan Suleiman, Dr. Beko Ransome-Kuti, Chief Frank Kokori, Chief Arthur Nwankwo, Mr. Chima Ubani and Gen. Yar’Adua.

Tinubu also announced national honours for many journalists, activists, lawyers, politicians and civil society leaders who suffered persecution, detention, exile and other hardships during the struggle against military rule.

Many military officers who were persecuted during the pro-democracy struggle were also honoured.

They are Ayoka Lawani, Tunde Fagbenle, Oladele Alake, Olatunji Bello, Louis Odion, Segun Babatope, Sam Omatseye, Ademola Osinubi, Bola Bolawole, Lade Bonuola, Femi Kusa, Osa Director, Richard Akinnola, George Mbah, Niran Malaolu, Gbemiga Ogunleye, Jenkins Alumona, Muyiwa Adekeye, Babajide Kolade-Otitoju, Ike Okonta and Ben Charles-Obi (posthumous).

Activists on the list are Debo Adeniran, Ayo Opadokun, Ralph Obiora, Ose Osayande, Sylvester Odion-Akhaine and Arthur Nwankwo (posthumous).

Others are Osagie Obayuwana, Joe Okei-Odumakin, Titus Mann, Joe Igbokwe, Maj.-Gen. Ishola Williams (retd) and Femi Aborisade.

The President equally recognised many military officers, including Maj.-Gen. M.A. Garba, Brig.-Gen. Lawal Jaafaru Isa, Col. Umar Farouk Ahmed, Col. Sambo Dasuki, Col. Lawan Gwadabe, Brig. Jonathan Ndam Temlong, Col. Musa Shehu, Maj.-Gen. Chris Eze, Maj.-Gen. Harris Dzarma, Col. Isa Jibrin, Maj.-Gen. Joseph Oshanupin, Col. Olusegun Oloruntoba, Lt.-Col. Happy Kefas Bulus, Col. J. Okai, Col. Emmanuel Ndubueze, Lt.-Col. Yakubu Muazu and Brig. Yahaya Abubakar, who is the Etsu Nupe.

The President added: “Among the architects of modern democratic Nigeria, we honour General Shehu Musa Yar’Adua for his vision of national partnership.

“In recognition of his contributions, the Federal Government has approved the revitalisation and renaming of the completed Institute of Petroleum Studies, Kaduna, as the General Shehu Musa Yar’Adua University of Geological Sciences and Engineering Technology.”

Tinubu said the full honours list would be released in the coming days.

According to him, the greatest tribute Nigerians can pay to the heroes is to build a nation where freedom is protected, justice is upheld, opportunities are expanded, and government remains accountable to the people.

June 12, he believes, demonstrates the possibility of a united Nigerian nation, noting that while the heroes of that struggle secured political freedom, the responsibility of the present generation is to secure economic freedom.

‘Reforms necessary’

He defended the economic reforms undertaken by his administration, arguing that they were necessary to rescue the country from severe fiscal strain and economic uncertainty.

The President said the reforms had restored stability and credibility to economic management, increased federation revenues, improved fiscal transparency and attracted fresh investments into agriculture, manufacturing, energy, technology, mining, transportation and the creative sector.

He added that domestic refining capacity had expanded significantly, enhancing energy security and reducing dependence on imported petroleum products.

‘We’ll deliver on electricity supply’

On electricity, Tinubu said his administration inherited a sector plagued by inadequate generation, weak transmission infrastructure, huge distribution losses, a metering deficit exceeding four million customers and massive legacy debts.

He noted that the Electricity Act signed by his administration had empowered states to generate, transmit and distribute electricity, while the Presidential Power Sector Task Force had been mandated to tackle the metering gap and raise a N4 trillion bond to settle verified debts in the sector.

The President said the Rural Electrification Agency (REA), with support from the World Bank and the African Development Bank (AfDB), was extending off-grid and mini-grid electricity projects to underserved communities, educational institutions, markets and hospitals across the country.

“Electricity is a democratic dividend we owe every Nigerian. We intend to deliver it,” he said.

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Highlighting ongoing projects, the President said they were creating jobs, improving connectivity and opening new opportunities for enterprise.

He said the National Agricultural Development Fund (NADF) was deploying 10,000 tractors over five years, while over 1,000 small and medium enterprises had been certified for export.

He added that non-oil exports grew by 21 per cent in the past year.

Despite the progress, the President acknowledged that many Nigerians continued to face economic hardship.

He assured citizens that the government remained focused on reducing inflation, increasing food production, creating jobs, improving living standards and ensuring that the benefits of economic reforms reached every household.

“We are moving from uncertainty to stability. The next phase is about accelerating growth and ensuring the benefits are felt in every home, every community and every region. We believe that democracy must be felt in the pocket,” he said.

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BREAKING: Reps Pass State Police Bill in Major Security Reform Move

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The House of Representatives has passed the state police bill, effectively making way for the decentralisation of the Nigerian policing architecture.

The resolution followed the voting by 289 lawmakers in favour of state police during Thursday’s plenary session presided over by the Speaker, Tajudeen Abbas.

Recall that the House committed Thursday’s plenary to voting on the State Police Bill following the spike in killings, kidnappings, and banditry in the past few months.

The session was not without its fair share of drama, as shortly after the lawmakers settled down for the business of the day, Kaduna lawmaker, Bashir Zubairu, moved a point of order, explaining that the document on the proposed state police put together by the House Committee on Constitution Review got to the lawmakers only on Thursday afternoon.

Recognised to speak by the speaker, Zubairu said, “Mr Speaker, this document was only made available to lawmakers in the chambers, and we are yet to go through it. We cannot do justice to it because we have not gone through it.”

Zubairu, a member of the African Democratic Congress, was ruled out of order, allowing the process to proceed.

While the Speaker took members through the clauses, voices shouting “Point of Order” could be heard, but the presiding officer ignored them.

Before the voting began, Abbas announced that the electronic voting system was faulty, noting that the exercise would be conducted based on attendance.

Out of the 290 members in attendance, 289 voted in favour of state police while one voted against. The Speaker abstained from voting.

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No More Delays’ — Senate Leader Confirms State Police Bill Passage This Week

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The National Assembly is set to pass the constitutional amendment bill establishing state police this week, Senate Leader Opeyemi Bamidele has disclosed, describing the reform as long overdue in view of Nigeria’s worsening security challenges.

Speaking in an interview with journalists, the lawmaker representing Ekiti Central Senatorial District said the National Assembly had concluded consultations with key stakeholders and was ready to fast-track the amendment process.

According to him, the amendment would be separated from the broader constitutional review exercise to ensure speedy passage and transmission to the 36 state Houses of Assembly for ratification.

“A cross-section of Nigerians has made it abundantly clear that there cannot be a better time to establish state police than now. We have reached a firm conclusion that we will pass the constitutional amendment to make provision for state police, and this will come to fruition this week,” Bamidele said.

He disclosed that consultations had involved the National Assembly leadership, the Attorney-General of the Federation, the Chief of Staff to the President, the Inspector-General of Police and other critical stakeholders.

The Senate Leader also revealed that President Bola Tinubu and a majority of state governors support the proposal, expressing confidence that the required approval from two-thirds of state assemblies would be secured.

On the controversy surrounding calls for a probe into military spending amid rising insecurity, Bamidele defended the Senate’s decision to reject the motion, insisting that placing the armed forces under public scrutiny while they are actively engaged in counter-terrorism operations would be counterproductive.

He said the military was confronting an unconventional enemy and had continued to make sacrifices in the fight against terrorism despite difficult circumstances.

“We cannot put our military on trial in the middle of a war. Accountability mechanisms already exist through the Senate Committees on Defence, Army, Navy and Air Force, which carry out oversight responsibilities,” he stated.

Bamidele argued that significant progress was being made against insurgents, adding that recent attacks by terrorists reflected desperation arising from heavy losses suffered during military operations.

The Senate Leader also dismissed claims that the 10th National Assembly had become a “rubber stamp” of the Executive, saying lawmakers had consistently engaged the Presidency behind closed doors to resolve disagreements before bills reached the floor.

According to him, constructive collaboration between the legislature and the executive should not be mistaken for weakness.

“We are not a rubber stamp Senate. We simply chose to resolve disagreements privately rather than perform them publicly,” he said.

On electoral reforms, Bamidele maintained that the Electoral Act should not be amended in the heat of political contests, stressing that any review should take place after elections and without retroactive effect.

He also reaffirmed his support for the publication of legislators’ salaries and allowances, saying greater transparency would help dispel public misconceptions about lawmakers’ earnings and benefits.

Regarding anti-kidnapping legislation, Bamidele disclosed that the proposed Anti-Terrorism Bill and measures prescribing the death penalty for convicted kidnappers remain on course and would be concluded alongside related constitutional amendments.

Reflecting on the performance of the 10th Senate, he identified the controversy surrounding the suspension of a senator and allegations of gender insensitivity as one of the institution’s lowest moments.

However, he highlighted several legislative achievements, including tax reforms, the student loan scheme, and the establishment of new federal tertiary institutions across the country.

Bamidele expressed optimism that the Senate’s reforms, particularly the state police initiative and tax legislation, would strengthen national security, deepen democratic governance and provide long-term economic benefits for Nigerians.

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