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· Says banks agree on 9% single digit
 |
| Minister of Agriculture, Chief Audu Ogbeh |
The minister
of Agriculture, Chief Audu Ogbeh has implored Nigerian farmers to purchase
shares in the Bank of Agriculture (BOA) as the process to conclude the reform
and repositioning of the financial institution which would commence before
Christmas of 2018.
Chief Ogbeh
added that commercial banks had also agreed to 9% single digit lending to
agriculture and that the committee of bankers had communicated this through the
Central Bank of Nigeria (CBN).
Speaking to
the gathering of agricultural tractor owners and operators in Abuja, Chief
Ogbeh said that the current commercial banks interest rate of 25-30% on
agriculture could not be of any economic benefits to anybody, thereby proffered
the need for farmers’ bank through the buying of shares in the BOA by the time
the process would commence.
What happened to the Federal Government financial injection to the bank ?
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