CBN laments non-participation of South-East in agric intervention programmes
By Lawrence Njoku, Enugu
05 May 2021 | 3:50 am

CBN


The Central Bank of Nigeria (CBN), yesterday, said that the agricultural intervention programmes was meant for every Nigerian and not to favour a particular segment of the country.
It, therefore, lamented that the response of the South-East was not encouraging. Asking the zone to embrace the programmes to grow their businesses and agriculture,

The bank, while advising the zone to embrace the programmes to grow their businesses and agriculture, said it would continue to support Nigerians that show interest in the various intervention programmes, insisting that the impact had been tremendous since they started in the country.



The apex bank’s clarification came as the Enugu State government identified inability to domesticate commodities that the state has comparative advantage as part of the challenges facing the Anchor Borrowers Programme of the bank in the state.

It, therefore, appealed to the bank to domesticate its Nsukka honey and Nsukka pepper and piggery as some of the commodities that are doing well and should be supported in the state.

The CBN Acting Director, Corporate Communications, Osita Nwanusiobi, who spoke at a fair organised for farmers and bank officials in Enugu State, said that the bank had done well with her intervention programmes, lamenting however that its reception had been low in the South-East zone.

Nwanusiobi, who added that the apex bank put the fair together to improve awareness on the intervention programmes offered by the bank, stated that the apex bank was passionate about improving the well-being of Nigerians through agriculture and other sectors.

He lamented, however, that while other zones had continued to benefit, “we noticed that there seems to be a little bit of lethargy by people from the South-East in embracing these interventions and that is why we are coming out so aggressively to talk to them.”

On the complaints by farmers that some of the commodities the bank is supporting arrived late, Nwanusiobi said that the bank’s project team had aggregated the challenges and seasonality of the commodities, stressing that to overcome the problem, it had introduced wet and dry season farming.

He said that aside from sensitising the farmers on the need to access the intervention programmes, the fair would also discuss other challenges like bank charges, promote financial and economic stability as well as help build confidence in the financial system as a veritable platform for intervention.

On his part, Enugu State Commissioner for Agriculture, Mr. Matthew Idu, stated that the state had continued to do well in the production of honey, pepper and piggery but had not received the required support from the bank to boost production.


https://m.guardian.ng/news/cbn-laments-non-participation-of-south-east-in-agric-intervention-programmes/

Wow!

LMAO ...Igbos have given up on Nigeria long ago

Nigerian keeping Igbos in Nigeria is like a man keep a wife he knows doesn't love him anymore and keeps treating her bad ...one day she would poison you

Any country that invades Nigeria today would have complete support of Igbos

Let Igbos have referendum and safe millions of life

Deal with fulani herdsmen destroying farms in the south east first before asking for participation. Useless Emeifele

You guys up there have answered them, alot of times they deliberately refuse your participation and then tag it that you didn't respond or indicate interest, talking more about the Government loan. Nigeria

Based on merit, It might be easier getting a 10% term loan from the banks or a 30% overdraft loan from loan sharks than getting a 3% or 5% loan from the CBN as a SE average business man..

I dont think they bother anymore... what you spend despite not getting it virtually equals what the banks take at official rate.

The same CBN will continue to deny funding to agricultural projects in the southeast. The people are tired of going through such long paperwork which will ultimately result in denial of the loan.

It's all part of the war against the southeast by the Nigerian state.

South east know say Nigeria no favour them cos if they apply, na still Fulani them go answer. So, no need wasting time

I applied for covid-19 loan last year and this year, same with my mom. Yet no approval.

I have been interviewed last year for agsmeis loan, no approval.

I applied for two of brothers, 1 sister in law for covid-19 loan this year, none have been approved.



If there is low participation, then it should translate to high approval for those that applied. But that's not the case.

Stop worrying

Allow the people not you.

When did this fair took place and where?.