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538 Nasarawa Farmers Get N80 Million Loan

January 23, 2014

Hir Joseph

Five hundred and thirty eight cassava farmers in Nasarawa State yesterday received offer letters to access the Bank of Agriculture (BOA) loan of N80 million. Our correspondent reports that the soft loan was given in line with the bank's objective to boost productivity of farmers, especially in rural areas. The loan has a repayment period of 18 months while the bank and the facilitating body, Nigerian Cassava Growers Association , are to monitor its utilization and repayment. The bank's Executive Director, Wholesale Financing, Ahmed Waziri , during the exercise which was attended by state government officials, said BOA has the mandate of delivering credit facilities to all segments of the agriculture value chain. The executive director, who was represented by the bank's Head of Classified Risk, Ahmed Yahaya , said BOA is a leading institution in poverty reduction and rural development in the country, with 201 outlets. State chairman of the Nigerian Cassava Growers Association , Mr. Michael Sabo Okpo urged beneficiaries to utilize the loan for the purpose for which it was given.

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Source: AllAfrica

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