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Wednesday, 30 August 2017
CBN, Sterling Bank support 22,000 farmers in Kebbi with agriculture loan
No fewer than 22,000 farmers in
Kebbi State are to benefit from the Central Bank of Nigeria (CBN)’s anchor
borrowers programme aimed at increasing the cultivation of rice in Nigeria.
The loan anchored under Nigeria incentive-base risk sharing system for
agriculture lending (NIRSAL) will be
disbursed to beneficiaries by Sterling Bank Plc.
Speaking during an interactive
session with Nirsal officials in the state, the bank’s head of new business
sales, Adewale Adebowale said each beneficiary will get a N250,000 loan.
He said the loan would cover
the cost of preparation and supplies of farm inputs needed for rice cultivation
within their localities.
Adebowale further said
arrangement has been concluded to engage the farmers in perfecting their
account details with the bank, adding that, this would enable them to access
the loan with ease.
“Our bank is currently working
with other stakeholders to make the programme a success. We are taking banking
to the people, as our team are on ground to engage the farmers in perfecting
their account details for the disbursement.
“About 15,000 of them have
already been captured. Their accounts are ready to accommodate the disbursement.
What we need is the update of
the remainders using our mobile Bank Verification Number (BVN) machine deployed
to the field. As we engage the farmers we issue debit cards to them,” he
He also said an Extensive Agent
Network (EAN) has also been put in place to ensure that farmers in the rural
areas have urgent and easy access to their loans without using the Automated
Teller Machine (ATM).