Flood: Reschedule Loan Payment Plan, RIFAN Urges CBN

• Flood: Reschedule Loan Payment Plan, RIFAN Urges CBN

Following the recent flooding in Adamawa State that damaged standing crops, Rice Farmers Association of Nigeria (RIFAN) has urged the Central Bank of Nigeria (CBN) to reschedule its loan payment plan.

RIFAN’s appeal became necessary because many of the rice farmers were beneficiaries of the CBN Anchor Borrowers’ scheme and were expected to repay their loan soon.

Mr Stephen Maduwa, Adamawa’s RIFAN Chairman who spoke on behalf of the farmers, said the farmers were looking forward to bumper harvest before the flooding happened.

“It is a great loss to farmers and the loan repayment is going to be a serious issue; that is why we are calling on CBN for a consideration,” Maduwa said.

Mr Phineas Elisha, a rice and maize farmer, said that the flood took farmers by surprise and the destruction was devastating.

Elisha explained that over the years, flood is usually experienced in August and September, but the October own was unexpected.

“Most of us that had our produce ready for evacuation, particularly along the banks of River Benue, lost all.

“Rice, maize and whatever we had are all gone with the flood.”

Elisha urged the Federal Government to liaise with farmers groups like RIFAN and North-East Commodity Association (NECAS) towards cushioning the effects of the flood on farmers.