Chronic Anchor Borrowers’ Programme Debtors Owing N5.6 Billion Get Final Demand Notice

The central Bank of Nigeria CBN has ordered NIRSAL Microfinance Bank Limited (NMFB), to recover all non-performing intervention loans it granted under the Anchor Borrowers’ Programme (ABP).

The final demand notice is coming after previous notices requesting the debtors to offset their indebtedness to NIRSAL Microfinance Bank under the ABP scheme of the the CBN.

According to the notice, five debtors are expected to back the sum of five billion, six hundred and seventy three million, seven hundred and fifteen thousand, two hundred and ninety five naira, sixty five Kobo (5,673,715,295.65) to NMFB.

The affected companies are Sadolen Interworks Limited with Saidu Audu Adaji and Nura Musa Hassan as promoter (N2,050,831,880.50); Gum Arabic Farms and Commodities Limited with Yusuf Ibrahim Babangida as promoter, owing N1,220,957,105.30; Prime Synergy Global Solutions Limited with Mercy Ikeji and Jennifer Nyesom-Effiong as promoters, owning N1,451,720,437.00.

Others are Asuj Food Production and Processing Limited with
Abubakar Umaru Jibrilla, expected to offset N581,416,350.39,
Souvenir Seeds Nigeria Limited with Roseline Omokora as the promoter, owing N158,184,197.50 while Con Investment Limited, promoted by Lady Josephine Nwaeze is to offset N211,605,477.96

Anchor Borrowers’ Programme, initiated by the Central Bank Governor, Godwin Emefiele is targeted at smallholder farmers in order to increase their access to quality agricultural inputs and, thereby, improve the quality of produce to meet international standards. The broad objectives of the ABP include: Improve access to finance. Diversify the economy.

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