Tinubu orders immediate recovery of N1.9tr Anchor loan

In a bit to match words with action on the state of emergency declaration on food security, President Bola Ahmed Tinubu has given a fresh order for immediate recovery of N1.9 trillions being loan disbursement by Central Bank of Nigeria (CBN) through the agricultural Anchor Borrower Program ( ABP)  to small scale farmers under Associations

The CBN anchor borrower programme was launched in Kebbi state in 2015 by the former president Muhammad Buhari to boost agricultural productivity through unfettered access of Farmer Associations to loans.

President Tinubu' s call for immediate recovery according to some agricultural stakeholders who wanted their names not mentioned said there is no way the state of emergency declaration on food security will effectively work without proper auditing of loans given out to associations and individual farmers, just as cross checking all implemented programs in the last eight years is very important.

One of the speakers hailed the president's directive as a right step that will make stakeholders believe in his drive to ensure food security.

Another one said it was laughable to note there is nothing to show in view of the humongous amount of naira spent on food security through the CBN ABP by the FG, saying it is a shame with the high rate of food prices in the country.

Many of them said that the failure of food system was due to many reasons with pure misappropriation of the funds by the CBN officials in connivance with some commodity leaders who defrauded through inputs, land clearing and insurance charges as they stylishly avoided Nigerian Agricultural Insurance Corporation ( NAIC) in order to perpertuate the evil act.

They added that the matching order of Mr. President on the loan recovery will soon lead to  findings where all the funds are channelled without achieving food security.

Stakeholders pointed out that they are very sure the President will not let the loan disbursement on Anchor Borrower go unqueried, saying the state of emergency on food security was an evidence to His Excellency new directive of immediate recovery under two weeks that will lapse by the 18th of this month.

Already, some leaders of commodity Associations  are already undergoing questioning DSS office at Abuja according to Food Farm News findings.