Kano to recover N900m loans from rice farmers

Kano to recover N900m loans from rice farmers

Saturday, September 2, 2017 4:18 pm

CBN head office in Abuja

The Kano State Government has set up a nine-man committee to recover over N900 million given as loans to rice farmers  under the Anchor Borrower Programme of the Central Bank of Nigeria(CBN).

Prof.  Mahmoud Daneji, the Managing Director of the state Agricultural and Rural Development Authority (KNARDA), disclosed this in an interview with the News Agency of Nigeria (NAN) in Kano on Saturday.

He said members of the committee included   representatives  of the CBN,  Bank of Agriculture(BOA)  and Rice Farmers Association of Nigeria (RIFAN).

Daneji said the committee was expected to visit the defaulting farmers in all the 44 local government areas of the state with a view to ensuring that they pay  the loan within the stipulated period.

According to him, the defaulting farmers have  been given up to the end of this harvesting  season to pay the loans or face prosecution.

“The farmers have up to the end of  the harvesting season to pay the loans or else the government will go ahead to recover the loans through  legal means,” Daneji said.

He lamented that a total of N906 million was disbursed to the rice farmers in the state but regretted that not up to N6 million was recovered.

The News Agency of Nigeria (NAN) recalls  that  the state chapter of  All Farmers Association of Nigeria (AFAN) recently  constituted  a similar committee with a view to recovering the loans.


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