The Kaduna State Government has reported 725 defaulters of Agricultural loans they accessed from the Bank of Agriculture (BOA) Limited to the Economic and Financial Crimes Commission (EFCC).
The spokesman for the Governor, Mr Samuel Aruwan told newsmen that the loan was issued to the defaulting farmers on March 2, 2015.
He explained that government had written to the EFCC, requesting for investigation and recovery of the funds, following breach of the terms and conditions of the loan by the beneficiaries.
“In March, 2015, BOA, in partnership with the Kaduna state government disbursed Agriculture loan to 1,859 beneficiaries, however 725 beneficiaries failed to liquidate their loans to the tune of over N205 million, contrary to the terms and conditions of the loan,’’ he stated.
The Agriculture loan scheme is an intervention of the State Government in partnership with Bob, meant to assist farmers in Kaduna to improve agricultural activities and ensure better harvest.
According to the spokesman, it is a revolving loan that enables farmers to access funds and repay after a farming year to enable other beneficiaries enjoy similar interventions.
He said BOA had forwarded names and details of the defaulting beneficiaries to the EFCC for investigation to commence.
Kaduna State’s Ministry of Agriculture and Forestry and the Bank of Agriculture Limited, have been directed to furnish the EFCC with any additional information and documents that may be required for the investigation.