Are you a farmer or want to venture into farming business, but lack funding? If yes, the Central Bank of Nigeria (CBN) Anchor Borrowers Programme is meant for you this season. This post will guide you on how to get loans from CBN Anchor Borrowers Programme. Check out List of Federal Government Free-interest Loans 2021 (See how to apply).
The Impact of CBN Anchor Borrowers Programme
Since the establishment of the scheme in 2015, over three (3) million farmers have benefited from the CBN Anchor Borrowers Programme, and over N554 billion has been disbursed to the beneficiaries through the scheme.
However, this year’s Anchor Borrowers Programme was announced by President Buhari in March 2021. Buhari had approved the sum of N600 billion for farmers to take advantage of this year’s rainy season and enhance food production in the country.
The Goals of the Programme
This programme is one of the Federal Government-sponsored initiatives, which its primary aim is to tackle food insufficiency, diversify the country’s economy, creating jobs for the youth and reducing poverty rate.
How to Apply for CBN Anchor Borrowers Programme
A lot of people have been asking us how does a farmer apply for the program.
“Unity bank is an outlet, as it is a federal government programme aimed at funding operations of farmers in Nigeria.”
“Unity Bank/CBN partner with the Union through creating accounts for the members of the Union and Farmers, which enables the Bank to run its checks of eligibility on prospective farmers for the loans,” they said.
Meanwhile, Nyscinfo learnt that the most important first step to get the CBN Anchor Borrowers’ Programme is to belong to any Farming Union that falls under the scheme like Rice Farmers Association of Nigeria or Maize Farmers Association of Nigeria.
Other opportunities
DON’T MISS!
Apply For CBN AGSMEIS Loan Now! It’s Ongoing.
