CBN integrates 850.000 farmers in anchor borrowers’ programme

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CBN integrates 850.000 farmers in anchor borrowers’ programme

By Udeme Clement

 

CBN Governor:

The Central Bank of Nigeria, CBN, has integrated over 850.000 farmers in Nigeria into the mainstream of its Anchor Borrowers’ Programme, in a bid to boost the growth of agricultural sector of the economy.

The Governor of CBN, Mr. Godwin Emefiele, made this known through his representative, the Deputy Director of Development Finance department, CBN, Mr Osita Nwanisobi, at a conference in Lagos.

According to him, the Anchor Borrowers’ programe was introduced by the Apex Bank to give financial support to small scale farmers in the country, and as at October, 2018, over 850.000 local farmers have benefited from the scheme.

In the same vein, he explained that the Monetary Authority is working assiduously to achieve 20 percent financial inclusion in Nigeria by 2020 economic year.

This, he said is being done by creating non-interest window for development of financial interventions, which would meet the needs of a large segment of Nigerian population.

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