Tag: Anchor Borrowers Scheme

H’Reps begin probe into ₦1.12tr misused Agric funds

Aminu Imam
H'Reps to probe

The 10th House of Representatives Committee on Nutrition and Food Security yesterday commenced a probe into how the ₦1.12 trillion meant for the execution of the Anchors Borrowers Programme was allegedly diverted by Ministries, Departments, and Agencies, (MDAs). The panel is also investigating the NIRSAL Microfinance Bank regarding how it spent ₦215 billion on agribusinesses, as well as the Bank of Industry over the disbursement of ₦3 billion to 22,120 smallholder farmers through the agriculture value chain financing programme. Speaking at the investigative hearing in Abuja, the Chairman of the…

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CBN’s Anchor Borrowers Scheme: H/Reps. to probe NIRSAL’s N215bn loan

Aminu Imam
Reps on NIRSAL's probe

The House of Representatives has ordered probes into the N1.12 trillion anchor borrowers scheme, an initiative of the Federal Government’s interventions and agricultural funding through the Central Bank of Nigeria, (CBN). Also included in the probe is the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL), the Bank of Industry (BoI) and other agencies. The resolution followed the adoption of a Motion by Chike Okafor (APC-Imo) on the floor of the House in Abuja, on Tuesday. Presenting his Motion, Okafor linked the growing food scarcity and malnutrition in Nigeria…

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Anchor Borrowers Scheme: Panic grips beneficiaries of CBN’s N1.1 tr loan, as Tinubu’s deadline ends

Aminu Imam

Reports have indicated that the Jim Obazee-led Special Investigative Panel constituted by President Bola Tinubu in July to probe and reset the Central Bank of Nigeria (CBN) has extended its dragnet to companies and establishments owned by top shots at the apex bank including its board members. According to the report, some of the companies were used as conduits for anchor borrowers’ loans and foreign exchange rackets; Consequently, cronies of CBN top shots are in panic mode as investigators and security operatives pick them up one after the other for…

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