Anchor program:How CBN officials use inputs, mapping, mechanization to rip off farmers

The popular Anchor Borrower Program (ABP) of the Central Bank of Nigeria ( CBN) has been ridden with fraud through inputs procurement on behalf of farmers, land mapping and clearing that was tagged mechanization.

Foodfarmnews has gathered that CBN officials had cleverly used some agricultural commodity Associations' leaders to perfect their cheating strategy through the procurement of inputs, mapping and mechanization as figures were outrageously increased for self benefits against farmers.

Happenings in some of these commodity associations have revealed that a quite number of them have compromised the ABP at the detriment of farmers under the premises of inputs, mapping and mechanization procurements.

Findings revealed there were figures inflation under the three mentioned templates in the name of consultancy given to friends and cronies in order to ensure their devilish intention to undermine the program are made possible.

Cases of Economic Financial Crime Commission (EFCC) interrogations of some of the leaders of these agricultural commodities have proven the incidences of fraud connivance in the CBN ABP according to a source who didn't want his name to be mentioned.

The source added that one Professor who is president of maize related commodity Association is being currently squeezed by EFCC with a recovery of fifty thousand dollars and some valuable properties recently purchased by him in a high brow area of Abuja city.

This happened according to him almost across some of the commodity Associations as their leaders are being invited for questioning by  the anti graft agency based on issue related to misappropriation of ABP fund releases.

Even many farmers have criticized the program of frauds saying the CBN officials had manipulated the program through their close allies in the name of inputs procurement, mapping of land mapping and mechanization.

It was also gathered that the ABP was not properly monitored as CBN tactically disallowed Federation of Commodity Associations ( FACAN), the apex body of these associations from performing this monitoring duty that may have saved the nation all these troubles.