Home / BUSINESS / Agriculture / Sokoto RIFAN Set To Recover Anchor Borrowers Loan

Sokoto RIFAN Set To Recover Anchor Borrowers Loan

 

From  Ibrahim Goronyo, Sokoto

The Sokoto State chapter of the Rice Farmers Association of Nigeria (RIFAN) has inaugurated a nine-member committee to recover RIFAN/Central Bank of Nigeria Anchor Borrower Rice Farming loan, given to rice farmers in the state.

Alhaji Ibrahim Salihu, the state chairman of the association, made the disclosure in a chat with newsmen.

Salihu said the measure was taken to recover the loan from defaulters in order to ensure the continuity of the programme. He explained that appropriate sanctions would be meted out to

defaulters, adding that every loan collector is aware there must be repayment.

“As we are approaching harvest period, the committee will coordinate loan collection activities,” Salihu said.

He described the anchor borrowers programme as `beneficial’ to rice farmers in the state, saying that they recorded bumper harvest this year.

“Farmers recorded a lot of gain this year and repayment rate is moderate and encouraging,” he added.

Salihu said  the association was compiling the names of

farmers who were affected by the 2018 flood, adding that the National Agricultural Insurance Company had been contacted for intervention.

He further disclosed that about 20,000 farmers lost an estimated 61,197.5 tonnes of rice, valued at N27.5 billion to flood, which reportedly submerged many farmlands.

About Editor_01

Check Also

FG To Employ 1m People For N-Power

The  Federal Government will expand the N-Power scheme from the current 500,000 to accommodate one …

Nigeria Among Iran’s Top African Trading Partners

A senior Iranian trade official announced that the value of trade between Iran and African …

Leave a Reply

Your email address will not be published. Required fields are marked *

%d bloggers like this: