Group assures of quick loan recovery from North-East farmers

The North East Commodity Association (NECAS), accredited by Central Bank of Nigeria (CBN) to implement Anchor Borrowers Programme in North East says its loan recovery from beneficiaries in the sub region is on course.

The National Chairman of NECAS, Alhaji Sadiq Daware, made this known while addressing a stakeholders meeting in Yola.

“We are on course with our loan recovery where we adopted 40 per cent for first farming cycle, 30 per cent for second cycle and 30 per cent for the last farming cycle.

“All the loan recovery will be completed within 12 calendar months,” Daware said.

He however urged extension officers employed by the association to train farmers and recover loans to use civility approach while recovering loan.

“During recovery try not to be policemen; you have been trained on how to recover loan from farmers without harassment and intimidation.

“You can be able to recover optimally from farmers without intimidation,” Daware said.

Daware lauded the support and cooperation the association was receiving from CBN and Bank of Agriculture (BOA) under the anchor borrower programme.

The Zonal Manager of BOA, Alhaji Umar Mohammad lauded NECAS for its loan recovery and urged for the involvement of BOA officials at all stages to ensure that farmers did all necessary documentation for loans and recovery.

He urged for proper assessment of beneficiaries to ensure only genuine farmers benefitted from the programme.

The representative of CBN, who is the Development Finance Officer of CBN, Yola, Mr Sa’ad Ahmed said that CBN was satisfied with the operations of NECAS and would continue to partner with it in implementing the programme.

Ahmed urged NECAS to look into challenges faced in 2018 with a view to improving in 2019.

The post Group assures of quick loan recovery from North-East farmers appeared first on Voice of Nigeria.

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