You Must Recover N1.1 trn Anchor Borrows Loan from Beneficiaries, Tinubu Charges Security Agencies

President Bola Tinubu has reportedly given security agencies a deadline to go after defaulters of the Anchor Borrowers Loan Scheme.

The President asked the agencies to recover the loan on or before September 18 this year.

The Central Bank of Nigeria (CBN) during the administration of immediate past president, Muhammadu Bihari, disbursed about N1.1 trillion to farmers under the scheme.

The Anchor Borrowers’ Loan Scheme was floated by the CBN to provide cash for enhanced agricultural production in Nigeria especially in rice production, but appear to be in a ditch as beneficiaries refuse to repay the loan upon maturity date.

Towncriernews gathered that out of the N1.1 trillion disbursed by the CBN to beneficiaries, only about N546 billion has been repaid, leaving a balance of N577 billion.