Rivers
ACGSF: CBN Releases N130bn Yearly To Farmers
The Central Bank of Nigeria (CBN) says it has made a yearly release of over N130 billion as interest draw back to farmers under the Agricultural Credit Guarantee Scheme Fund (ACGSF) since 1979.
The Head, Development Finance Office (DFO), Mr. Oruveigha Stanley, disclosed this, Thursday, in Port Harcourt at the 2021 ACGSF best farmers of the year and Participate Financial Institution (PFI) annual award in Port Harcourt.
He said the scheme was initiated by the Bank to encourage farmers across the country.
“What we have released or given yearly from 1979, what we have given as interest draw back paid to farmers that were part of the scheme from 1978, the cumulative Figure each year we do and we add to it that figure.
“That is the one that I told you is about #130 billion under the ACGSF cumulatively. So, next year will be added to this one, “he said.
He also said over one million farmers have benefitted from the scheme, adding that the programme is not only in Rivers State but across the nation.
Noting that the event was to honour farmers who meet the expectation in the period under review, Stanley commended Lapo Micro Finance Bank for its partnership with the CBN for the implementation of the scheme.
According to him, the target of the CBN is to see that one thousand farmers or more benefit from the scheme in Rivers State.
The DFO also urged the management of the Rivers Micro Finance Agency (RIMA) to get involve in the programme with the view to implementing the poverty alleviation programme of the State Government.
Also speaking, Permanent Secretary, Rivers State Ministry of Agriculture, Mr. Maurice Ogolo, said the State will key into the programme next year.
Ogolo also said Rivers State is doing well as far as agriculture was concern.
Dignitories at the event include the Port Harcourt Branch Controller of the CBN, Oke Chuks Godfrey, represented by George TomGeorge, Head, Branch Support Office, CBN.
Awardees at the event were Mr. Alia Abazua Ijajico, who emerged as best farmer of the year 2021; Mrs. Nwator Ngozi, who emerged first runner-up; and Okoro Samuel, who emerged second runner-up.
The participating financial institution award went to Lapo Microfinance Bank.
By: John Bibor & Oribim Ibama
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