Development
CBN To Continue With Anchor Borrowers Program
The Central Bank of Nigeria (CBN) has restated its intention to continue with the Anchor Borrowers Programme (ABP) for farmers.
CBN Governor, Godwin Emefiele discussed this at the end of the 288th meeting of the Monetary Policy Committee (MPC) in Abuja.
The CBN has given out a total of N1.01 trillion to over 4.21 million smallholder farmers producing 21 commodities across the country through the Anchor Borrowers’ Programme (ABP).
He said rather than stop the programme, the CBN will rather take a more aggressive approach to help farmers survive the impact of the devastating floods across the country.
“We are gradually moderating our intervention in developmental finance. But that doesn’t mean we are stopping, as some people have told you,” he stated.