According to BU$I₦£$$ DIG£$T this morning, April 13, 2021
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CBN SUSPENDS LOANS TO NIRSAL FOR ANCHOR BORROWERS SCHEME
CBN SUSPENDS LOANS TO NIRSAL FOR ANCHOR BORROWERS SCHEME
The Central Bank of Nigeria (CBN) has suspended all loans to the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) amidst widespread allegations of corruption. This announcement was made last week.
The agency’s flagship Anchor Borrowers’ Programme and its Chief Executive, Aliyu Abdulhameed, have been rocked by charges of endemic graft in recent months.
The CBN’s suspension of further loans to NIRSAL under Abdulhameed was contained in a March 10 correspondence that referenced a February 24 meeting in which the decision was taken for an immediate pause on all loans.
The memo said the decision would only be rescinded after all outstanding loans out of NIRSAL have been resolved.
NIRSAL was also asked to submit monthly reports on its activities to the apex bank, a decision that indicated a retraction of CBN’s confidence long enjoyed by the credit risk managers.
Officials said the action was a major blow to Abdulhameed, although it would also leave some farmers stranded since NIRSAL would no longer have any loan to disburse or plunder.
CBN SUSPENDS LOANS TO NIRSAL FOR ANCHOR BORROWERS SCHEME
“We know it is bad for the Anchor Borrowers’ Programme, but at least we know that there will be no money to steal further. The CBN’s action is a welcome development because NIRSAL has been exposed to a lot of bad debts due to its focus on corruption rather than productivity and development of the agric value chain,” an official said under anonymity.
Another insider sources said, this action by the CBN should have come more than a year before now as there have been alot of fraudulent allegations against NIRSAL Management of the Anchor Borrowers Scheme.
These and many more are part of what will further worsen the state of the Economy.
_If you learnt anything from this, kindly share with someone out there._
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Yours-In-Entrepreneurship
Dr. Emmanuel Idenyi Shaibu
animn, ace, f.hcd, f.dss, m.frcn, fimc, cmc, cms, FAiPA, DPA
The Millennium Entrepreneur
MakingAMarkGlobally
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As a leading business development service provider in Nigeria, Dayo Adetiloye Business Hub has been recognized and certified by Small and Medium Enterprise Development Agency of Nigeria (SMEDAN) in Conjunction with Enterprise Development Centre (EDC), Pan-Atlantic University (PAU) of the Lagos Business School (LBS).
Our solutions are designed for MSMEs and are supported by deep insight into various industries and extensive experience acquired from over the years by supporting our clients as partners in their business transformation.
Through our services and business activities, we help individuals/entrepreneurs transform their business ideas into a business venture, and support existing business to scale or expand their operation. We also connect startups and MSMEs with opportunities and resources for their business growth.
We have Consulted for more than 5000 MSMEs in the last 6 years in various industry including Agro-processing, Consulting, Training and Education, Financial Services, Waste Management, Renewable Energy, Oil and Gas, Construction, Real Estate, FMCG, Digital Marketing, Personal Branding etc.
Our Vision:
To become the leading grassroot business Hub that provides Business
Development Services in the global online community
Mission Statement:
- Provide bespoke management and business planning consultancy
- To connect MSMEs with opportunities and resources for their business startup, growth and expansion through trainings, seminars, coaching, consulting, mentoring, and Angel investing.
- To inspire, empower and champion entrepreneurship in the global online community.
Business Goals and Objective
- Engender national prosperity by contributing to the creation of at least 100 new businesses every year
- Become a go-to brand for outstanding business development services for MSMEs
- Strategic partnership with local and international organization to empower start-ups
- Continuous innovation to serve our clients better
Core Values:
Integrity
Opportunity Maximization
Digitalization
Personal Development (Capacity Building)
Excellent Customer Satisfaction
Timeliness
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