Uncategorized

Anchor Borrower programme: Farmers not keen to repay loans-Bank

CBN approves 3 firms to operate as Payment Service Banks

An officer of the Zenith Bank has lamented the attitude of farmers toward repayment of loans obtained through the Anchor Borrower Programme.

The Regional Agric Finance Officer, Zenith Bank, Mr Oluwaseun Arigbade, made this known during a programme tagged: “agricultural training for banking professionals of finance service providers”  Tuesday in Abuja.

The programme organised by the GIZ Competitive African Rice Initiative (CARI) focuses on the rice sector in Nigeria.

According to Arigbade the level of devotion on the part of farmers was huge, adding that farmers often saw such gesture as their own dividends of democracy.

He noted that though the anchor borrower scheme remained a good idea, it had not been a huge success because of bad attitude of loan repayment by farmers.

“The experience we have with farmers is bad, they don’t want to repay their loans because they feel it is government’s money and it is free,” he said.

Arigbade said that banks often denied funding production because of the risk involved in such ventures, stressing that they would rather fund the processing instead of production.

“What we can do as a bank is to organise some of these farmers into groups to make them have a structure so that they will not be coming as individuals to access loan.

“It is very difficult as farmers to get loans individually, they need a structure the bank can hold responsible,” he said.

Agricultural Finance Advisor for CARI Dr Lisa Wenger, said that the mentality that banks had toward farmers had to be changed, adding that farmers were not stupid as the banks would want them to believe.

She said that farmers knew what they wanted, adding that in spite of the nature of the job, they often went the extra mile to provide food for the country.

Wenger averred that responding time for loans by farmers should be an urgent matter, but bankers hardly treated such with the urgency it deserved.

“Farming activities have to do with season and time and once you have missed the time, it affects the yield in the end.

“If we don’t support agriculture, what are we going to eat in the future, so there is need for the banks to support farmers,’’ she said. 

Comment With Facebook

Comments (16)

  1. I’d like to thank you for the efforts you’ve put
    in penning this site. I really hope to see the same high-grade blog posts by you in the future as well.
    In truth, your creative writing abilities has motivated me to get my own, personal blog
    now 😉

  2. Hi there friends, how is the whole thing, and
    what you want to say on the topic of this piece
    of writing, in my view its actually amazing designed for me.

  3. I just want to mention I am all new to blogs and really loved this web page. Likely I’m likely to bookmark your blog post . You surely have remarkable well written articles. Thanks a bunch for sharing your blog site.

  4. This is my first time visit at here and i am genuinely happy to read
    everthing at one place.

  5. Spot on with this write-up, I really believe this amazing site needs much more attention. I’ll probably be returning
    to read through more, thanks for the advice!

  6. I ran into this page accidentally, surprisingly, this is a great website. The site owner has done a great job writing/collecting articles to post, the info here is really insightful. You just secured yourself a guarenteed reader.

  7. Perfectly pent content, Really enjoyed looking at.

  8. Thanks for sharing your info. I really appreciate your efforts and I
    am waiting for your next post thank you once again.

  9. Really nice pattern and excellent content, very little else we want .

  10. Hello, I enjoy reading all of your article. I like to
    write a little comment to support you.

  11. Very nice post. I just stumbled upon your weblog and wanted to say that I’ve
    really enjoyed surfing around your blog posts. After all I’ll be
    subscribing to your rss feed and I hope you write again soon!

  12. Nice web site! Better than others I have lately study addressing this particular. The layout is actually nice, thoughts if I copy this particular? Just kidding?-Thanks!

  13. Greetings I am so happy I found your weblog, I really found you by error, while I was searching on Digg for something else, Anyways I am here now and would just like to say thanks for a fantastic post and a all round interesting blog (I also love the theme/design), I don’t have time to go through it all at the minute but I have bookmarked it and also added your RSS feeds, so when I have time I will be back to read much more, Please do keep up the awesome job.

  14. Way cool! Some very valid points! I appreciate you penning this write-up and also the rest of the website
    is extremely good.

  15. I’ve been absent for some time, but now I remember why I used to love this blog. Thank you, I’ll try and check back more often. How frequently you update your website?

  16. What’s up everyone, it’s my first pay a quick visit at this
    site, and article is genuinely fruitful in favor of me, keep up posting these types of posts.

Comment here