Home Blog CBN disburses N43.92bn on ABP

CBN disburses N43.92bn on ABP


THE Central Bank of Nigeria ( CBN) yesterday disclosed it has disbursed over N43.92 billion to active farmers un- der the Anchor Borrowers Programme ( ABP).

The apex bank, in addition has facilitated the refund of over N50 billion, representing excess bank charges to bank depositors whose complaints were brought to the attention of apex bank’s Consumer protection depart- ment.

The Central Bank Governor, Godwin Emefiele who disclosed this yesterday in Abuja, described the bank’s Anchor Borrowers Programme as a huge success.

Represented by Acting Director, Corporate Communi- cations, Isaac Okorafor Emefiele said the N43.92 billion was released to active farmers through 13 participating banking institutions.

Speaking during CBN’s special day at the on- going 12th Abuja International Trade Fair, the governor said over 200,000 small holder farmers from 29 states of the federation benefited from the scheme while 233,000 hectares of farm land were cultivated with eight com- modities which include, rice, wheat, maize , cotton , soya-beans, poultry; cassava and ground nuts in addition to fish farming.

While reflecting on effect of forex procurement ban slammed on certain commodities, the governor said the decision has produced positive outcome.

“It’s pertinent to mention here that, so far, there has been a quantum leap in local production of most of the commodities contained in the list of 41 items not eligible for official forex allocation or access in the country…”