Anchor Borrowers Programme Empowers Nigerians

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CBN-SKYTREND

Anchor Borrowers Programme Empowers Nigerians

The Central Bank of Nigeria (CBN) has said 255 private and 14 state government anchors have so far participated in Anchor Borrowers’ Programme as at June, this year. This is in addition to 1,140,854 farmers producing 17 different agricultural commodities.

Its Director, Corporate Communications Department, Isaac Okorafor who spoke in Abuja on Thursday during the bank’s special day at the on-going Abuja International Trade Fair, said the CBN has 29 intervention programes targeted at various stakeholders groups, such as framers, women, youth, and Small and Medium Scale Enterprises (SMEs).

“Some of these interventions, which had contributed significantly in driving Nigeria’s economic growth and development include, the Micro, Small and Medium Enterprises Development Fund designed to chanel low interest funds to the NSMEs  sub- sector to enhance access by entrepreneurs, especially women and people living with disability,” he explained.

Other interventions of the apex bank, Okorafor said include Commercial Agricultural Credit Scheme which commenced in 2009 to fast track development of agric sector.

He said a total of 132,260 jobs have been created along the various agricultural value chains through the Commercial Agricultural Credit Sheme of the Central Bank of Nigeria.

The jobs were created through the bank’s Commercial Agricultural Credit Scheme that commenced in 2009 to fast-track the development of the agricultural sector. the scheme provides credit facilities to commercial agricultural enterprises at a single digit interest rate.

He said the figure was compiled since the inception of the project in 2015 to June 2019.

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