Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Business News

Emefiele says bandits should drop arms and embrace Anchor Borrowers’ Programme

CBN Governor believes this will help reduce insecurity which has been a challenge to economic growth.

Chike Olisah by Chike Olisah
May 25, 2021
in Business News, Spotlight
Nigeria’s forex utilization falls 65% to $4.98 billion in Q1 2021
Share on FacebookShare on TwitterShare on Linkedin

The Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, has urged bandits and those living in the bushes to drop their arms and embrace the apex bank’s Anchor Borrowers’ Programme.

He made this remark when responding to questions at the Monetary Policy Committee Meeting held on Tuesday, May 25th 2021.

In perhaps an off the cuff remark, in addressing the role of insecurity in driving economic growth, Godwin Emefiele explained that while the apex bank was doing all it could to stimulate growth, insecurity remained a challenge, and thus chided bandits to drop arms and partake in the government’s agriculture transformation programs such as the ancho borrowers.

RelatedPosts

CBN disbursement to farmers under Anchor Borrowers’ Programme hits N1.01 trillion in May 2022

CBN has disbursed N927.94 billion to over 4.5 million smallholder farmers since launch of ABP

This suggests this is part of the CBN’s effort in assisting governments at different levels to tackle the rising insecurity across the country.

Emefiele said that the committee noted with great concern the implications of the current high rate of insecurity on agriculture, food prices, and the economy as a whole, calling on the Federal Government to quickly sort out the security challenges around the country in order to successfully tackle inflation.

News continues after this ad


At the end of the meeting the central bank monetary policy committee members voted to keep all rates the same.

What is Anchor Borrowers Fund (APB)

According to the CBN, APB which was launched by President Muhammadu Buhari (GCFR) on November 17, 2015, is “intended to create a linkage between anchor companies involved in the processing and smallholder farmers (SHFs) of the required key agricultural commodities. The programme thrust of the ABP is provision of farm inputs in kind and cash (for farm labour) to small holder farmers to boost production of these commodities, stabilize inputs supply to agro processors and address the country’s negative balance of payments on food. At harvest, the SHF supplies his/her produce to the Agro-processor (Anchor) who pays the cash equivalent to the farmer’s account.”

Recently, the CBN reported that 2,923,937 farmers have benefitted from the Programme. In addition, 3,647,643 hectares have been cultivated by farmers under the Programme while 21 commodity sectors benefited from the program.

News continues after this ad


In the 2020 wet season Banks under the CBN-RIFAN partnership financed 221,450 farmers for the cultivation of 221,450 hectares in 32 States. Despite all this, the Agriculture sector grew by 2.28% in Q1 2021 compared to the 3.42% recorded in Q4 2020.

Emefiele believes insecurity has been a major challenge in attaining the sort of growth expected from the trillions in stimulus already injected into the economy.

Related

Tags: Anchor Borrowers’ Programme

Comments 1

  1. Jack says:
    May 25, 2021 at 3:36 pm

    What’s BREAKING about this dumb advice from Oga CBN??

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

inq
avatrade
Stanbic bank
Mega Millions
UBN
Hot forex
Access Bank
Bankers Committee
First bank






    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    • Bitcoin drops for fourth straight day on US Fed’s hawkish stance
    • Agriculture Ministry denies spending N18.9 billion on bush clearing contracts during COVID-19 lockdown
    • $418 million Paris Club refund: Governors deny Malami’s claim on payment to consultants

    Follow us on social media:

    Recent News

    Over 79,000 traders get liquidated as Bitcoin falls below $40,000

    Bitcoin drops for fourth straight day on US Fed’s hawkish stance

    August 18, 2022
    Dufil Prima Foods compensate Nigerian farmers, Dufil Prima Foods, Edo State, Indomie, Power Oil, Raw Material

    Agriculture Ministry denies spending N18.9 billion on bush clearing contracts during COVID-19 lockdown

    August 18, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Financial Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Metrics
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
      • Securities
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
      • Real Estate and Construction
      • Tech News
    • Economy
      • Get Data
      • Macro-Economic News
      • Research Analysis
    • Business News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com