he Central Bank of Nigeria (CBN) has refuted claims by the International Monetary Fund’s (IMF’s) that the loans given to farmers under the Anchor Borrowers’ Programme (ABP) are not being repaid as at when due.
The CBN in a statement said 52.39 per cent of the loans it granted under the ABP have been repaid.
The CBN’s Acting Spokesman Dr. AbdulMumin Isa said the “total repayments as of the end of February 2023 under the Anchor Borrowers’ Programme (ABP) stood at N503 billion, representing 52.39 per cent”.
The balance he said, “was not due for repayment because they are under moratorium due to the COVID-19 forbearance granted to beneficiaries of the CBN’s interventions in March 2020 and extended to February 28, 2022”.
The CBN he explained has so far released “the sum of N1.079 trillion, as of February 28, 2023, and pledged the bank’s commitment to stimulate access to finance for the real sector”.
