New Telegraph

APB: ‘Only 1M Farmers Nationwide Accessed CBN’s N1.09 trn Loans’

Following the Senate directive to the Central Bank of Nigeria (CBN) to recover the N1.079 trillion loans given to farmers under the Anchor Borrowers’ Programme (ABP), the All Farmers Association of Nigeria (AFAN), revealed that only one million farmers out of about 20 million benefited from the ABP. In addition, the farmers association also raised the alarm in the disbursement of the loans, saying no member of AFAN benefited one kobo from the CBN’s agric scheme.

It was revealed that state governors, fake leaders of agric associations, portfolio farmers and some partners in the financial sector were the most beneficiaries of the controversial loans that ought to have made Nigeria a food sufficient nation.

The National President of AFAN, Architect Kabir Ibrahim, in an interview with New Telegraph, said the immediate past CBN Governor, Mr. Godwin Emefiele, made a big blunder with the Anchor Borrower’s Programme by championing the disbursement via his cohorts in banks. Ibrahim, who is also the President, Nigeria Agribusiness Group (NABG) and Chairman, Board of Trustee (BOT), National Agricultural Foundation of Nigeria (NAFN), explained that the Senate’s loans recovery directive would unravel lots of rots that were perpetuated under the ABP between 2015 and 2023.

According to him, the Emefiele CBN regime failed to heed advice from the Federal Ministry of Agriculture and Food Security and key agric stakeholders. Ibrahim said: “The present CBN has said it, it would not do Anchor Borrowers’ scheme again. The ABP was Emefiele’s baby and he lost his job because of those activities he did with the ABP funds. “I am not sure this current CBN governor would contemplate doing that because the CBN has come out categorically to say that they are not going to operate the scheme again.

“We even praised them for given the fertiliser that they have through the Federal Ministry of Agriculture and Food Security. And that is what we told them (Emefiele-led CBN) from the beginning to channel all this thing, all interventions through the Federal Ministry of Agriculture for institutional memories. “The CBN, did it have any agro expertise on it’s management’s team? No? So, he should have rooted it through the Federal Ministry of Agriculture. And now, the failure of the ABP is the reason food security is at stake in the country because all those who collected the loans were not genuine Nigerian farmers.”

Read Previous

Oil & Gas: Female Engineers Laud Tinubu Over Executive Order

Read Next

AFCON 2023: Troost-Ekong Reveals How He Endure To Play Through Injury