The Bank of Agriculture has decried the alleged unwillingness of South - East businessmen to repay loans .
A representative of Bank of Agriculture ’ s South - East Zonal Office , Enugu , Mr Aaron Obigbo , who spoke at a workshop organised by a research institute , the Development Strategy Centre, Enugu, raised the alarm over the high rate of loan defaulters among borrowers in the South - East .
The workshop themed , “ Pro - poor growth , unemployment and poverty in Nigeria : A South - East agenda ” , was organised in partnership with the African Economic Research Consortium , Kenya.
Speaking at the workshop , Obigbo said the Bank of Agriculture was faced with challenges that stemmed from the unwillingness of its borrowers in the South -East to pay back loans obtained from the bank .
Obigbo also disclosed that businessmen usually disguise as farmers to approach the bank for loans in the zone.
He said , “ Our (South - East ) businessmen come to the Bank of Agriculture and borrow money and they will not repay .
“ Some will collect inputs and sell them . They collect these inputs as farmers but they are not farmers .
“ The man in the North will collect loans from BOA and pay back but our big men from the South - East collect this money and don ’t bother to pay back . ”
Obigbo also decried the inability of state governments in the South - East to take advantage of various schemes initiated by the bank , particularly the Anchor Programme, to better the lives of the people in the region .
According to him , while states in the northern part of the country are maximising the opportunities provided by the Bank of Agriculture , many states in the South - East are yet to identify with the bank .
Obigbo urged South - East governments to utilise the funding opportunities provided by BOA, and also abide by the institution’ s terms and conditions .
The Managing Partner of the Development Strategy Centre, Dr Cosmas Ohaka , in a paper presented at the workshop , noted that the steady growth recorded by the Nigerian economy between 2000 and 2015 did not lead to a decline in the level of poverty in the country within the period .
He said , rather , the poverty level continued to rise, despite the recorded economic growth .
“ Available data show that every region witnessed a rise in poverty incidence between 2000 and 2015 — the same period that Nigeria recorded steady growth .
“ This seems to indicate that increase in economic growth does not automatically translate to decline in poverty incidence in any of the regions in Nigeria ,” Ohaka said .
He pointed out that people with low education are unlikely to benefit from economic growth .
He said , “Even if growth continues for the next couple of decades , some people will still not benefit from it due to their level of education that makes them unemployable . ” http://punchng.com/seast-businessmen-dont-repay-loans-bank-of-agric-laments/

These guys committing the crimes are frauds. Throw these rogues in jail. Actions like this end up hurting other borrowers by banks raising interesting rate and lending requirements.

 

He said , “ Our (South - East ) businessmen come to the Bank of Agriculture and borrow money and they will not repay .
“ Some will collect inputs and sell them . They collect these inputs as farmers but they are not farmers .
“ The man in the North will collect loans from BOA and pay back but our big men from the South - East collect this money and don ’t bother to pay back .”

Ps: break this into paragraphs.

fraudsters

ipob fraudsters

Blue3k:
These guys are frauds. Throgh these rogues in jail. Actions like this end up hurting other borrowera by banks raising interesting rate and lending requirements.

Ps: break this into paragraphs.

Pls read your post again and free your mind from hate.

Davash222:

Pls read your post again and free your mind from hate.

I do hate scammers. Don't defend criminals because they happen to be in your tribe or region. Thanks for the heads up but I already edited my comment.

Tribal bigots thread..... who generalizes on a whole region... what is the ratio of agric loan for south east compared to the north?... if you have loan defaulters, you go after them individually not to generalize on a region despite claiming from the article they are rich business men..

How the FTC wakes up very early just to call a people rogues tells a lot about the youth, their reasoning and their daily scale of preference..

Indirectly saying they are not credit worthy

So a rep of the bank came out to make this BS statement and for some reason, his backside was not fired and also a overhaul was not ordered into the operations of that branch? What is wrong with this country?

These guys just admitted that they have not been properly doing their job when it comes to investigating those who apply for loans. How can a businessman act like a farmer to ask for a loan and you did not know? Did you have discussions with him about his plans for the farm, the different farming techniques the challenges and he aced it? Questions only a farmer will know. So someone claims to be a bean (for example) farmer and he will know how many weeks it takes a particular strain of beans to grow? Or the expected weight of a chicken at 12 weeks?

Dont they go with them to their farms to do assessment and follow up assessment? So when the diversion of funds start (for farmers but got "better ideas" and decided to go into business)

Have they tried people who divert such loans in court? Have they sent the EFCC after the criminal people who take loans and not pay back? What is wrong with these people?

Mynd44:
So a rep of the bank came out to make this BS statement and for some reason, his backside was not fired and also a overhaul was not ordered into the operations of that branch? What is wrong with this country?

These guys just admitted that they have not been properly doing their job when it comes to investigating those who apply for loans. How can a businessman act like a farmer to ask for a loan and you did not know? Did you have discussions with him about his plans for the farm, the different farming techniques the challenges and he aced it? Questions only a farmer will know. So someone claims to be a bean (for example) farmer and he will know how many weeks it takes a particular strain of beans to grow? Or the expected weight of a chicken at 12 weeks?

Dont they go with them to their farms to do assessment and follow up assessment? So when the diversion of funds start (for farmers but got "better ideas" and decided to go into business)

Have they tried people who divert such loans in court? Have they sent the EFCC after the criminal people who take loans and not pay back? What is wrong with these people?

Who fired you for pushing the false news on supreme court decision on PDP to front page? You were jubilating on the thread of false news- were you fired?

OK na

Can't say am surprised or that the man is either say the truth or not because I know that they always have issues with house owners in Lagos, when they are looking for houses they can pay for 5 years at exorbitant prices but once the rent expires don't ergo get rent from them for another 3 years.

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This will degenerate into a tribal war soon.

kk

Na wa oo

una don start this new month

hmmm, I hope if these defaulters are arrested...we won't hear persecution of our tribe alone o. Case of Uba is still fresh

SE! Na true?

They are fraud. Jumping from one fraud of a leader to another scammer named kanu, I kind of want to see how their bi*fraud country will look like.

chai Igbos.. why always Dem.. is it not dose ones with d hairy cleavage? spits

Can you imagine this rubbish? These people don't even pay tax, wtf.

Just like the news that Jamb arrested over 10000 student for exam malpractice in Anambra. This news will also be debunked in coming days.

I've noticed that since yesterday the Lagos-Ibadan gutter media has gone into the overdrive, trying to belittle the success of our seat at home protest, and will lay hands on any garbage they find to make it look like we are not a special people.

Well, the truth is that no amount of smear campaign or even scare mongering is going to deter The spirit of Biafra that has be resurrected.

People, we are Igbos and we succeed in everything we do!!!!

new2012:



Who fired you for pushing the false news on supreme court decision on PDP to front page? You were jubilating on the thread of false news- were you fired?

lol savage

Is the South East still part of the zoo? You people should wake up from your wet dreams.

Please let's not start this month with this tribal rubbish.

Dont mind them. Na otedola and adenuga dey pay abi. Dangote still dey pay bt hin brodas wey get MRS nd dat water company dey pay .fuckery

Give me I will pay

It's our money, why paying back what belongs to you.

How many businesses are there in the South East? He didnt say.


How many businesses in the South East applied for the loan? He didnt say.


What percentage of businesses have so far failed to repay the loan? He didnt say.


And how many have you prosecuted for breach of contract?
He didnt say.


All he did was make an unsubstantiated and sweeping statement that South East businesses are not repaying their loan!


And some people will make some unintelligent comments based on this hogwash!


Give a dog a bad name to hang it.


Indeed there was a country.

I honestly haven't heard that banks grant loans and u a chop their money and go scot free... This one that man is saying is either a big lie or an unreasearched fact..

Plz how do I go about getting my own loan?

This one pass me o...
shuoo!