Business Drive

The Central Bank of Nigeria says that 1779 farmers in Ogun State have benefitted from agricultural loans in 2021. The CBN, Abeokuta Branch Controller, Wahab Oseni, says the disbursement was part of the Agricultural Credit Guarantee Scheme Fund established by Decree No. 20 of 1977 to guarantee credit facilities extended to farmers by banks. He says the loan was targeted at increasing access to funds in the agricultural sector, adding that beneficiaries would get back 50 per cent of the interest if they met with terms of the loan.