The Central of Nigeria (CBN), has called on beneficiaries of Anchor Borrowers’ Programme for rice production in Cross River, to pay back their loans to enable other rice farmers in the state benefit from the programme.
The state branch controller of CBN, Mr Chuks Sokari, who made the call at the inauguration of Wet Season Rice farming in the state by Gov. Ben Ayade at the weekend in Calabar, said he had received some complaints from some banks and farmers’ association that beneficiaries haven’t paid up till date.
Sokari said: “My colleagues from banks, NEXIM and then president of RFAN have emphasised the need for those who have benefited from the intervention by way of loans to repay because this is very important.
“It is not an endless thing, so the CBN needs you to reciprocate by paying back at least a maximum of nine per cent single digit interest on every loan that you take and so we expect that if you do that, we will reach out to the others who have not benefited and they are so many and we want to bring them on board.
“You also remember that CBN is very much involved in financial inclusion. So, the small farmer who is out there who benefits from this kind of activity has been included and with him or her the retinue of dependants.’’