CBN approves $1.9m for Gombe farmers

As part of the Anchor Borrowers Programme, Central Bank of Nigeria (CBN) has approved a N660 million ($1.9 million) loan for 3,479 farmers in Gombe State. 
Godwin Emefiele, CBN Governor

Sani Chobe, Head of Development Finance, Gombe State office of CBN who disclosed this at a sensitization workshop recently, explained that the loan was given to farmers who applied for the funding in the first and second batches and will be distributed through the Bank of Agriculture (BOA) starting from next week.

Chobe said the loans were supposed to have been distributed earlier but were delayed due to a large number of farmers applying for the facility.

President Muhammadu Buhari, on November 17, 2015, launched the CBN Anchor Borrowers' Programme to provide farm inputs in kind and cash to small farmers to boost production of agricultural commodities, increase banks’ financing to the agricultural sector, among others.


The apex bank in May, said it had disbursed N33.34 billion ($96.4 million) to 146,557 farmers across 21 states under the Programme.

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