Business
‘Banks, Govt Officials Frustrating Anchor Borrowers Programme’
National Treasurer, Rice Farmers Association of Nigeria (RIFAN), Malam Sadiq Daware has accused some banks and government officials of frustrating the successful implementation of the Anchor Borrowers Programme (ABP).
The National Treasurer of RIFAN, Malam Sadiq Daware, told newsmen in Abuja last Thursday that many farmers had complained that they were unable to access the loan of ABP, executed by the Central Bank of Nigeria (CBN).
He said that other farmers complained that they were not given the agreed money to facilitate the cultivation of their rice farms.
Daware said that even though CBN had released N43.92 billion to farmers under the ABP through 13 participating institutions, some people were frustrating the efforts of the farmers to access the facility.
He also said it was so unfortunate that some financial institutions were not farmer friendly due to their complicated transaction procedures and their non-consideration of the gestation periods of crop growing.
Daware said that all the previous efforts of small-scale farmers to access various agricultural credit schemes of the government had yielded insignificant results because of the unwillingness of the banks to cooperate with them.
He said some of the banks insisted that CBN had not given them specific guidelines on how to disburse the funds meant for small-scale farmers.
He said that the farmers were compelled to fill pages of forms in the documentation process, in spite of the fact that most of the smallholder farmers were illiterate, thereby frustrating the process.
Daware said that now that some of the bottlenecks had been addressed, banks were, nonetheless, delaying the process.
He said that investigations revealed that most of the government officials working under the ABP were not showing much interest in the schemes or giving the necessary assistance to the farmers.
The RIFAN official said that under the programme, some farmers were given fertilisers while others were denied access to other inputs, adding that the inputs distribution process was also haphazard.
Daware said that in some cases, the farmers were not given the financial component of the loan, thereby frustrating the farmers’ plans to start cultivation in a particular season.
“The issues are being addressed by RIFAN at all levels, while farmers have been advised to ensure that they meet the bank’s preconditions for the loan.
“The failure to meet the stipulated conditions is part of the reasons behind the delay in the disbursement of funds but the programme will not fail,’’ he said.
He said that RIFAN had intervened in various states to ensure the successful implementation of the ABP and promote adequate rice production in the country.