October 8, 2019

Anchor Borrowers: RIFAN to prosecute 113 loan defaulters in Daura

Rice farmers in Kebbi producing 4m tonnes annually — RIFAN

The Daura chapter of Rice Farmers Association of Nigeria (RIFAN) in Katsina State is to prosecute 113 farmers who failed to repay loans granted them under the Anchor Borrowers Programme.

Rice Farmers Association of Nigeria (RIFAN)

Malam Nura Baure, the local RIFAN chairman, told the News Agency of Nigeria (NAN) in Daura on Tuesday that the 113 farmers had deliberately refused to repay or even show interest in repaying the loan.

He, however, said more than 500 bags of rice had been received from other beneficiaries as repayment for the loan.

The chairman explained that the decision to take legal action against the defaulters was because their repayment period had elapsed.

Baure said that during the loan disbursement, the farmers were supplied fertilizer, insecticides, herbicides, improved rice seedlings, sprayers, and water pumping machines.

According to him, the stipulated guidelines governing eligibility, disbursement, and repayment of the loan indicated that the facility must be repaid within one year, failure of which beneficiaries would be sanctioned.

The chairman called on the affected farmers to hasten the repayment or face prosecution, stressing that they were fully aware that the farming inputs given to them were not free.

Baure said the association was, however, happy with the rate at which farmers were repaying the loan either in cash or in bags of paddy rice, stressing that RIFAN expected the loan to revolve for others to benefit.

NAN reports that no fewer than 3,500 farmers in Daura Local Government Area benefited from the anchor borrower programme out of the 5,000 farmers registered for the scheme.

Source: NAN

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