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The House of Representatives Committee on Nutrition and Food Security at the National Assembly said last Monday that fifteen (15) institutions were unable to provide sufficient evidence of how they disbursed the Central Bank of Nigeria ( CBN) N1.2 trillion Anchor Borrowers loan meant to enhance agricultural value chains instituted during the administration of former President Muhammadu Buhari.
The chairman of the committee, Hon. Chike Okafor revealed that only nine institutions out of twenty-four ( 24) disbursement channels that CBN used during the period were able to provide evidence of money given out, while the remaining 15 could not.
Okafor stressed that the probing is extending to Nigeria Incentive-Based Risk Sharing System for Agricultural Lending ( NIRSAL) Microfinance Bank and Bank of Industry ( BOI) for lending N215 billion on agric businesses and N3 billion to about 22,120 smallholders through the Agriculture Value Chain Financing program respectively.
The committee chairman said that " We are probing how the CBN through the Anchor Borrowers Program disbursed about N1.2 trillion to 4.67 million farmers in either maize, rice, or wheat farming through 563 Anchors
" We are also probing how NIRSAL disbursed N215,066,982,074.50 so far to facilitate agriculture and agric businesses. And also the Bank of Industry, it disbursed N3 billion to 22,220 smallholder farmers through the Agriculture Value Chain Financing AVCF program.
Recalled that the Food Farm News had in one of its past editorials alerted the consciousness of farmers to ensuring loan repayment against a day like this.
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