Fulani herdsmen force N379bn debt on CBN’s ABP as farmers desert farms
The Central bank of Nigeria recorded a shortfall of N378.5bn in loan repayment by beneficiaries under the Anchor Borrower’s programme (ABP) in six years, data obtained from the findings apex bank have shown. Between November 2015, when the ABP scheme…
Heritage Bank, GCMX move to drive Nigeria’s agro-commercial hub
Strategic growth is underway for the nation’s agricultural sector as Heritage Bank Plc, now the lead settlement bank for Gezawa Commodity Market (GCMX) has collaborated with key stakeholders to revolutionise agricultural value-chain. Part of the key aims amongst others is…
Failure of ERGP may haunt planned new economic development plan—Expert
Development indicators over the last four years of the just ended Federal Government economic development blueprint, the Economic Recovery and Growth Plan (ERGP) launched in 2017 are showing strong signals that it may have failed to deliver good results after…
Can CBN recover unsecuritized ABP’s loans in the north as it targets N’Delta rice farmers?
More than two weeks after the news broke that the Central Bank of Nigeria (CBN) is dragging about 70,000 rice farmers in Kebbi State to court for defaulting Anchor Borrowers Programme (ABP) of the bank, the apex bank has again,…
(Special Report) Is Emefiele’s CBN thinking outside or inside the box?
This may be shocking to many, but the truth is that a larger section of public finance experts are still baffled on why the Central bank of Nigeria (CBN) Governor, Mr Godwin Emefiele was retained and given another term of…
Tomato Jos Processing Group plans N7bn investment in five years
The Managing Director of Tomato Jos Farming and Processing Limited, Miss Mira Mehta has disclosed that the company will in the next five years invest N7 billion as part of corporate plan to scale up its investment in tomato farming…
With 11 out of 34 rice mills, Kano becoming Nigeria’s Rice capital
…As fear of not recovering N146bn Rice ABP’s loan weakens FG price control Recent tour of Kano on assessment of the impact of the border closure on the entire rice production value chain, has revealed the deepening intensity of rice…
Global Cocoa conglomerate shuns Nigeria, invests $113m in Cote d’Ivoire, Ghana
Heavy blow has been done to the agro-driven President Muhammadu Buhari’s economic diversification lately as leading world cocoa and chocolate company, Cargill says it will invest a total of $113 million in the world’s two largest cocoa producing countries, Cote…
Self-financed rice farmers’ in cold war with ABP debtors’ over price crash
A serious cold war is brewing across the Nigerian rice producing enterprises between private investors’ without any form of assistance from the Central Bank of Nigeria’s (CBN) Anchor Borrowers Programme (ABP) and beneficiaries of the scheme. Whereas private investors are…
Why CBN was weak in regulating exorbitant prices of local rice
Only recently, the Central Bank of Nigeria (CBN) released its third quarter report on the performance of the Commercial Agricultural Credit Scheme (CACS). The report showed that “At end-September 2019, the total amount released since inception by the CBN under…
