The President of Cashew Nuts Association of Nigeria (CNAN), Mr Tunji Owoeye have urged the CBN to properly supervise the disbursement of the N200 billion grant for commercial farming to meet the desire impact.
Owoeye told News agency of Nigeria (NAN) in Lagos on Monday to ensure that the designated disbursing banks are properly monitored to ensure that only farmers, processors and allied sectors benefited from the loan.
Owoeye expressed fears that with the global financial meltdown and difficulties in accessing fund that banks could likely divert such agriculture grants to other uses.
He however applauded the federal government efforts for putting the fund in place saying it is one thing is to provide the fund but another thing to get access to the fund as planned.
He suggested that CBN should consult the various agriculture stakeholders on modality to disburse the loan adding that it should be done through cooperative and association, .because they can identified the members
In addition, he said the bank should give part of the loan as inputs saying such would discourage non_agrarians from taken undue advantage of the system
“ The farmer can get the necessary inputs such as fertilizer, seeds, chemical, land plough and cash for farm management,” he said.
Source: vanguardngr.com
Publication date: 5/18/2009
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