Home Scam/Fraud CBN N756.5bn farmers loan programme suffers repayment delay — Scam Guards

CBN N756.5bn farmers loan programme suffers repayment delay — Scam Guards

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•Gombe farmers assumed 2018 loans were political gifts –NIRSAL administrator

After the disbursement of N756.5bn in loans to over 3.7 million farmers across the country, the Anchor Borrowers Programme of the Central Bank of Nigeria has failed to recover much of the credit from participating farmers, Sunday PUNCH has learnt.

The President, Major General Muhammadu Buhari (retd), in 2015, launched the ABP in a bid to boost agricultural production and reverse Nigeria’s negative balance of payments on food.

Beneficiaries of this programme include farmers cultivating cereals (rice, maize, wheat etc.), cotton, roots and tubers, sugarcane, tree crops, legumes, tomatoes and livestock.

The CBN, in a communiqué no. 137 of the Monetary Policy Committee meeting…

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