ANCHOR BORROWER: CBN APPROVES LOAN FOR 200 ABIA STATE MAIZE FARMERS

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The Central Bank of Nigeria (CBN) has approved a loan facility for at least 200 maize farmers in Abia under its Anchor Borrower Programme on maize for the 2019 farming season, an official has said.

Celsius Agla, the Manager, Development Finance Office of CBN, Umuahia branch, said this on Thursday in his presentation at the CBN Fair organised in Umuahia, the Abia capital.

Agla said that farmers, whose applications were not approved, had issues with their Bank Verification Numbers (BVN), adding that they had to wait for next year.

Agla spoke extensively on the bank’s Anchor Borrower Programme on Rice, saying that the programme was initiated to boost local production of the commodity to stop its importation.

He said that the bank had identified oil palm and cassava production as two agricultural mainstay of Abia.

He said that the bank had begun to capture the number of oil palm farmers in the state for intervention.

He also discussed other interventions by the bank, including the Agricultural Business Small and Medium Enterprises Schme, Entrepreneurship Development Institute, among others.

Agla said that the bank was taking steps to address the identifiable challenges militating against the smooth implementation of some of the schemes.

Also, Mrs Ngozi Eze, Senior Manager, Currency Operations Department in the bank, spoke on the Clean Notes Policy of the bank.

Eze appealed to Nigerians to uphold the sanctity of the currency as the nation’s symbol and pride and desist from abusing the naira notes.

She listed ways the naira notes could be abused to include spraying at ceremonies, writing on the note, mutilation, trading on naira notes and counterfeiting the currency, among others.

Eze advocated the use of envelopes and wallets to keep the naira notes clean.

She warned that those caught abusing the naira notes would be prosecuted and liable to six months imprisonment or option of N50,000 fine, if convicted.

She said that the bank was using the media to disseminate information on the policy to the grassroots level.

Mr Nnanna Chukwu, the Senior Manager, Payment System Management, spoke on the alternative payment system, such as the mobile applications, Automated Teller Machines (ATM) and internet.

Chukwu said that the alternative payment system was introduced in line with the bank’s policy on cashless economy.

Mr Sam Okogbue, the Assistant Director, Corporate Communications Department, said that the CBN Governor, Dr. Godwin Emefiele, introduced a policy to make CBN more people-focused.

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1 Comment
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