The Bank of Agriculture has decried the alleged unwillingness of South-East businessmen to repay loans.
A representative of Bank of Agriculture’s South-East Zonal Office, Enugu, Mr Aaron Obigbo, who spoke at a workshop organised by a research institute, the Development Strategy Centre, Enugu, raised the alarm over the high rate of loan defaulters among borrowers in the South-East.The workshop themed, “Pro-poor growth, unemployment and poverty in Nigeria: A South-East agenda”, was organised in partnership with the African Economic Research Consortium, Kenya.
Speaking at the workshop, Obigbo said the Bank of Agriculture was faced with challenges that stemmed from the unwillingness of its borrowers in the South-East to pay back loans obtained from the bank.
Obigbo also disclosed that businessmen usually disguise as farmers to approach the bank for loans in the zone.
He said, “Our (South-East) businessmen come to the Bank of Agriculture and borrow money and they will not repay. “Some will collect inputs and sell them. They collect these inputs as farmers but they are not farmers.
“The man in the North will collect loans from BOA and pay back but our big men from the South-East collect this money and don’t bother to pay back.”
Obigbo also decried the inability of state governments in the South-East to take advantage of various schemes initiated by the bank, particularly the Anchor Programme, to better the lives of the people in the region.
According to him, while states in the northern part of the country are maximising the opportunities provided by the Bank of Agriculture, many states in the South-East are yet to identify with the bank.
Obigbo urged South-East governments to utilise the funding opportunities provided by BOA, and also abide by the institution’s terms and conditions
No comments:
Post a Comment