President Muhammadu Buhari has ordered the stoppage of repayment of TraderMoni, MarketMoni and FarmerMoni.

The President disclosed this in a nationwide broadcast on Sunday.

Buhari also directed that the suspension of other Federal Government loans with immediate effect.

“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.

“For the most vulnerable in our society, I have directed that the conditional cash transfers for the next two months be paid immediately. Our Internally displaced persons will also receive two months of food rations in the coming weeks”.

“We also call on all Nigerians to take personal responsibility to support those who are vulnerable within their communities, helping them with whatever they may need. As we all pray for the best possible outcome, we shall continue planning for all eventualities”, he said.