From 1978 To The Present, The CBN Has Guaranteed N129.084 Billion In Agricultural Loans

To date, the Central Bank of Nigeria (CBN) and the Federal Government have guaranteed a total of N129.084 billion in agriculture loans to Nigerian farmers through the Agricultural Credit Guarantee Scheme Fund (ACGSF). Mr. Stephen Okon, Chairman of the ACGSF Board, stated at the ACGSF 39th Board meeting with stakeholders on the new ACGSF Guidelines and Operations and the 2021 ACGSF Best Farmers Awards, that ACGSF was established by Decree No. 20 of 1977 to guarantee agricultural credit facilities granted to farmers. The Federal Government and the Central Bank of Nigeria contribute 60% and 40%, respectively, to the fund. He […]