Business
N200bn Fund: Why Farmers Prefer Union Bank
In view of Union Bank’s unflinching finance of agriculture in the country, Nigerian farmers, under the aegies of All Farmers Association of Nigeria (AFAN), have recommended that the bank should be given a key role in the disbursement of the Federal Government’s N200 billion agricultural intervention funds.
The chairman of AFAN, Dr Abdullah Adamu, stated this in Abuja at the reception organised by the bank in honour of the Central Bank of Nigerian (CBN) Award – winning farmer as the small and Medium Scale Entrepreneurs in Abuja. Adamu said, “Union Bank should be made to play key roles in the disbursement of the Federal Government N200 billion agriculture intervention funds, considering its flair for agricultural financing”.
Adamu commended Union Bank for “ranking agriculture as one of the fundamental aspects of its commercial banking. With this Union Bank has emerged the first in agriculture financing in the nation’s financial sector”.
He stated that commitment such as displayed by Union Bank was what the real sector of the economy needed for growth.
The Group Managing Director/CEO of the bank, Dr Barth Ebong, said the sincerity of the farmers was partly responsible for the success of the scheme.
“The farmers by Union Bank are loyal and faithful. They have made the recovery of agriculture credit rate the highest in the industry”.