Seeks to own 30% shares in BoA

By Gabriel Ewepu – Abuja

The All Farmers Association of Nigeria, AFAN, Friday, hailed the appointment of acting Managing Director of Bank of Agriculture, BoA, Alwan Hassan, as it signifies hope for smallholder farmers in the country.

This was contained in a statement signed by the National President, AFAN, Arc Kabir Ibrahim while reacting to the appointment of Hassan by President Muhammadu Buhari.

The statement reads in part, “The announcement of Alhaji Alwan Hassan as the new Managing Director of the Bank of Agriculture, BoA, evokes the feeling of the chicken coming home to roost for AFAN.

READ ALSO: Buhari appoints Hassan as BOA acting MD

“I have personally known Alwan Hassan from 1979 in ABU Zaria where he studied Quantity Surveying whereas I studied Architecture.

“I have kept track of his career progression from his sojourn in Kano housing to the CBN, the First Bank, etc. and his passion and interest in Agribusiness to date.

“He is deeply sympathetic to the cause of Agriculture and I firmly believe he will do very in the agriculture space in Nigeria.

“We support his appointment and commit to rallying round him and his team to make the 2020 farming season and beyond successful despite the ravaging COVID-19 pandemic.

“We will start by availing him of the desire of the farmers to take ownership of the bank through the acquisition of a stake in the shareholding of the Bank similar to what obtains in RABO Bank in the Netherlands.”

However, the AFAN boss made it clear that farmers seek to own 30 per cent of shares in BoA and not politicians, which will give them a sense of belonging instead of being schemed out by money bags who does not mean well for the sector.

“We seek to own 30 per cent shares in the BOA and ensure the repayment of loans promptly in a revolving fashion such that as one group of farmers pay back another group benefits sustainably.

READ ALSO: Buhari appoints BoA’s acting MD, Hassan amid COVID-19 pandemic

“We also hope that the Ministry of Finance and the Central Bank of Nigeria, CBN, will as a matter of urgency recapitalize the bank by paying their equity.”

He also urged the CBN to domesticate the popular Anchor Borrowers scheme in BoA as a way of improving the scheme and adding value to the sector.

“The CBN Anchor Borrower will be more impactful if it is domesticated in the BOA going forward. We wish Nigeria every success in its quest for food security”, he added.

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