CBN To Disburse N12.5B » Voice of Nigeria
SEIFAC Loan & Grant Update: CBN To Disburse N12.5B This Week
Everything is ready to start allocating large funds to Farmers Agricultural Cooperative (SEIFAC) for the economic benefit of smallholders – a small farmers’ cooperative run by smallholder farmers.
CBN, a pioneer for smallholder economic interest farmers’ agricultural cooperatives, will raise up to 12.5 billion naira next week, according to the Office of the Accountant General of Federer
It brings together smallholder farmers who grow: the following nine (9) crops, namely rice, corn, sesame, cassava, jam, peanuts, bumbarnets, sorghum, and soybeans in the Federation and FCT Abuja, grown in groups and collectively. To take advantage of the economies of scale of internal cluster mobility to break out of extreme poverty
SEIFAC beneficiaries have already opened a bank account and provided an active debit card to use the funds. The disbursed SEIFAC loan / grant will be used:
Encourage a culture of trust, openness and mutual concern at work, an interesting and challenging experience for participants.
Create a value-oriented organization that responds better and more to the customer. A real commitment to transparency, accountability and fairness in theory and practice.
Acquire, adapt and adopt reliable, efficient and cost-effective technologies.
Supplying quality planting material for affordable production through joint ventures outside Nigeria and Africa and around the world.
Ensure growth in key and non-core sectors.
Provide farmers with high quality fertilizers at the right time and in the right quantities to increase crop productivity.
Make plants energy efficient and constantly review various energy saving schemes.
Commitment to health, safety, environment and forest development to improve the quality of life in the community.
Social responsibility for a strong social structure.
Institutionalize core values and foster a culture of team building, empowerment, and innovation that will contribute to employee growth and strategic goals.
Qualifications and requirements
The loan would be for smallholder farmers engaged in the production of identified products throughout the country.
Legumes (soybeans, sesame, cow beans, etc.);
Tomatoes;
Livestock (fish, poultry, ruminants, etc.);
And any other goods that CBN will offer from time to time.
Cereals (rice, corn, wheat, etc.);
Cotton;
Roots and tubers (cassava, potatoes, yam, ginger, etc.);
Sugar cane;
Tree crops (palm, cocoa, gum, etc.);
The Farmers should be in groups/cooperative(s) of between 5 and 20 for ease of administration.
