Anchor Borrowers: CBN tasks cotton farmers on prompt repayment of agric loans

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By Tukur Muntari

Kano – Central Bank () has called on 30, 000 cotton farmers in Kano state, who benefited from agric loan under Anchor Borrowers to ensure prompt repayment the facility.
Kano Branch Controller, Alhaji Ali Abdulkadir made call at flag off Recovery Cotton Outputs for 2019 planting season, organised by National Cotton Association of (NACOTA), on Tuesday in Kano.

He reminded cotton farmers, who benefited from facility, not to delay in repayment as loan was a revolving one which farmers were expected to benefit in subsequent years.

“The beneficiaries should come willingly and pay because it is essential that they pay back so that can also benefit. If they don’t pay it means they’re trying to terminate the .

“It should be a revolving fund, as you collect, you produce, you sell and then pay the loan so that that have not benefited earlier can also benefit,” he said.

Abdulkadir said no fewer than 30, 000 registered cotton farmers who collected the loans were expected to repay the facility pointing out that each of them received N174, 000, including inputs and cash as loan package.

“I am advising the of the association to embark on an aggressive recovery because the loan was given to farmers through the association and it is the association that can identify the farmers,” he said.

The branch controller explained that the had also extended similar loans to and wheat farmers as well as farmers producing commodities to enhance in line with the Muhammadu Buhari’s policy on security.

Earlier in his remarks, Kano Deputy Governor, Dr Nasiru Gawuna who was also the state’s Commissioner for Agriculture and Rural development, enjoined farmers to repay their loans so that could benefit from the in future.

Gawuna, represented by Director, Admin and General , in the ministry Hajiya Zahra Sulaiman commended the cotton farmers for setting the pace for others to follow in the repayment of the loan.

Also speaking, the state chairman of NACOTAN, Alhaji Lawan Aliyu commended the Federal for including cotton farmers in the Anchor Borrowers programme.

He said this would go along way in enhancing the living standard of farmers in addition to ending the importation of the commodity.