Only one per cent Kano farmers return CBN loan – AFAN

Farmers farming

The All Farmers Association of Nigeria, AFAN, in Kano State has expressed concern over the refusal of most of its members to repay their Anchor Borrowers loans.

The association, therefore, expressed the fear that the Central Bank of Nigeria, CBN, might not consider the state for similar facility in future.

The state AFAN chairman, Faruk Rabi’u, expressed the fear in an interview with the News Agency of Nigeria in Kano on Sunday.

He lamented that out of 5,540 rice and wheat farmers that received the loans under the Anchor Borrower programme, not up to 50 of them repaid the loans, indicating a percentage less than one per cent.

“Iam afraid if the Central Bank of Nigeria will again consider our farmers for any Agric loan in future if the money is not recovered.

“So, we have taken necessary steps to recover the loans by setting up a loan recovery committee to recover the loans,” Mr. Rabi’u said.

He said the team was expected to go round the 44 local government areas of the state to collect the loans from defaulting farmers.

Concerned by the farmers’ attitude, the state government had also constituted a nine-member committee to recover the loans in time.

The Committee is under the leadership of the Managing Director of the state Agricultural and Rural Development Authority, KNARDA, Mahmoud Daneji.

(NAN).


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  • Frank Bassey

    “He lamented that out of 5,540 rice and wheat farmers that received the
    loans under the Anchor Borrower programme, not up to 50 of them repaid
    the loans, indicating a percentage less than one per cent”
    HOW WILL THEY REPAY THE LOANS WHEN EACH OF THEM HAS FOUR WIVES AND 20 CHILDREN TO CATER FOR; AND GO TO MECCA FOR HAJJ. AFTER ALL IT’S FREE OIL MONEY. NO QUALMS.

    • princegab

      Cbn officials are supposed to be professional, if the money wasn’t a free take, then where are the collaterals for the loans? On what were the loans anchored?