Is TraderMoni a scheme for vote buying? INEC plans to investigate

Ayodele Johnson 22:04 - 31 January 2019

Vice-President Yemi Osinbajo sits with beneficiaries of the TraderMoni loan scheme in a market in Ibadan, Oyo State. [Premium Times]

<strong>The Independent National Electoral Commission (INEC) is aware of rumours suggesting that the TraderMoni Scheme introduced by the Federal Government of Nigeria (FGN), is an attempt at vote-buying and has promised to conduct an investigation.</strong>

Channels TV News confirmed the report on Thursday, January 31, 2019. Since Vice President Yemi Osinbajo began his march distributing interest-free N10,000 loans to traders across the country, there have been side talks pointing to a selfish agenda.

Professor Mahmood Yakubu, the chairman of INEC spoke to reporters in Abuja where he shared that INEC has a method able to detect if the campaign finance laws have been violated by the incumbent government.

Sophisticated vote-buying or not?

Petty traders in Oyo, Cross-River Lagos, Kano, Abia, Akwa Ibom, Katsina, Osun, Kogi and Abuja in the Federal Capital Territory, have benefited from the distribution of the TraderMoni loans by VP Yemi Osinbajo. He began a tour of markets close to the end of the year 2018, and was treated to a good reception.

The Senate President Dr. Bukola Saraki has questioned why the visits began with Nigeria's General Elections so near.

The MP is the Director General (DG) of the PDP Presidential Campaign Council. He has often criticized President Muhammadu's Buhari for leading in a government that lacks impact.

TraderMoni, a N10,000 interest-free loan is targeted at helping petty traders and artisans with capital to make a living. The loan received is to be returned to the government within a timeline of 6 months. [Trader Moni]

On Friday, November 30, 2018, Saraki addressed reporters to comment about a one-sided TraderMoni scheme. According to the Senate President, only APC women leaders were visible during the market visits.

"In 2015, I didn’t see the Vice President going anywhere to give anybody Trader Moni. In 2016, I didn’t see the Vice President going anywhere to give anybody Trader Moni. In 2017, I didn’t see the Vice President going anywhere to give anybody Trader Moni.

"But all of a sudden in 2018, we are seeing this. He goes about with the Woman Leader of his party, APC, and governors of his party.

"At least, if you are going, you should have Woman Leader of all the parties because the money belongs to Nigeria. But all I see is APC Women Leaders. It is wrong, it is morally wrong. It equates in a way to sophisticated vote buying.

"If it is not vote-buying he should have been doing it since 2015. In 2016, he didn’t do it. In 2017, he didn’t do it. Suddenly in 2018, that is the biggest programme.

"And next time he goes out, he should carry people that represent the community, not just one party or political association. It’s either they stop it completely or they expand the space to ensure that it represents all Nigerians.

"Because the money when it was appropriated, we said it is money appropriated for all Nigerians."