On Tuesday 17th November, 2015 was the launch of the “CBN Anchor Borrowers’ Programme” and flag-off of Dry Season rice and wheat farming for farmers across the country. The programme was launched by President Muhammadu Buhari in Birnin kebbi, kebbi state, Nigeria and is a financing model for small-holder farmers.
Majid Jeremiah of Agropreneur Naija who was at the airport in birnin kebbi and reports that the President Muhammadu Buhari’s airline landed at the Sir Ahmadu Bello International Airport, Birnin Kebbi at 10:13am where he was received by The Executive Governor, kebbi state, Directors, HODs, Permanent secretaries of government institutions and parastatals, other dignitaries present were; the Honourable minister of Agriculture, Audu Ogbeh; CBN governor, Godwin Emefiele (CON); President, National Rice Millers Association of Nigeria; Chairman, Flour Mills of Nigeria, John G. Coumantaros; President, Rice farmers Association of Nigeria (RIFAN), Malam Aminu Goronyo among others. Earlier in the day CBN officials had arrived in their chartered airline. The President thereafter made a courtesy visit to the Emir of Gwandu before proceeding to the venue in Zauro in Birnin Kebbi for launching of the CBN Anchor Borrowers’ Programme and flag-off of dry season rice and wheat farming in Nigeria.
The CBN Anchor Borrowers’ Programme is an initiative of the Central Bank of Nigeria and is aimed at creating an ecosystem to link small-holder farmers to local processors, increase banks’ financing to the agricultural sector, enhance capacity utilization of agricultural firms involved in the production of identified commodities and as well as the productivity of incomes of farmers.
How to Access CBN’s N220 Billion Micro, Small and Medium Enterprises Development Fund (MSMEDF)
How to benefit from the N220 Billion MSMED Fund
- Is your business in any of the following areas?
- Cottage industries
- Trade and general commerce
- Renewable energy/energy efficient products and technologies
- Other income generating projects as may be prescribed by the CBN
- If “YES”…
- Prepare your business plan or statement on how much you want for your business
- You can get a loan up to:
- N500, 000.00 for your micro-business; and
- N50 Million for small and medium enterprise (SME)
- Go to your bank or any of the following institutions to access the Fund:
- Microfinance Banks
- Commercial Banks
- Finance Companies
- NGO-Microfinance institutions
- Development finance institutions i.e Bank of Industry (BOI) and Bank of Agriculture (BOA)
- Tell your bank how much you need
- Your bank will discuss your request and provide you the money
- The maximum interest rate of 9.0% p.a (all charges inclusive) is applicable to all loans.
- Period of the repayment of the loan:
- For micro business, it is a maximum of one year
- For small and medium enterprises, it is a maximum of three years
NOTE: 60% of the fund is reserved for enterprises owned by women; 2% for persons living with disability and 10% for start-ups.
For further enquiries, please send an e-mail to: firstname.lastname@example.org or call the following numbers: 09-46238630, 09-46238608 or 07080650000