CBN Guarantees N2.4bn Loans for 14,000 Osun Farmers

The Osogbo Branch of Central Bank of Nigeria on Wednesday said it had guaranteed loans running into N2.4bn for over 14,000 farmers since the branch commenced operations in the state.

The CBN Osogbo Branch Controller, Mrs Ajuma Madojemu, said this during an award ceremony for the best farmer for the year 2020 under the Agricultural Credit Guarantee Scheme Fund organised by the bank.

Madojemu said the Osogbo branch of the apex bank since commencement of operation in year 2008 had been supporting farmers, and assured that the bank would continue to encourage farmers who exhibit good agronomic practices and promptly repay loans in all our agricultural interventions.

She said, “It is also pertinent to mention that CBN Osogbo Branch has since its inception in 2008 guaranteed loans in excess of N2,427,919.000 for over 14,726 farmers in Osun State.

“In order to boost farmers’ interest in the scheme and drive awareness, the Central Bank of Nigeria reintroduced the Best Farmers’ Award which was last held in 2012.

“The objective of today’s ceremony therefore is not just to celebrate the awardees but to encourage farmers in the state to get involved in the programme.”

In his goodwill message, Osun State Commissioner for Agriculture, Adedayo Adewole, represented by Dr Bose Olatokun, commended the bank for supporting the farmers.

At the event, Bamidele Oluwole, a fish farmer, clinched the best farmer of the year award and was rewarded with a sum of N100, 000, while Sheba Adebimpe, who got N75, 000 and Aderinoye Ademola, who got N50, 000 emerged first and second runners up respectively.