CBN Rewards Best Farmers Under ACGSF For 2021 In Oyo

CBN Rewards Best Farmers Under ACGSF For 2021 In Oyo

THE Central Bank of Nigeria (CBN), recently rewarded farmers who performed creditably well in its Agricultural Credit Guarantee Scheme Fund (ACGSF) for the year 2021.

Presenting the award during a ceremony, the Branch Controller, Mrs Ogundero Olufolake Mobolade explained that the Best Farmer of the Year Award under the ACGSF was introduced in the 1980s to recognise selected farmers that borrowed under the scheme, adopted best agronomic practices, kept good records and repay their loan as and when due. She added that the award was re-introduced in 2020 to select and reward farmers in the Nation.

Furthermore, she said that the awardees would serve as an example to other borrowers and motivate them to repay their loans on or before the due date thereby making them further potential award winners.

Finally, the Branch Controller appreciated the Head, Development Finance Office, the Management of Lapo Microfinance bank and the Selection Committee (State Chairman, All Farmers Association of Nigeria – AFAN, Mr John Olateru; the Branch Manager, Nigerian Agricultural Insurance Corporation, Ibadan Branch – NAIC – Mrs Kemi Famodu; the Head, PMRO, NIRSAL Plc – Mr Adedayo Adebiyi) for a thorough selection process.

The awardees, Mr Olaniyan Saheed Adebayo (1st Position), Mr Kolawole Abimbola (2nd Position) and Mr Iyanda Oluwasegun Opeyemi (3rd Position), expressed their appreciation to Lapo Microfinance Bank for the opportunity to access loan for farming and also the Central Bank Nigeria for the Interest Drawback initiative to reduce the interest burden on agricultural loans and the recognition for the ACGSF award.

The awardees received cash prizes of N100,000.00, N75,000.00 and N50,000.00 respectively with plaque and certificates.

Also, Ms Ero Mercy, a representative of Lapo Microfinance Bank appreciated the CBN for the award given to them as the Best Participating Financial Institution under the scheme.