CBN turns down loans for 100,000 farmers in Adamawa

The Adamawa State Governor, Jibrillah Bindo, has expressed his dissapointment over the Central Bank of Nigeria’s rejection of about 100,000 farmers’ participation in the “Anchor Borrowers Programme’’ due to hitches in their registration.

Bindo made this known in Yola, the state capital, on Thursday during the presentation of fertilisers and herbicides to registered beneficiaries to kick off the scheme.

Adamawa State Governor, Jubrilla Bindow
Adamawa State Governor, Jubrilla Bindow

Bindo said, “I am worried and disturbed that about 100,000 farmers captured in the national anchor borrowers initiative in the state were rejected by the CBN due to lack of Bank Verification Number.

 

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“There is need for the state Ministry of Agriculture and farmers’ associations to closely work together and sensitise the farmers to avoid this rejection in future.’’

 

He said the 28,000 farmers that were successfully approved were not enough for the state, adding that more efforts should be made to register more.

 

The governor noted that the money meant for Adamawa State under the initiative was with the CBN but he assured the people that efforts would be made to enable the farmers to get it.

 

 

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