CBN rewards Delta farmers for quick loan repayment – The Sun Nigeria
Of Paul Osuyi, Asaba
Three Farmers in Delta State have been awarded the Outstanding Farmer of the Year 2021 award by the Central Bank of Nigeria (CBN) under the Agricultural Credit Guarantee Fund (ACGSF).
Farmers were celebrated in a brief ceremony on Thursday in Asaba for prompt repayment of loans; proper use of loans; and good track record.
CBN Delta State Branch Comptroller Dr Godwin Okafor said the award was to encourage the general public to get involved in the ACGSF scheme.
Okafor urged cash deposit banks and microfinance banks to seize and provide opportunities for rural farmers to benefit from the ACGSF.
“The desire of the bank and the current government is to reduce poverty to the bare minimum; create jobs for our population as a team; and diversifying the economic base of the nation, among others,” he added.
Discussing in more detail the purpose of the award, CBN Development Finance Officer in Delta State, Elias Tochi Nworie explained that it is to reward commitment and good behavior in matter of credit.
Nworie said it was also to encourage more lending to the agricultural sector by banks, especially depository banks and microfinance banks, to help the government’s economic diversification.
He congratulated the LAPO Microfinance Bank for its role as a key player in the process, which won the award for best PFI, and urged other banks to participate and support the program.