WorldStage Newsonline— The Bank of Agriculture (BoA) said it was making effort to recover over N60 billion from farmers who took loan from the bank.
BoA’s Managing Director, Malam Mohammed Kabir who stated this at a workshop organised by the Agege Branch of the bank said the bank was on a recovery mission of the disbursed funds.
The workshop is entitled “Enhancing Wealth Creation Across the Agricultural Value Chains’’.
Kabir, who was represented by the Zonal Manager South-West, Mrs Idiat Folorunsho, said the bank was currently limited to grant funds to youths who were ready to delve into agriculture.
“The bank is on a recovery mission currently because we have about N60 billion outside, disbursed to farmers who have refused to pay back.
“If a farmer collects money and refuses to pay back, how will the bank be able to fund others who wish to collect money for their agricultural projects to further drive the economy.
“We are planning to open more branches that will be befitting of the bank’s status; but how do we do that when the huge amount is outside.
“Some farmers will collect these monies and we will not be able to get them because they will change their addresses and all that; it’s sad.
“The situation is very commendable here in the South-West,’’ he said.
Kabir said that the trend was only common with men, adding that women were always prompt in paying back.
He said that other local government areas should emulate the Kosofe Local Government of Lagos State that provided the bank with office accommodation and land for a permanent structure.
