Oyo Gives Terms For Disbursing N1bn Loan To Farmers

Chairman, Oyo State Agricultural Credit Corporation of Oyo State, (ACCOS), Sheik Taofik Akeugbagold, has stated the criteria being used to disburse the N1billion loan to farmers to ensure geographical spread.

Akeugbagold who made the revelation during a sensitization tour to the seven geopolitical zones in the state which ended yesterday, said to access the single digit interest loan under the Sustainable Action for Economic Recovery (SAfER) sub-committee, an applicant must be a duly recognised farmer.

Dwelling on the criteria for the disbursement at Oke Ogun Zone 1, Iseyin area, Sheikh Akeugbagold, revealed that the reason for the tour was to interact and identify genuine farmers in the state.

He disclosed that the corporation will guard against giving loans to ‘farmers on paper’, saying this would ensure that the targeted farmers benefit from the gesture.

The chairman said after the sensitisation exercise, application forms could be gotten at each local government council at the office of the director of agriculture.

He added that the ACCOS field officers and the identified banks in each domain would be involved in the process.

Speaking on the conditions for qualification, the chairman said the form could only be collected individually free of charge.

He stressed that the social media or internet is not a sales point, adding that no official of the Board or the Ministry of Agriculture will liaise with residents from the internet.

Akeugbagold said an applicant would need a civil servant, from grade level 07 and above as guarantor, depending on the amount of loan requested.

According to him, “We are moving round the seven zones of the State to sensitize farmers on the need and where to access the N1b loan under the SAfER Sub-committee of food security.’’