International records / OpenAlex research

Tradermoni micro-credit scheme and poverty reduction in Nigeria

An examination of the tradermoni micro credit scheme becomes necessary considering the high rate of poverty in Nigeria. The conceptualization of the scheme is innovative and assuring. It provides a system that will ensure financial inclusion at the lowest level of the economy with a mechanism to encourage repayment. Unlike similar scheme in the past, beneficiaries can access a higher credit facility upon repayment of previous loan. This is to encourage refund and productivity. The bottlenecks and hassles depriving many low income earners access to credit facilities are removed in this scheme. …