Only 24% of CBN Anchor Borrowers’ loans repaid – IMF

The International Monetary Fund (IMF) says that only 24 percent of loans disbursed under the Anchor Borrowers’ Programme of the Central Bank of Nigeria (CBN) have been repaid.Information Guide Nigeria

This was disclosed by the Bretton Woods institution in its Selected Issues paper on Nigeria.

The paper was prepared by a staff team of the fund as background documentation for the periodic consultation with the country.

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BUSINESS HALLMARK reports that the document was based on the information available as of the time it was completed on January 12, 2023.

The document noted, “The weak effect of agricultural credit on production growth could be associated with difficulties in targeting the correct recipients.”NYSC portal

According to BUSINESS HALLMARK, the document read, “For the Anchor Borrowing Programme, repayment is also low at 24 per cent, especially since repayment can be made in kind, thereby limiting the tenor of the loans to one year.JAMB Result

“Part of the problem is that the incentive structure for repayment is weak, the recipient loans are not always well targeted and occasionally the funding is used for other purchases (e.g., new agricultural input trading companies to elicit trading rents).”

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