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By Akpan David, Calabar
Farmers in Cross River State have repaid over one Billion Naira agricultural loans from the Central Bank of Nigeria (CBN).
Five of them have received special awards in monetary forms and certificates for utilising and promptly repaying the said loans.
These events held today in Calabar where the apex bank held award ceremony for farmers in the state.
Th farmers obtained the loans under the Agricultural Credit Guarantee Scheme Fund (ACGSF) initiated by the CBN to aid Agric sector.
Chairman of ACGSF, Mr Peter Stephen Okon said 10,635 loans valued at One Billion, Sixty Five thousand Naira were repaid under the scheme in Cross River State.
“These records speak volume of the level of commitment of the officers in the State as well as determination of the farmers to utilize the opportunities offered by the scheme to empower themselves and improve their lot.
“We do hope that before long, farmers in your state will enjoy the benefits of the new Amended Act.”.
The Board Chairman stressed that a total of 1,224,795 loans valued N129.084b were guaranteed from inception to February 2022.
He further said “It is noteworthy that Cross River State from January to February 2022 has guaranteed a total of 73 loan beneficiaries under the scheme, valued N24.300m.
“This brought the total guaranteed loans in Cross River State from inception of the scheme in 1978 to February 2022 to 18,406, valued N2.305b.
“Under the new ACGSF Amendment Act 2019 the maximum for non-collateralized loan has increased from N20,000.00 to N100,000.00 and maximum for collateralized loan from N10 million to N50 million.
Speaking, Branch Controller of CBN Calabar, Mrs. Glory Iniuanam, called on the banks, State officials and other relevant agencies to continue to assist the farmers through credit delivery and advisory services in order to help them develop their agricultural potentials to the fullest.
Three farmers from the state won CBN awards for prompt repayment of ACGSF loans.
Another farmer, Mrs Henrietta Godfrey also won the award of the best farmer of the year 2021.
Mr Udoh Augustine won the first runner up while Mrs Glory Ekong won the second runner up.
