CBN Disburses N1.2bn To Katsina Farmers

A total of 6,590 loans worth N1.2 billion were disbursed to farmers in Katsina in 2012, the Central Bank of Nigeria (CBN) said  last Thursday.

The Katsina Branch Controller, Alhaji Adamu Hassan, said this in Katsina at a Bankers and Customers Forum.

He said the loans were disbursed through Deposit Money Banks (DMBs) and Microfinance Banks under the Agricultural Credit Guarantee Scheme (ACGS) of the apex bank.

He said that CBN recovered N821 million during the period under review and that the state was rated the highest performer in loans guarantee and recoveries.

Hassan also said the state government was participating in the Nigeria Incentive-Based Risk Sharing Agricultural Lending (NIRSAL) programme and the Growth Enhancement Support (GES) scheme.

He said that through the programmes, the bank would support cotton production, being one of the major crops produced in the states.

According to him, the United Bank for Africa (UBA) has approved N1 billion loan to cotton farmers in the state.