CBN Threatens To Arrest Farmers Who Fail To Pay Back Loans
The Central Bank of Nigeria has threatened to arrest farmers who fail to pay loans gotten from the Anchor Borrowers’ Program.Information Guide Nigeria
According to NAIRAMETRIC, the CBN Comptroller, Bauchi Branch, Saladu Idris disclosed this while speaking at the Secretariat of the Nigerian Union of Journalists (NUJ).
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Live, Study and Work in Canada. No Payment is Required! Hurry Now click here to Apply >> Immigrate to CanadaIdris stated that even though a lot of farmers have remained, the loan defaulters were particularly amongst the rice farmers.
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Idris said: “Most people have paid back but there are a few who have failed to pay back. We called the leaders of the rice farmers associations and reported these people to them. They gave us the assurance that they will follow them up and ensure that they pay.
“Part of the terms of the agreement was that as soon as the harvest is done, they are to pay back. Those who fail to pay, we will take appropriate action against them.Jamb Result
“They will be arrested and locked up until they pay back. And for those who pay back fully on time, they will be rewarded with higher amounts of money and more inputs.”
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