Monday 10 December 2018
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saharareporters - 19 days ago

Borno Excluded From CBN s N9.4bn Loan To 55,000 Farmers In The North-East



Farmers in the Boko Haram-troubled Borno State will not benefit from Central Bank of Nigeria s (CBN) N9.4billion agric loan earmarked for farmers in the north-east. The CBN granted N9.4billion loan to 55,000 farmers in the North-East, to be utilised during this year s dry season and/or irrigation farming, SaharaReporters can report. Sadiq Umar Daware, National Chairman of North-East Commodity Association (NECAS), stated on Tuesday in Yola that 55,000 members of their association had benefited from the loan scheme. However, Stephen Maduwa, National Treasurer of NECAS, said: Farmers in Borno were not captured by NECAS officials. Reasons for that may be due to the resurgence of Boko Haram attacks in parts of the state. NECAS is a commodity association base anchor borrowers programme created by the CBN to channel the loan facilitý from the apex bank to farming communities in the country. Sometime last year, the Central Bank approved a commodity association base anchor borrowers programme, Daware said. And in the first circle, the North-East, comprising six states, only 6,000 farmers benefitted, while in the North-West over 15,000 benefited. Therefore, for the North-East to benefit under this program, there s the need to come up with zone-base commodity association under which we have been able to mobilise 55,000 farmers and CBN has approved and disbursed N9.4 billion to them. At the event, NECAS distributed 133 vehicles, comprising 120 motorcycles and 13 cars, to extension staff for logistics support during monitoring and loan recovery. Boko Haram Insurgency Money News AddThis : Original Author : saharaReporters, New York Disable advertisements :

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