Godwin Emefiele: CBN governor offers bandits huge agric loans

Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), has asked bandits to drop their arms and embrace the apex bank’s Anchor Borrowers’ Programme (ABP).

Now in its fifth year, the ABP is the CBN intervention programme for farmers aimed at boosting food production in the country.

In March 2021, the apex bank said 3.8 million farmers have benefited from it, and N554.61 billion has been disbursed to the beneficiaries.

While answering questions at the end of a two-day monetary policy committee meeting in Abuja, Emefiele said there is interconnectivity between security and economy.

“If you want an economy to grow, the level of insecurity must be low because if there is a high level of insecurity like what we see today, the economy will suffer,” Emefiele said.

He said security institutions are doing their best to tackle insecurity in the country.

“Efforts are now targeted at southeastern and northeastern parts of the country. About three years ago, the federal government and the United States signed a pact that resulted in a government to government acquisition of military equipment,” he added.

“Out of which, we are expecting 12 fighter planes that would help us solve our insecurity. I am aware that six of them are coming to the country in the month of July and August.

“I, therefore, would like to appeal to our brothers, who decide that they want to live in bushes and forests that they should please, begin to retreat, drop their arms and come and embrace the anchor borrowers’ programme.

“If they do so, it will help them; if they choose not to do so, they will be confronted by the security as this battle continues.

“I am optimistic before the end of the year, around the year of the end, the security challenges confronting the country will substantially abate.”

In a special report, TheCable revealed how the policy has changed the fortunes of thousands of farmers across the states and helped Nigeria become Africa’s largest rice producer.


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