Katsina State High Court, has recovered over N900 million from Anchor Borrowers Programme (ABP) loan defaulters across the State, through its Alternative Dispute Resolution (ADR) centres set up across the state
The State Chief Judge, Justice Musa Danladi stayed this while addressing journalists in the State, he said the funds were recovered from those that refused to repay their loans due to some skepticisms.
Stressing further that the alternative dispute resolution window has succeeded in the recovery of over 90 per cent of the Anchor Borrowers loans granted by the CBN to the beneficiaries in the state.
“The state government stood as a guarantor for Anchor Borrowers. Somehow, people think they should not pay. And if they don’t pay, it is the government’s money that will be deducted directly from the source by the CBN because the government has already committed itself.
“And we said let’s use this alternative dispute resolution mechanism because people have confidence that when they pay to the court their money is secured.
“Over N900 million was recovered in a very short time without anybody having any ill-feeling. This would not have been possible within the short time of the recovery through the formal litigation process,” he said.
