CBN Disburses $108 Million to Farmers via Anchor Borrowers Programme

The Central Bank of Nigeria, CBN, yesterday, said it had disbursed N33.34 billion to 146,557 farmers under the Anchor Borrowers Programme, ABP.

The CBN disclosed this in a statement issued, yesterday, saying: “Details of the loan disbursement and repayment indicate that as at March 31, 2017, N33.34 billion had been released through 12 participating finance institutions in respect of 146,557 farmers across 21 states cultivating over 180,018 hectres of land.

Of the total amount of N33.34 billion released to date, about N15.137 billion disbursed to 73,941 Kebbi State farmers 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 farmers in the other 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.

Source: Vanguard