Latest News Update: SEIFAC/CBN Disbursement Loan Date.
The central bank of Nigeria in line with its mission of fostering national growth and development established the anchor borrowers program on November 17, 2015, to help boost the nation’s agricultural sector.
The program introduced under the President Muhammadu Buhari-led administration is intended to help create a link between anchor companies and smallholders farmers (SHF’s) of key agricultural commodities by providing loans, agricultural equipment, and blueprints on how to tackle farming challenges.
Since the establishment of the anchor borrowers program, several schemes and incentives have been set up by the CBN, and one of those which have stood out is the SEIFAC/CBN anchor borrowers program.
The Federal Government has approved the SEIFAC loan for the 1st batch of SEIFAC / CBN Smallholder Farmers, disbursement will commence soon.
All Farmers who registered for the SEIFAC/CBN Anchor Borrowers Programme will be credited, after successful verification.
When will SEIFAC / CBN Start Payment
The SEIFAC through the Central Bank of Nigeria (CBN) will start Disbursement on Thursday, the 19th of August 2021. All shortlisted candidates are advised to upgrade their bank account before the disbursement date.
How Much is SEIFAC / CBN Payment to smallholder Farmers Loan?
SEIFAC/CBN Anchor Borrowers Programme will pay each of the smallholder farmers a loan from 500, 000.00 to 1,000,000.00 naira.
PAYMENT OF LOAN
According to the central bank of Nigeria concerning the anchor borrowers program, loans granted to smallholder farmers will be repaid with harvested produce,
which will be mandatorily delivered to the anchor’s designated locations in line with any provisional agreement reached.
This mode of loan payment stands with SEIFAC except otherwise stated. Also, the interest to be paid alongside the loaned capital is usually communicated on loan approval.