Close Menu
Chronicle.ng
    Trending Stories
    NLC threatens to shut down Abuja after July 3 over unpaid wages

    NLC vows protest if NASS attempts to decentralise minimum wage

    July 5, 2025
    Kwankwaso slams defectors leaving NNPP for APC

    2027: Kwankwaso will not contest against Tinubu on our platform – NNPP

    July 5, 2025
    Family, fans, football stars gather for Diogo Jota, brother's funeral

    Diogo Jota, Andre Silva buried amid tears

    July 5, 2025
    Facebook X (Twitter) Instagram
    Trending
    • NLC vows protest if NASS attempts to decentralise minimum wage
    • 2027: Kwankwaso will not contest against Tinubu on our platform – NNPP
    • Diogo Jota, Andre Silva buried amid tears
    • Aregbesola warns ADC supporters against fighting APC followers
    • Ahmed Musa named Kano Pillars general manager
    • Tinubu will lose 2027 election even if his son is INEC chair – Dalung
    • Family, fans, football stars gather for Diogo Jota, brother’s funeral
    • Diogo Jota’s song resonates among fans worldwide
    Facebook X (Twitter) Instagram
    Chronicle.ngChronicle.ng
    Subscribe
    Saturday, July 5
    • News
      • Nigeria News
      • World News
      • Headlines News
    • Politics
    • Business
    • Sport
    • Entertainment
    • Contact Us
    Chronicle.ng

    CBN disburses N948bn to smallholder farmers nationwide

    Chronicle EditorBy Chronicle EditorApril 2, 20221 Comment2 Mins Read
    Facebook Twitter Telegram WhatsApp
    CBN withdraws license of 146 financial Institutions Former CBN Governor, Godwin Emefiele is facing corruption charges
    Former CBN Governor, Godwin Emefiele is facing corruption charges
    Facebook Twitter WhatsApp

    The Central Bank of Nigeria (CBN) says it has disbursed N948 billion to 4, 478, 381 smallholder farmers under the Anchor Borrowers’ Programme (ABP) across the country.

    The Director, Corporate Communications Department, CBN, Mr Osita Nwanisobi disclosed this on Friday in Enugu during the ongoing Enugu International Trade Fair.

    The News Agency of Nigeria (NAN) reports that the ABP is an agricultural loan scheme launched in 2015 by the Federal Government through the CBN.

    The main aim of the programme is to boost agricultural yields, halt large volumes of food importation and address negative trade balance.

    Meanwhile, Nwanisobi said that the smallholder farmers who benefited from the scheme cultivated 5.2 million hectares of farmland across the country, thereby, creating over 12.5 million direct and indirect jobs.

    Under the CBN targeted Credit Facility designed to cushion the effect of the coronavirus pandemic, the director said that the apex bank had disbursed N368.79 billion to 778, 000 beneficiaries.

    • CBN disbursed N1.3trn to support power supply

    He said that the beneficiaries comprised 648, 052 households and about 130, 000 Small and Medium Enterprises.

    “Specifically, the bank disbursed N1.452 trillion to 337 large real sector projects in agriculture, manufacturing, services and mining under Real Sector Support Facility (RSSF),” he said.

    Nwanisobi said that the apex bank did it through its developmental role as enshrined in the CBN Act 2007 (as amended) led policy and financing support to about 40 interventions.

    He said that the interventions were executed through the bank’s development finance initiatives.

    He mentioned some of the initiatives to include the RSSF, the Agri-business/Small and Medium Enterprises Investment Scheme and the Non-oil Export Stimulation Facility among others.

    Earlier, the President, Enugu Chamber of Commerce Industries, Mines and Agriculture (ECCIMA), Mr Jasper Nduagwuike, applauded the CBN for its various intervention efforts.

    Nduagwuike urged the CBN to redouble its efforts in bank supervision.

    “There must be a way the CBN will control the activities of fraudsters in the financial circle.

    “Ponzi schemes seem to have a way of dodging the organisation until it has wrecked huge financial damage to individuals and the economy,” he said.

    The ECCIMA president said that ECCIMA was proud to be associated with the bank.

    (NAN)

    Share. Facebook Twitter Telegram WhatsApp

    Keep Reading

    NLC threatens to shut down Abuja after July 3 over unpaid wages

    NLC vows protest if NASS attempts to decentralise minimum wage

    Kwankwaso slams defectors leaving NNPP for APC

    2027: Kwankwaso will not contest against Tinubu on our platform – NNPP

    Family, fans, football stars gather for Diogo Jota, brother's funeral

    Diogo Jota, Andre Silva buried amid tears

    Opposition Coalition: Aregbesola pledges party reform, accepts role as ADC interim secretary 

    Aregbesola warns ADC supporters against fighting APC followers

    Benue Massacre: Tinubu holds town hall meeting, visits victims’ families

    Tinubu will lose 2027 election even if his son is INEC chair – Dalung

    Tinubu lands Dar es Salaam for Africa energy summit

    Tinubu arrives Brazil for 17th BRICS Summit

    View 1 Comment
    Leave A Reply Cancel Reply

    Subscribe to News

    Be the first to get the latest news updates from ChronicleNG about world, sports, politics etc

    NLC threatens to shut down Abuja after July 3 over unpaid wages

    NLC vows protest if NASS attempts to decentralise minimum wage

    July 5, 2025
    Kwankwaso slams defectors leaving NNPP for APC

    2027: Kwankwaso will not contest against Tinubu on our platform – NNPP

    July 5, 2025
    Family, fans, football stars gather for Diogo Jota, brother's funeral

    Diogo Jota, Andre Silva buried amid tears

    July 5, 2025
    Opposition Coalition: Aregbesola pledges party reform, accepts role as ADC interim secretary 

    Aregbesola warns ADC supporters against fighting APC followers

    July 5, 2025
    Ahmen Musa condemns Plateau massacre, calls for peace

    Ahmed Musa named Kano Pillars general manager

    July 5, 2025
    Facebook X (Twitter) Instagram
    • Politics
    • News
    • Sports
    • Business
    • About Us
    © 2025 ChronicleNG

    Type above and press Enter to search. Press Esc to cancel.