CBN Approves N55bn Loan For 250,000 Nigerians Youths, See What The Money Is Meant For

cbn approves n55bn loan

CBN Approves N55bn Loan For 250,000 Nigerians Youths, See What The Money Is Meant For

Close to 250,000 farmers from 34 states have accesses over N55 billion loan from Central Bank of Nigeria (CBN) for the Anchor Borrowers’ Programme (ABP) since it commenced two years ago.

ABP, which was launched on November 17, 2015, by President Muhammadu Buhari in Kebbi State was designed to create economic linkages between farmers and processors for increased agricultural output.Acting-Director, Corporate Communications Department, CBN.

Mr Isaac Okorafor gave the figures on Wednesday during a media briefing on the implementation of the program.He explained that because of the need to ensure self-sufficiency in rice production for Nigeria to become a net exporter of the product, rice farmers alone got N44 billion or 80 percent of the loans.“It also goes to underscore the effectiveness and efficiency that the CBN has put into this program.

“We have about 250,000 who have also cultivated close to 300,000 hectares of farmlands and you can see the impact on the street”, Okorafor said.

CBN Approves N55bn Loan For 250,000 Nigerians Youths, See What The Money Is Meant For

President of Rice Farmers Association of Nigeria (RIFAN), Alhaji Aminu Gorongo who was present at the briefing told correspondents that ABP has now been repackaged such that it is now private sector driven.

According to him, the ABP partnership between the CBN and RIFAN will ensure that 200,000 farmers are given fresh funds to plant rice in the dry farming season in addition to another 500,000 farmers that will be inculcated in the wet farming season.

“We have started a collaboration with the CBN on this private sector is driven anchor borrowers program.
“We have launched this program and we want to put this country on the right part especially in the area of agri-business”, Gorongo disclosed.

Mr. Godwin Emefiele, the former Zenith Bank Plc Chief Executive assumed the mantle as the 11th CBN chief as well as its 10th indigenous governor. Emefiele, who replaced Mallam Sanusi Lamido Sanusi, whose tenure elapsed on June 1 brings to the job over 20 years of banking experience.

CBN Approves N55bn Loan For 250,000 Nigerians Youths, See What The Money Is Meant For

If you’d like to contribute to this project, you can use any of the addresses below to send us the respective currency.

  • Bitcoin
  • Ethereum
  • Cardano
  • Xrp
  • Polkadot
  • Binance coin
  • Litecoin
  • Stellar
  • Bitcoin cash
  • Dogecoin
Scan to Donate Bitcoin to 1LsJcYowirZ2ije43eNP6gaMas4oj7WWbS

Donate Bitcoin to this address

Scan the QR code or copy the address below into your wallet to send some Bitcoin

Scan to Donate Ethereum to 0xbde8c9b921675871e5e5f5e482e28967e7c14fff

Donate Ethereum to this address

Scan the QR code or copy the address below into your wallet to send some Ethereum

Scan to Donate Cardano to DdzFFzCqrhswq1Tjp1T2vmRzfwh9SnQVBmXJf8S2uUgBUGkCm7Vq7AfmCh51qmkumqjwWdsZt63vkdMM18xZB6V3CJtmuMZqxZT3Jivp

Donate Cardano to this address

Scan the QR code or copy the address below into your wallet to send some Cardano

Scan to Donate Xrp to rEb8TK3gBgk5auZkwc6sHnwrGVJH8DuaLh

Donate Xrp to this address

Scan the QR code or copy the address below into your wallet to send some Xrp

Tag/Note:- 106233731
Scan to Donate Polkadot to 148B6cpWfm9YZrgxwKyjWmi21c1KRoAj9HZWiYPnzzq6Jk2Q

Donate Polkadot to this address

Scan the QR code or copy the address below into your wallet to send some Polkadot

Scan to Donate Binance coin to bnb136ns6lfw4zs5hg4n85vdthaad7hq5m4gtkgf23

Donate Binance coin to this address

Scan the QR code or copy the address below into your wallet to send some Binance coin

Tag/Note:- 106248185
Scan to Donate Litecoin to LN8hr7y3M72DEirffydGpVCfMPNB7LRX4k

Donate Litecoin to this address

Scan the QR code or copy the address below into your wallet to send some Litecoin

Scan to Donate Stellar to GAHK7EEG2WWHVKDNT4CEQFZGKF2LGDSW2IVM4S5DP42RBW3K6BTODB4A

Donate Stellar to this address

Scan the QR code or copy the address below into your wallet to send some Stellar

Tag/Note:- 102345858
Scan to Donate Bitcoin cash to 1LsJcYowirZ2ije43eNP6gaMas4oj7WWbS

Donate Bitcoin cash to this address

Scan the QR code or copy the address below into your wallet to send some Bitcoin cash

Scan to Donate Dogecoin to DKaNUPje3xhHKyHk1U4s6v4vGcHW8MXbQU

Donate Dogecoin to this address

Scan the QR code or copy the address below into your wallet to send some Dogecoin

Be the first to comment

Best comments win big prizes here, so start commenting now! Something big is on the way