House of Representatives has directed the Bank of Agriculture (BOA) to furnish it with details of funds disbursed and outstanding payment on the Principal of Anchor Borrowers Programmme (ABP) since inception.
Chairman house committee on Agricultural production and Services, Alh Muntari Dandutse gave the directive during an interface with Bank’s officials in Abuja.
Alh Muntari Dandutse, explained that the decision became imperative as the document presented by the Bank’s Managing Director was not complete as many vogue submissions need more clarification.
The committee chairman emphasized that given the significance of the policy to the nation’s economic growth, the house would require information that would shed more light on the disbursement of funds, the beneficiaries as well as outstanding repayments.
In a submissions earlier, the Managing Director of Bank of Agriculture Malam Kabir Muhammad Adamu stressed that from the commencement of the Anchor Borrowers Programme in November 2015 to October 2021 only N91.872 billion was disbursed.
Malam Kabir Adamu told the committee that of the amount disbursed only N14.678 billion had been repaid leaving an outstanding repayment of N77.179 billion with the beneficiaries.
He said the Anchor Borrowers Programme had been facing challenges due to insecurity in many parts of the country where the beneficiaries were carrying out their activities which includes herdsmen attacks, armed robbery and kidnappings.
The Managing Director also identified cases of farm loss due to flooding, early cessation of rain and drought as well as nonchalance to debt services by anchors and farmers who did not intend to pay back the loans as major obstacles.
SALIHU TSIBIRI, ABUJA