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Home Economy Anchor Borrowers: Farmers Repay CBN Loans
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Anchor Borrowers: Farmers Repay CBN Loans

By
Prnigeria
-
May 3, 2017
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FARMERS
FARMERS

Anchor Borrowers’ Programme: Farmers Repay CBN Loans
Contrary to insinuations about the unwillingness of farmers to pay up their loans, the Central Bank of Nigeria (CBN) says farmers who accessed under its Anchor Borrowers’ Programme (ABP) have indeed commenced repaying their loans.

Details of the loan disbursement and repayment obtained from the apex Bank indicate that as at March 31, 2017 a total sum of N33.34 billion had been released through 12 Participating Finance Institutions in respect of 146,557 farmers across twenty-one (21) States cultivating over 180,018 hectres of land.

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Out of the total amount of N33.34 billion released to date, about N15.137 billion disbursed to 73,941 Kebbi State beneficiaries have fallen due for repayment with N7.119 billion representing 47 per cent, repaid and returned to CBN.

Meanwhile, the balance of N18.203 billion of the 12 months tenured loans released to beneficiaries in the other twenty (20) states for two cropping (wet and dry) seasons have not fallen due for repayment.
However, farmers in other benefiting states have also commenced the repayment to the tune of N1.238 billion which is already with the CBN.

Efforts are currently being made by the participating state governments to ensure that all outstanding loans are repaid by the beneficiaries as soon as they are due before commencement of the next dry season cultivation. This is to enable the CBN extend similar gestures to farmers in other states which have indicated interest in the participating in the Anchor Borrowers Programme.

Six commodities namely, rice, wheat, maize, soya beans, cotton and fish have also been cultivated with appreciable yields achieved with Kebbi state alone accounting for about two million metric tons of rice out of estimated four million metric tons so far realized under programme alone nationwide.

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TRADOC Commander Tasks Army Training Schools to Own Doctrine, Drive TransformationSecurity Forces Nab 13 Suspects for Kidnapping, Banditry, Cattle Rustling in Kaduna, AbujaMilitary Warns Vigilantes Against Unauthorized Operations in Plateau, Confirms 8 Deaths in Kanam AmbushGov. Mutfwang Hails NSCDC Boss Audi as 150 Agro-Rangers Graduate in PlateauIllegal Mining: EFCC Arrests 5 Chinese, 4 Nigerians in NigerUAE Bans Transit Visas for Nigerians, After US Visa RestrictionsNigerian Troops Destroy Terrorists' Enclaves across Theatres of OperationArmy Intercepts Truckload of Vandalised Railway Tracks, Arrests 8 Suspects, Recovers Cash in YobeLagos Police Roll Out Proactive Measures Ahead of Saturday's Local Council PollsFG Eyes 5,000-Tonne Boost in Fish Production Through PPP ModelREVEALED: Why US Reduced Visa Validity for Nigerians to 3 Months in Reciprocal Policy ShiftNSA Hails New Joint Doctrine and Welfare Centre to Revolutionize Military CollaborationMilitary'll Support Regional Growth for Lasting Peace, CDS AssuresIgbo Criminals Behind Most Killings, Abductions in Southeast, Not Fulani — Governor Soludo DeclaresShagaya at NASS: Fostering Youthful Vision through Humble Leadership By Umar Farouk Bala
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