The CBN has commenced the 2020 input distribution to rice farmers and loan recovery drive. The Central Bank of Nigeria has flagged-off the 2020 input distribution to rice farmers and loan recovery drive under the RIFAN-CBN Anchor Borrowers’ Programme.

Commenting on the recent development, CBN governor, Godwin Emefiele said:

“Anchor Borrowers’ Programme has proven to be a game-changer in the financing of Smallholder farmers in Nigeria, as it has revolutionized agricultural financing and has remained the fulcrum of our agricultural transformation initiatives. Beyond being a tool for economic empowerment, job creation, and wealth redistribution, it has also galvanized financial inclusion in our rural communities.”

“With a population of about 200 million people, importation of any major food item will continually drain our external reserves, export our jobs to countries where those food items are produced, and distort our commodity value chains as we will not be able to guarantee the supply of raw materials for our agro-allied companies.”