CBN approves conversion of N1b anchor borrowers loan in Kwara …as Kwara trains 1408 livestock farmers By Ahmed ‘Lateef

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The Central Bank of Nigeria (CBN) has approved the conversion of the remainder of N1billion anchor borrowers’ fund in Kwara State to livestock farming.
The fund was basically released to the beneficiaries through the Union Bank for 2018 crop season but could not be fully utilised on account of delay in cash backing.
The Special Adviser to the state Governor on Agriculture and Rural Water Support Services, Otunba Anu Ibiwoye, made this known in Ilorin yesterday on the sidelines of the capacity training workshop organised for livestock farmers under the 2019 anchor borrowers’ programme.
Of 1408 participants expected, about 450 of them underwent the first tranche of the training workshop at the yesterday’s flag off.
Ibiwoye said that the state was only able to draw about 50 percent of the anchor borrowers’ fund last year up to the period the rain ceased.
He informed that the utilisation of the fund could not begin until April 2018, saying the development necessitated the state to request for the conversion of the loan, which it secured the CBN approval.
With the training, the Governor’s aide told Journalists that piggery, fishery and poultry farmers were selected across the 16 local government areas of the state.
Ibiwoye stated that the state government was dealing with farmers association chairmen as well as beneficiaries in clusters to make monitoring and distribution of input easier.
“Initially, we have applied for N1billion for our crop farmers and we also applied for N1billion for our livestock farmers under the anchor borrowers’ programme. Yes, we received the N1billion for crop for 2018 farming season even though the money came a bit late. We were not able to fully implement. I think we are able to draw down about 50 percent up to the time the rain stopped. We have had to wait up to April (2018) before we can begin to utilise.
“And we felt that since the N1billion we had requested for the livestock had not come up, it would have been easier for us to convert the unutilised portion of the anchor borrowers programme crop to the livestock since the conditions are the same. We applied to the CBN for the conversion and they gave an approval for us to convert and we started the processing otherwise we would have had to return the money.
“So, what we decided to do now was to try and implement for our livestock farmers for piggery, fishery and poultry. What you have seen here is phase one. We have to stagger the implementation because of the elections. By the time we are done with the next elections, you would see others would follow”, Ibiwoye said.
Also speaking, the Commissioner for Agriculture and Natural Resources, Mr Goke Bamidele, said the state government was conscious of the benefits accruable in the diversification of the agricultural sector, the reason he said, prompted the government not to concentrate on crop farming alone.
Bamidele noted that the government in its bid to improve sub-sector of agriculture, had approached the CBN for a sum of N1billion for livestock farming but regretted that it was still under processing.
He said the state government had partnered private sector in boosting agricultural production in the state and would also assist farmers through this year’s appropriation act to ensure bumper harvests.
A manager of Union Bank designated for Kwara State Account for (Anchor Borrowers Programme), Mr Babatunde Alade, recalled that the state government applied for the agricultural loan through his bank while the approval was also given for the conversion of the fund to livestock farming.
He warned the beneficiaries of the fund against diversion, urging them to use it judiciously.
“Kwara State applied for the money (N1billion loan) through union bank last year. Union bank has always been the state bank when it comes to agriculture. We got approval for N1billion. Residual of the fund was applied for to be converted for the livestock farming. It was remarkable the CBN had given approval for the fund to be converted to livestock
“Union Bank has released fund as being stipulated in the guidelines of the ABP (Anchor Borrowers Programme). Funds have been released to micro finance banks”, Alade said.

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