Kaduna reports 725 loan defaulters

1124 0
1124 0
Nasiru El-Rufai, Kaduna State Gov. on Agric Loan defaulters
Nasiru El-Rufai, Kaduna State Gov. on Agric Loan defaulters

By Hussaina Yakubu

The Kaduna State Government has reported 725 defaulters of agricultural loans they accessed from the Bank of Agriculture (BOA) Limited on March 2, 2015 to Economic and Financial Crimes Commission (EFCC).

Mr Samuel Aruwan, the spokesman to Gov. Nasir El-Rufa’i disclosed to newsmen in Kaduna on Thursday.

He said government had written to EFCC, requesting for investigation and recovery of the funds following breach of the terms and conditions of the loan by the beneficiaries.

“BOA, in partnership with Kaduna state government in March 2015, disbursed agriculture loan to 1,859 beneficiaries.

“However 725 beneficiaries failed to liquidate their loans to the tune of over N205 million, contrary to the terms and conditions of the loan.

“The agriculture loan scheme is an intervention of the state government in partnership with BOA.

“It is meant to assist farmers in the state to improve agricultural activities and ensure better harvest.

“It is a revolving loan that enables farmers to access funds and repay after a farming year to enable other beneficiaries enjoy similar interventions’’, he said.

He said BOA had forwarded names and details of the defaulting beneficiaries to EFCC for investigation to commence.

“You may also wish to know that the BOA had on Oct. 21, reached out to the government with details of the defaulters and the outstanding loans”, he explained.

The State’s Ministry of Agriculture and Forestry and the Bank of Agriculture Limited, have been directed to furnish the EFCC with any additional information and/or documents that it may require for the investigation


Join the Conversation

Join the Conversation