CBN, Ministry of Finance present “Best Farmer Award”

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The Board of Agricultural Credit Guarantee Scheme Fund (ACGSF), an initiative of the Central Bank of Nigeria (CBN) #CBN  and the Federal Ministry of Finance has presented the “Best Farmer Award of the Year 2020“.

 

The award is to encourage and motivate participating farmers under the #ACGSF.

 

Through the Agricultural Credit Guarantee Scheme Fund, the Central Bank of Nigeria has guaranteed cumulative loans of N122.63bn to 1,190,970 farmers.

 

The amount was given to farmers to boost agricultural production within a period of 43 years.

 

Established in 1977, the scheme in 2020 alone guaranteed a total of 30,267 loans valued at N4.32bn just as the scheme’s scope has been widened to fund all agricultural value chain.

 

The ACGSF Board Chairman, Mr. Stephen Okon disclosed this in Abuja at the presentation of 2020 Agricultural Credit Guarantee Scheme Fund’s Best National Farmers awards to recipients.

 

The #ACGSF Best Farmer of the Year Award recognizes farmers that borrowed and repaid loans under the scheme.

 

Amaka E. Nliam

 

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