Delta Fish Farmers Get N1.2BN CBN Loan – BOA

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The Bank of Agriculture, BOA, has said that fish farmers in Delta State have received N1.2 billion loan under the Anchor Borrowers’ Programme, (ABP) of the Central Bank of Nigeria, (CBN).

BOA Loan Officer in Asaba, Ambrose Nwabuzor, while stating this said the BOA assisted the farmers in securing the loan under the private window of the ABP, adding that the loan beneficiaries had presented adequate securities which made access to the loans possible.

“Under the private window, we have secured the release of N1.2 billion to eight anchors that came together to form a fish farm. Each of the anchors gave us an irrevocable post-dated cheque (security) and they profiled their farmers,” Nwabuzor said.

He noted that the bank was working to ensure the release of loans for the anchor off-taker in fisheries, adding that the off-taker had provided security for the loan.

The BOA Loan Officer noted that the Delta State Government had keyed into the state window of the ABP to produce oil palm, rice cassava, and fish.

He lamented that the long maturity period of oil palm had excluded the crop from the programme.

“So, we have only three items in the programme, but unfortunately the state has not been able to secure an anchor off-taker for cassava and rice. So, no money has been released to BOA for payment of input suppliers and farmers in the state,” he said.

He, therefore, urged the state government to play the role of an anchor off-taker under the scheme by providing BOA with an Irrevocable Standing Payment Order, adding that the document would facilitate loan recovery from farmers.