Did you borrowed money from the Bank of Industry, BoI to invest in your farm and you have refused to pay back?

You should be worried - Magu and his merry men are coming for you.

In fact, the BoI said on Tuesday that it has been working with the EFCC in a bid to recover the outstanding loans.

The bank, which lamented the alleged refusal of the farmers to pay back the loans, also said it would involve the services of debt collectors to go after the defaulting farmers.

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The Branch Head, Ondo State Office of the BoI, Mrs. Marian Obada, said this at a meeting for female farmers which held in Akure, the Ondo State capital.

The programme was organised by the Justice Development and Peace Commission of the Catholic Diocese of Ondo.

According to the BoI boss, the bank was being owed hundreds of millions of naira by some farmers across the country.

“For the past two months now, we have been running jingles in the media to sensitise them (debtor farmers). What we want to do is that we will involve debt collectors but that one has additional cost on them (debtors) because they are the ones that will pay the bills of the debt collectors; so that is more burden upon them.

“If the involvement of debt collectors does not work, the next thing we will do is to involve the security agents, the EFCC is now with us; they have started working with us.”

She said the bank was assisting new farmers but stressed that the opportunity would not be available to farmers still owing the bank.

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