Local Bank Launches Micro-Loan Scheme for Women Fish Traders

A community bank has launched a micro-loan scheme offering collateral-free credit of up to ₦150,000 to registered women fish traders at the central market, aimed at helping them buy in bulk during peak season.

Over 200 traders have already applied in the scheme's first two weeks. 'Before now, we borrowed from money lenders at rates that ate all our profit,' said trader association secretary Nengi Abbey.

The bank says it will review the scheme's performance after six months with a view to expanding it to other markets in the kingdom.