{"id":26611,"date":"2020-12-01T10:51:40","date_gmt":"2020-12-01T09:51:40","guid":{"rendered":"http:\/\/thefreezonechannel.com\/?p=26611"},"modified":"2020-12-01T10:51:40","modified_gmt":"2020-12-01T09:51:40","slug":"cbn-absolves-abia-over-anchor-borrower-programme-fund","status":"publish","type":"post","link":"https:\/\/thefreezonechannel.com\/old\/cbn-absolves-abia-over-anchor-borrower-programme-fund\/","title":{"rendered":"CBN absolves Abia over Anchor Borrower Programme fund"},"content":{"rendered":"\n<p><strong>By Chris Ndibe&nbsp;<\/strong><\/p>\n\n\n<p>The Central Bank of Nigeria (CBN) has absolved the Abia Agricultural Development Programme (ADP) of an allegation of misappropriation of funds for maize farmers under the Anchor Borrower Programme ((ABP).&nbsp;<\/p>\n\n\n<p>Addressing newsmen on the matter in Umuahia, the Head, Development Financing Office of CBN, Umuahia Office, Mr Camilius Ogbuagu, described the allegation as \u201cunfounded\u201d.&nbsp;<\/p>\n\n\n<p>Ogbuagu said that the list of beneficiaries of its ABP on maize was usually provided by commodity associations at the national level and not state ADPs.&nbsp;<\/p>\n\n\n<p>He further said that upon the receipt of the list, the bank would proceed with the distribution of the inputs directly to the farmers.&nbsp;<\/p>\n\n\n<p>He was reacting to a report in a local media station in Abia, where the state ADP was accused of complicity in the misappropriation of CBN fund for the programme.&nbsp;<\/p>\n\n\n<p>Ogbuagu said, \u201cThe accusation of misappropriation and making of farmers\u2019 list levelled against ADP is unfounded because the agency neither provides the inputs nor makes up the lists.\u201d&nbsp;<\/p>\n\n\n<p>He also said that neither the CBN nor ADPs had a hand in the choice of the banks being used by farmers for the disbursement of funds for the programme across the federation.&nbsp;<\/p>\n\n\n<p>He said the choice of the banks was the exclusive right of the Maize Association of Nigeria (MAN) and the Maize Growers and Processors Association of Nigeria (MAGPAMAN).&nbsp;<\/p>\n\n\n<p>He said: \u201cCBN does not give cash to anybody under its ABP, neither does it give grants.&nbsp;<\/p>\n\n\n<p>\u201cThe money we give is not a grant. It is purely a loan. What we give to farmers is not in cash but in kind.\u201d&nbsp;<\/p>\n\n\n<p>According to him, 3,132 famers, consisting of 2,041 MAGPAN and 1,091 MAN members were listed for the inputs during this year\u2019s wet season.&nbsp;<\/p>\n\n\n<p>He decried the challenges confronting the programme in Abia, saying, \u201cHere, people want to be part of a programme they do not know how it works.\u201d&nbsp;<\/p>\n\n\n<p>In a separate reaction, the Abia ADP Programme Manager, Chief Israel Amanze, said that ADP was working for the state and would not be deterred by such accusation.&nbsp;<\/p>\n\n\n<p>Amanze said: \u201cIt is our mandate to ensure that farming in Abia is going on well.&nbsp;<\/p>\n\n\n<p>\u201cIt is the core mandate of ADP to carry out extension work and develop agriculture in the state.&nbsp;<\/p>\n\n\n<p>\u201cAlso, we will continue to play our role to ensure that the national headquarters does not stop extending its programmes to Abia farmers.\u201d &nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Chris Ndibe&nbsp; The Central Bank of Nigeria (CBN) has absolved the Abia Agricultural Development Programme (ADP) of an allegation of misappropriation of funds for maize farmers under the Anchor Borrower Programme ((ABP).&nbsp; Addressing newsmen on the matter in Umuahia, the Head, Development Financing Office of CBN, Umuahia Office, Mr Camilius Ogbuagu, described the allegation [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":26612,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[125,235,296],"tags":[185],"class_list":["post-26611","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-money","category-resources","category-social-economic","tag-cbn","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.7 - 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