CBN Unveils Agro E-Naira Platform For 50 Farmers In Adamawa

The Central Bank of Nigeria, has unveiled Farmers programmable Money tagged Agro E-Naira Platform for 50 farmers to drive agricultural value chain of the federal government Adamawa state.

Hajiya Rakiya Muhammad, Director Information Technology, who represented, Mr Godwin Emefiele Governor CBN at the occasion in Yola Thursday said, the program at the end of the year would scale up to 1 million farmers and 4 million in 2024.

Muhammad, said the CBN is providing a platform, where people will have transparency, accountability and make the program more efficient, to encourage people to provide finance to those who need it.

“Just like we don’t hope cash will go away; e-Naira has come to stay.

‘The programme is sustainable on it own and for the farmers, as long as people can look for loan.

“And people are willing to give the loan, the program is not likely to go away”.

In his remarks, Alhaji Sadiq Daware, President Agricultural and Allied Commodities Practitioners of Nigeria, hinted that the association hopes to engage SIX million agricultural actors in the next 10-years on the platform.

Daware further pointed out that for the beginning, every farmer is benefiting N840,000 as an economic coast of production form the dry season farming.

He added that, the association will leverage on Nigerian Digital currency, to ease the processes for both farmers and inputs suppliers.

“At present farmers are using N480,000 to produce 1-hecter to cultivate a minimum of 80 bags of grains.