Default in repayment threatens CBN anchor borrowers programme
The refusal of rice farmers to repay loans collected under the Anchor Borrowers Programme (ABP) of the Central Bank of Nigeria (CBN) in Kano and other states is threatening the initiative.
Kano State Commissioner for Agric and Natural Resources, Dr. Nasiru Yusuf Gawuna lamented that the state’s debt portfolio stands at over N1 billion from the demand notice issued it from the CBN on loan default from rice farmers from the state.
Addressing Feeding Nigeria Forum in Lagos, Gawuna said the state government was ready to persecute affected farmers to compel them to repay the loans.
Expressing displeasure over the default, the commissioner said the level of response was not encouraging.
He said the farmers would be prosecuted for defaulting, adding that the farmers have to pay up the loan or face legal action.
Thenationonlineng.net
