• About Us
  • Advertise
  • Contact Us
  • Disclaimer
  • Download Platform Times app
  • Privacy-Policy
  • Terms
Platform Times
  • Home
  • News
    • All
    • Metro
    • Science
    • World
    MAPOLY Road Has Been Under Construction For Over 15-year, Traders , Students, Residents Lament.

    MAPOLY Road Has Been Under Construction For Over 15-year, Traders , Students, Residents Lament.

    Kidnap attempt foiled, 200 cows recovered in Kaduna

    Bandits Kidnap DPO In Kaduna

    Insecurity: You Don’t Need To Arm Yourselves, Uzodimma Tells Imo Residents

    Insecurity: You Don’t Need To Arm Yourselves, Uzodimma Tells Imo Residents

    Family Reports Ogun Oba To Council Chair Over Alleged Move To Annex Village

    Family Reports Ogun Oba To Council Chair Over Alleged Move To Annex Village

    Strike: Five Journalists harassed, beaten by Union members in Ogun

    Strike: Five Journalists harassed, beaten by Union members in Ogun

    Iran, US restart crucial nuclear talks in Qatar with EU mediation

    Iran, US restart crucial nuclear talks in Qatar with EU mediation

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Politics
  • Business
  • Education
    • Campus Times
  • Entertainment
    • All
    • Fashion
    • Food
    • Gaming
    • Lifestyle
    • Movie
    • Music
    • Travel
    I didn’t falsify my age – Nollywood actress, Caroline

    I didn’t falsify my age – Nollywood actress, Caroline

    Wizkid, Simi lead NET Honours Class of 2022 nominees

    Wizkid, Simi lead NET Honours Class of 2022 nominees

    Portable needs rehabilitation, says Okowa’s aide

    Portable needs rehabilitation, says Okowa’s aide

    Nollywood actor, Moses Armstrong arrested for ‘defiling’ 16-year-old girl

    Actors Guild suspends Nollywood actor over rape allegation

    Nollywood actor, Moses Armstrong arrested for ‘defiling’ 16-year-old girl

    Nollywood actor, Moses Armstrong arrested for ‘defiling’ 16-year-old girl

    Portable calls out Burna Boy over ‘intellectual theft’

    Portable calls out Burna Boy over ‘intellectual theft’

    • Lifestyle
      Five ‘demonised’ beauty accessories

      Five ‘demonised’ beauty accessories

      15 reasons you should drink enough water daily

      15 reasons you should drink enough water daily

      10 tips to manage morning sickness

      10 tips to manage morning sickness

      Shooting More than 40 Years of New York’s Halloween Parade

      Why Millennials Need to Save Twice as Much as Boomers Did

      Doctors take inspiration from online dating to build organ transplant AI

      Trending Tags

      • Golden Globes
      • Game of Thrones
      • MotoGP 2017
      • eSports
      • Fashion Week
  • Fact Check
  • Metro
  • sports
  • Special Reports
No Result
View All Result
  • Home
  • News
    • All
    • Metro
    • Science
    • World
    MAPOLY Road Has Been Under Construction For Over 15-year, Traders , Students, Residents Lament.

    MAPOLY Road Has Been Under Construction For Over 15-year, Traders , Students, Residents Lament.

    Kidnap attempt foiled, 200 cows recovered in Kaduna

    Bandits Kidnap DPO In Kaduna

    Insecurity: You Don’t Need To Arm Yourselves, Uzodimma Tells Imo Residents

    Insecurity: You Don’t Need To Arm Yourselves, Uzodimma Tells Imo Residents

    Family Reports Ogun Oba To Council Chair Over Alleged Move To Annex Village

    Family Reports Ogun Oba To Council Chair Over Alleged Move To Annex Village

    Strike: Five Journalists harassed, beaten by Union members in Ogun

    Strike: Five Journalists harassed, beaten by Union members in Ogun

    Iran, US restart crucial nuclear talks in Qatar with EU mediation

    Iran, US restart crucial nuclear talks in Qatar with EU mediation

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Politics
  • Business
  • Education
    • Campus Times
  • Entertainment
    • All
    • Fashion
    • Food
    • Gaming
    • Lifestyle
    • Movie
    • Music
    • Travel
    I didn’t falsify my age – Nollywood actress, Caroline

    I didn’t falsify my age – Nollywood actress, Caroline

    Wizkid, Simi lead NET Honours Class of 2022 nominees

    Wizkid, Simi lead NET Honours Class of 2022 nominees

    Portable needs rehabilitation, says Okowa’s aide

    Portable needs rehabilitation, says Okowa’s aide

    Nollywood actor, Moses Armstrong arrested for ‘defiling’ 16-year-old girl

    Actors Guild suspends Nollywood actor over rape allegation

    Nollywood actor, Moses Armstrong arrested for ‘defiling’ 16-year-old girl

    Nollywood actor, Moses Armstrong arrested for ‘defiling’ 16-year-old girl

    Portable calls out Burna Boy over ‘intellectual theft’

    Portable calls out Burna Boy over ‘intellectual theft’

    • Lifestyle
      Five ‘demonised’ beauty accessories

      Five ‘demonised’ beauty accessories

      15 reasons you should drink enough water daily

      15 reasons you should drink enough water daily

      10 tips to manage morning sickness

      10 tips to manage morning sickness

      Shooting More than 40 Years of New York’s Halloween Parade

      Why Millennials Need to Save Twice as Much as Boomers Did

      Doctors take inspiration from online dating to build organ transplant AI

      Trending Tags

      • Golden Globes
      • Game of Thrones
      • MotoGP 2017
      • eSports
      • Fashion Week
  • Fact Check
  • Metro
  • sports
  • Special Reports
No Result
View All Result
Platform Times
No Result
View All Result
ADVERTISEMENT
Home Business

FOOD SECURITY: CBN disburses 723m to 1779 Ogun farmers in 2021

by Babatunde Michael
June 23, 2022
in Business, Featured
Reading Time:3min read
0 0
0
FOOD SECURITY: CBN disburses 723m to 1779 Ogun farmers in 2021

Estimated reading time: 10 minute(s)

To strengthen farmers on their role in enhancing food security and zero hunger, the Central Bank of Nigeria, Abeokuta branch, said that no fewer than 1779 farmers in Ogun State benefitted from its 723 million agricultural loans in 2021.

This disbursement is part of the Agricultural Credit Guarantee Scheme Fund (ACGSF) established by Decree No. 20 of 1977 to guarantee credit facilities extended to farmers by banks.

The CBN, Abeokuta Branch Controller, Wahab Oseni disclosed this on Wednesday at the Ogun State Award for Best Farmer of the Year, 2021.

Oseni said the loan is targeted at increasing access to funds in the agricultural sector adding that beneficiaries get back 50% of the interest if they meet up with terms of the loan.

“The purpose of the fund is to provide guarantee in respect to loans granted by lending banks up to the tune of 75% net of amount realized on collateral in case of default for agricultural purposes. This is aimed at increasing the level of bank credit to the agricultural sector. The scheme through the interest drawback Programme also rewards beneficiaries by giving back 50% of interest paid on loan if fully repaid within the stipulated period.

“The role of farmers in enhancing food security and zero hunger is very pivotal in every Nation and for this; we say a very big thank you to our farmers

“In 2021, the Development Finance Office, Central Bank of Nigeria Abeokuta guaranteed One Thousand, Seven Hundred and seventy-Nine (1779) loans valued at Seven Hundred and Twenty-Three Million, One Hundred and One Thousand (N723,111,000.00) from three (3) banks, comprising of two micro finance banks and one deposit money bank.

“I wish to state that the winners of today’s award went through a selection committee using some criteria which included adoption of best agricultural practices, record keeping, utilization and timely repayment of loan among others.”

ADVERTISEMENT

CBN in collaboration with the ACGSF board rewarded three farmers out of the 1500 for prompt loan repayment, good record keeping, harnessing the value chain of the product line and increased productivity.

Saka Dolapo emerged best farmer of the year 2021 in Ogun State while Onasanya Babatunde and Abosede Olowonisoro emerged first and second   runners up respectively.

In her address, the Ogun CBN Development Finance Officer, Dr. Oluwakemi Olukoya, while congratulating the awardees said food security is everybody’s responsibility.

“Congratulations to you on the awards, it is beyond the investment you have made with the money, it also portrays you as good custodians. What we are giving you may not be much but it is our token of appreciation.

“all of us must be involved in food security, let us do something on our part, plant vegetables, if you don’t have land to farm, make use of sacks. Let us all go back to farm. We need to take responsibility now, there was a time when irrigation was very cheap, we disregarded it, now it is expensive in a time when global warming is affecting us. The action we don’t take now may affect us later.”

Speaking further the director said the State was unable to submit names of farmers for national award.

She however added that CBN in the state is bringing other Deposit Money Banks on board to ensure farmers have access to more loans.

“Our loan access in the state is not more than one million naira. To qualify for the national award, you must have accessed up to three million naira loan. We are reaching out to other banks to partner so that by next year the state will nominate people for the national award”, Olukoya added.

Last year under the same scheme, N500m was disbursed to 1500 farmers in the State with each farmer getting as low as N250,000 while others accessed up to N1m loan.

Tags: Agricultural Credit Guarantee Scheme Fund (ACGSF)Central Bank f NigeriaFarmersFood SecurityOgun Farmers
ADVERTISEMENT
Previous Post

Let Us Protest , Nigeria Has Been ‘Captured,Says Utomi

Next Post

How We Arrested Suspected Masterminds Of Owo Massacre, Says Ondo Amotekun

Babatunde Michael

Related Posts

Suspend Amosun now, Youths tell APC
Featured

No Planned Defection, Political Meeting, Says Amosun Group

June 29, 2022
MAPOLY Road Has Been Under Construction For Over 15-year, Traders , Students, Residents Lament.
Featured

MAPOLY Road Has Been Under Construction For Over 15-year, Traders , Students, Residents Lament.

June 28, 2022
We Can’t Disclose Tinubu’s Primary, Secondary Schools We Have  In File, Says U.S. University
Featured

We Can’t Disclose Tinubu’s Primary, Secondary Schools We Have In File, Says U.S. University

June 28, 2022
Kidnap attempt foiled, 200 cows recovered in Kaduna
Featured

Bandits Kidnap DPO In Kaduna

June 28, 2022
Insecurity: You Don’t Need To Arm Yourselves, Uzodimma Tells Imo Residents
Featured

Insecurity: You Don’t Need To Arm Yourselves, Uzodimma Tells Imo Residents

June 28, 2022
Ogun Bakers, Sellers Okay Strike Over Hike In Price
Business

Ogun Bakers, Sellers Okay Strike Over Hike In Price

June 28, 2022
Next Post
How We Arrested Suspected Masterminds Of Owo Massacre, Says Ondo Amotekun

How We Arrested Suspected Masterminds Of Owo Massacre, Says Ondo Amotekun

Platform Times Newspaper

Copyright © Platform Times Newspaper published by Pendulum Media

Navigate Site

  • About Us
  • Advertise
  • Contact Us
  • Disclaimer
  • Download Platform Times app
  • Privacy-Policy
  • Terms

Follow Us

No Result
View All Result
  • About Us
  • DONATE
  • Download Platform Times app
  • News
  • Fact Check
  • Special Reports
  • Politics
  • Metro
  • Education
  • sports
  • Business
  • Health
  • Sports
  • Entertainment

Copyright © Platform Times Newspaper published by Pendulum Media

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist