N5.67bn Anchor Borrowers Debt: CBN Issues Final Repayment Notice To Defaulters

The Central Bank of Nigeria (CBN) has issued a final demand notice to seven companies who benefited from its Anchor Borrowers’ Programme, an agriculture targeted intervention, to pay up the total sum of N5.67 billion.

In a recent directive to NIRSAL Microfinance Bank Limited, the CBN directed it to recover all non-performing intervention loans from the debtors.

The loans were granted by NMFB under the Anchor Borrowers’ Programme of the CBN.

The companies particularly affected are: Sadolen Interworld Ltd, with Saidu Audu Adaji and Nura Musa Hassan as promoters with a current exposure of N2.05 billion; Gum Arabic Farms and Commodities Ltd, with Alhaji Yusuf Ibrahim Babangida as promoters and a current exposure of N1.22 billion and Prime Synergy Global Solutions Ltd with Mercy Ikeji and Jennifer Nyesom-Effiong as promoters with an exposure of N1.45 billion.

Others are Asuj Food Production and Processing Ltd, with Abubakar Umaru Jibrilla as the promoter with an exposure of N581.41 million Souvenire Seeds Nigeria Ltd with Roseline Omokora as the promoter and an exposure of N158.18 million and Con Investment Ltd with Lady Josephine Nwaeze as the promoter with a current exposure of N211.6 million.

In a statement that was issued by management of NIRSAL MFB it stated that demand notices had been issued by bank to the last known addresses of the aforesaid customers.

The Anchor Borrowers’ Programme is intended to create a linkage between anchor companies involved in the production and processing of selecting key agricultural commodities and small holder farmers.