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NECAS Advised Beneficiaries of CBN Loan To Avoid Default In Repayments

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The national Chairman of North East Commodity Association (NECAS), Alh. Sadiq Umar Daware, on Saturday advised beneficiaries of the Central Bank of Nigeria (CBN) loan on the platform of its Anchor Borrowers’ Programme (ABP), to live up to expectations on the terms of loan agreements.
The chairman who was speaking during the flagging off distribution of mobility for extension activities to extension agents in Gombe,  said the loan by CBN  to the Farmers was aimed at empowering them, and to as well boost their productivity.
Daware explained that under the new initiative, the CBN modified the programme to facilitate its direct relations with NECAS so as to ensure timely disbursement and full payment of ABP loans, unlike what is obtained in the past.
Deware said it was in view of the development that the association decided to reabsorbed some retired extension agents in the beneficiary states and trained them on modern technologies in enhancing their job performance.
He explained that, apart from their major responsibility of providing advice to farmers on problems or opportunities in agricultural production, facilitate development of local skills and transfer new technologies to farmers, they extension workers are also to help in ensuring the recovery of the the loans.
He said the essence of given out utility vehicles and motorcycles to hundreds of  extension workers across the 6 states benefiting from the NECAS-CBN loan is to ease their movement in reaching the beneficiaries and also enhance loan recovery.
“In every loan, recovery is critical that’s why NECAS, decided to procure utility vehicles and motorcycles in order to empower and ease the work of our extension agents, they need to move from one point to the other to meet with our farmers not only on loan recovery but to educate them on best agricultural practices and we believe this gesture will go a long way in helping our programme.”
The chairman also disclosed that, some of the beneficiaries have started fulfilling the loan agreement by paying 40 percent of the loan at the first farming cycle, which he said is encouraging.
The chairman further warned that government’s money which was being given as loans should not be deemed as free money, and that failure to payback was depriving others from benefiting.
Speaking, one of the beneficiaries, Adamu Abubakar, commended the leadership of the association for the gesture, even as he assured that the extension workers will double up to ensure that the beneficiaries comply to the loans agreement.
He however warned beneficiaries against defaulting to enable other applicants on the waiting list to as well benefit.


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