‘Show Us Evidence’ – CBN Challenges AFAN On allegations It Disburse Funds To Fake Farmers

The Central Bank of Nigeria has denied disbursing funds under its Anchor Borrowers’ Programme (ABP) to non-farmers in the country.

This development followed allegations by the All Farmers Association of Nigeria (AFAN) that the apex bank gave out funds earmarked for farmers to non-farmers.

The association had accused the CBN of not releasing the database and names of beneficiaries, inciting suspicion in the operation of the scheme.

“That is why you see today that the CBN, NIRSAL, commercial banks, who were the channels for the distribution of this fund, are complaining that these beneficiaries are not repaying the loans,” the National Secretary, AFAN, Yunusa Yabwa noted.

The CBN while reacting to the allegation, described the claim as “totally false”, asking the association’s leadership to provide proof of disparity.

“Did he (Yabwa) give you any evidence to show that those who benefitted from the programme are non-Nigerians?” Osita Nwanisobi, CBN spokesperson said.

The Federal Government through the CBN in 2015 activated the ABP scheme under the CBN, targeted at providing farmers with the critical funds and inputs needed to increase local production

The ABP scheme covers crop production such as rice, maize, tomato and cassava grown to cover cotton and oil palm.