CBN Disburses N756.5bn Loan to Farmers in 6 Years
Finance Minister
The Central Bank of Nigeria (CBN) has disbursed the sum of N756.51bn to farmers in about six years.
The apex bank said the loan to 3.7 million farmers was under Anchor Borrower’s Programme introduced in 2015.
In a communiqué released after the Monetary Policy Committee meeting released on Tuesday, the bank said the farmers include those into rice, maize, wheat, cotton, roots and tubers, sugarcane, tree crops, legumes, tomato and livestock.
The loans were disbursed through deposit money banks, development finance institutions and microfinance banks.
According to the communiqué that bank also disbursed N121.57bn 32,617 beneficiaries under its Agribusiness, Small and Medium Enterprise Investment Scheme which was introduced in February 2017 by the MPC.
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