‘CBN’s Anchor Borrowers’ Programme Has Created 1.5 Million Jobs
The Anchor Borrowers’ Programme is an initiative by the Central Bank of Nigeria to empower farmers, especially cash crop farmers.
The implementation of the initiative started three years ago and over 250,000 farmers are said to have benefited.
This has resulted to the creation of over 1.5 million indirect jobs, according to the Nigerian Incentive-Based Risk Sharing System for Agricultural Lending, NIRSAL.
The organization, which oversees the scheme for the CBN disclosed this on Sunday in a statement signed by its Head, Corporate Communications, Anne Ihugba, in reaction to claims that NIRSAL was delaying the release of funds for the programme.
NIRSAL stressed that it is committed to disbursement of farmers’ funds approved by the CBN within five days of receipt of applications from the apex bank.
It also assured farmers that under its window of the programmes that they would have access to their funds without delays.
“As an agricultural finance risk management organisation, NIRSAL is mindful of the various risks associated with yield and repayment capacity of the farmers,” NIRSAL said in the statement.
It added that no off-taker under the ABP would be allowed to hold farmers to ransom as existing clauses of signed tripartite agreements with various off-takers would be fully implemented.
It noted that farmers would get value for their produce in addition to sanctions for non-performance by off-takers.
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