CBN To Starts SEIFAC N12.5Billion Loan Disbursement in Days
*wet Season farming arrangement
*ATM activation
* Heritage Bank warns applicants to activate their account
* AFDB president meets president Buhari on small farm holders
The Central Bank of Nigeria (CBN) is set to release over N12billion for a massive SEIFAC loan disbursement as the wet Season farming for 2022 commences.
This will happen in days to come as the CBN is 100% satisfied with SEIFAC implementation of CBN guidelines on ABP
In no distant time, CBN will in partnership with the SEIFAC hit applicants’ accounts with their desired loan amount for the wet season farming
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Similarly, applicants will be required to activate their account and ATM for fund withdrawals and management, this will be spearheaded by Heritage Bank
Revelation by Heritage Bank shows that about 30% of SEIFAC applicants are yet to activate their account for MAY disbursement, all applicants are therefore warned to visit the said bank and do account activation with immediate effect
As the wet seasoning farming approaches, the African Development Bank president, Doctor Akinwumi Adesina disclosed that 5 million small farmer-owners will be helped to cultivate:
1 million hectares of Maize
1 million hectares of Rice
250,000 hectares of sorghum
250,000 hectares of soybeans
Doctor Akinwumi Adesina disclosed this in an audience with President Buhari and pledged to support the nation to produce over 9milllon metric tons of food for the 2022 farming season