Agro Hub Nigeria

The Central Bank of Nigeria (CBN) has guaranteed that the agricultural and manufacturing sectors will enjoy single digit interest rates, this  it believes would fast track lending of a reserved special intervention fund set aside for the sectors. The CBN has set aside N235 billion and N750 billion as intervention funds for the manufacturing and agricultural sectors respectively, which it describes as pivotal in the  revitalization of the nation’s recessing  economy. The CBN Director, Banking Supervision, Mrs. Tokunbo Martins, made this known in Abuja, while addressing newsmen on the outcome of Bankers’ Committee meeting. She also disclosed  the joint decision by CBN and Bankers’ Committee to increase limit of banks’ FOREX sale to Bureaux De Change (BDCs) to $50,000 from $30,000 it was two weeks ago. Mrs Tokunbo Martins was accompanied to the briefing Group Managing Director of United Bank for Africa (UBA), Kennedy Uzoka, Zenith Bank Group M...

About 75,000 wheat farmers under the umbrella of  Wheat Farmers Association of Nigeria (WFAN) in Kano State are to benefit from the Central Bank of Nigeria’s (CBN) facilitated borrowers scheme. The registration of farmers for this programme has commenced and beneficiaries are expected to use the loan to cultivate the commodity throughout this year’s dry season. Speaking about the registration of farmers ahead of the programme, the Kano State chairman of WFAN, Alhaji Faruk Rabi’u said the decision to commence the registration was borne out of the  Association’s effort to process the loan early, to enable farmers prepare before the dry season. According to the WFAN chairman, farmers are required to open an account with one of the commercial banks as one of the conditions before accessing the loan. “We want to make sure that all registered farmers fulfill the conditions for accessing the loan before the dry season farming commences,” he said....

About 75,000 wheat farmers under the umbrella of  Wheat Farmers Association of Nigeria (WFAN) in Kano State are to benefit from the Central Bank of Nigeria’s (CBN) facilitated borrowers scheme. The registration of farmers for this programme has commenced and beneficiaries are expected to use the loan to cultivate the commodity throughout this year’s dry season. Speaking about the registration of farmers ahead of the programme, the Kano State chairman of WFAN, Alhaji Faruk Rabi’u said the decision to commence the registration was borne out of the  Association’s effort to process the loan early, to enable farmers prepare before the dry season. According to the WFAN chairman, farmers are required to open an account with one of the commercial banks as one of the conditions before accessing the loan. “We want to make sure that all registered farmers fulfill the conditions for accessing the loan before the dry season farming commences,” he said....