Anchor borrower: Kano committee threatens legal action against defaulters

Kano State Anchor Borrower Recovery Committee has revealed that, it will soon embark on a recovery exercise that will include taking legal action against rice farmers who failed to repay the loan obtained under the Federal government’s agricultural intervention scheme.

Speaking to newsmen shortly after a meeting with Rice Farmers Association of Nigeria (RIFAN) held in the state capital, Chairman Kano State Anchor borrower recovery committee, who is also the Managing Director Kano Agricultural and Rural Development Authority (KNARDA) Professor. Mahmud Daneji said it was disheartening to see that for almost a year now out of the 5, 540 beneficiaries of the federal government agricultural intervention under the anchor borrower scheme in the state only 4 have successfully paid back.

Professor Deneji added that, it is important to know that the money disbursed to the rice farmers wasn’t free money and therefore the committee will embark on a recovery exercise from July 30th 2017.

“It is very important for all the beneficiaries to understand that, this is not free money. Other states have reached about 50% to 70% repayment level and here we are yet to record any reasonable amount. That is why we at the committee level are doing all possible procedures to see that we have recovered these monies and that included taking legal action against defaulters,” Professor Daneji said.

It could be recalled that a total of N906 million was million was allocated to Kano farmers and each farmer benefitted with N163, 710, it was also gathered that 5, 540 farmers have benefitted from the programme.