NIRSAL Microfinance Bank Limited (NMFB) on Tuesday issued a final demand notice to defaulting beneficiaries of the Anchor Borrowers Programme (ABP) loans disbursed by it, warning that failure to offset their outstanding debts will lead to serious consequences.
The MfB’s management, in a statement, indicated that the final demand notice was sequel to the Central Bank of Nigeria’s (CBN’s) directive to it, to recover all non-performing intervention loans disbursed under the Anchor Borrowers Programme.
Specifically, the Notice was given to six defaulting beneficiaries to offset their indebtedness to the NMFB under the said intervention scheme of the CBN.
The MfB listed the affected customers and their outstanding indebtedness as including, Sadolen Interworld Limited, N2,050,831,880.50; Gum Arabic Farms and Commodities Limited, N1,220,957,105.30; and Prime Synergy Global Solutions Limited, N1,451,720,437.00.
Others are, Asuj Food Production and Processing Limited, N541,416,350.39; Souvenire Seeds Nigeria Limited, N158,184,197.50; and Con Investment Limited, N211,605,477,96.
The microfinance bank recalled that earlier Demand Notices had been issued by it to the last known addresses of the aforesaid customers, hence, this Public Notice serves as the final demand notice.
The Anchor Borrowers Programme (ABP) was launched on November 17, 2015 and intended to create a linkage between anchor companies involved in the processing and small holder farmers (SHFs) of the required key agricultural commodities.
The programme thrust of the ABP is provision of farm inputs in kind and cash (for farm labour) to small holder farmers to boost production of these commodities, stabilize inputs supply to agro-processors and address the country’s negative balance of payments on food.
Speaking on the success recorded so far through the initiative early this year while unveiling stacked paddy rice pyramids produced by rice farmers under the ABP, President Muhammadu Buhari said the programme had supported over 4.8 million smallholder farmers to boost production of 23 agricultural commodities in the country.
He expatiated: “The Anchor Borrowers Programme has so far supported over 4.8 million smallholder farmers across Nigeria for the production of 23 agricultural commodities, including maize, rice, oil palm, cocoa, cotton, cassava, tomato, and livestock. Today, rice production in Nigeria has increased to over 7.5 million metric tonnes annually,”
