CBN Loan: Kebbi Recovers 1 Billion Naira
They failed to understand the difference between a loan and aid.
They imagined Buhari was given out money for free from the Central Bank of Nigeria.
Even though some rice farmers would rather keep the loan and the profit, some who have complied with repayment. At least 1 Billion has been returned.
The money is part of the sum the CBN gave to rice farmers to boost production through its Anchor Borrowers’ programme.
Kebbi State Government said the money was recovered from 78,500 farmers.
The State Deputy Governor, Samaila Yombe, made the disclosure to newsmen in Bagudo on Wednesday.
He said the government has taken steps to fully recover the loan from all beneficiaries.
The government had threatened to prosecute 11,541 farmers who took the loan for rice production in Suru Local Government Area, but failed to pay back.
“We have to take steps to ensure that we prosecute whoever fails to repay his or her loan.
“There is no way you can take loan from the bank and refuse to pay back after undertaking to abide by the agreed terms on the loan,” he said.
Yombe said the state government is not using the judiciary to coerce and humiliate people, but to ensure that the agreement on the loan was adhered to.
“We are not here to make people angry or incarcerate them.
“Rather, we as the intermediary, want to ensure adherence to the agreement entered between our farmers and the CBN,” he said.
The deputy governor promised that the state government would sustain the Anchor Borrowers’ programme, despite the current challenges of non-repayment by some beneficiaries.