Connect with us
X
Categories:

Business

Central Bank Pledge Support For Cotton Farmers In Ekiti

All Naija Entertainment

Published

on

CBN - Central Bank

The Central Bank of Nigeria, (CBN) has assured members of National Cotton Association of Nigeria (NACOTAN) Ekiti chapter of its financial assistance to enable them embark on massive production of cotton in the state.

Download & Install The New ANE Android App To Your Device
Hello!! Have you heard about the deadly virus called Coronavirus? No? See What It Is & How To Prevent It Here. Also Stay Connected & Get Latest Updates On Coronavirus Here. Please be safe! We LOVE You.


A Representative of CBN, Mr Olutayo Sowumi, gave the assurance on Friday at the inauguration of the Recovery of Cotton Outputs for 2019/2020 planting season under the CBN and NACOTAN Anchor’s Borrower programme

Newsmen report that the programme was held in Itapaji Ekiti, Ikole Local Government Area of Ekiti.

”The Anchor Borrower’s Programme was inaugurated by the Federal Government to boost productivity and alleviate poverty among the farmers, it is on this note that the CBN determined to assist the NACOTAN members to make life better for them,” Sowumi said.

He said that the apex bank management was delighted with the conduct and hard work of the NACOTAN members for maximizing the scheme in the state.

He, therefore, urged other cotton farmers, who benefited from the facility, not to delay in the repayment as the loan was a revolving one which other farmers were expected to benefit in subsequent years.

“The beneficiaries should come willingly and pay so that others can also benefit. If they do not pay it means they are trying to terminate the programme.

“It should be a revolving fund, as you collect, you produce, you sell and then pay the loan so that others that have not benefited earlier can also benefit.

“I wish to say that NACOTAN members are the best association that CBN has ever worked with without any problem.

“They are disciplined, hardworking and I want to assure them that the CBN management will continue to support them financially to make their cotton production easy and successful,” he said.

Gov. Kayode Fayemi of Ekiti, represented by the Commissioner of Agriculture and Rural Development, Mr Folorunso Olabode, said that his government was determined to support NACOTAN to nurture and sustain the production of cotton in the state.

Fayemi said that the state would welcome investors who are determined to improve the economy of the state and provide job opportunity for the youths.

The governor, who described Ekiti as an agrarian state, said that his administration was determined to make agriculture, not only lucrative but also attractive.

He charged NACOTAN members to mobilise cotton farmers to go back to farm and also encourage more private investors into the cotton sector.

The State Chairman of the association, Mr Michael Olorunfemi, assured the Federal and state government that they were determined to work hard to produce cotton to boost the state and the nation economy in general.

He commended the Federal Government for including cotton farmers in the Anchor Borrowers Programme, noting that, it would go a long way in enhancing the living standard of farmers in addition to ending the importation of the commodity.

He said that the CBN intervention was to enhance food production in line with President Muhammadu Buhari’s policy on food security.

He, therefore, appealed to the state government to provide adequate security for the farmers against the invasion of the herdsmen in their farms.


Get More Stories Like This On: Facebook: @AllNaijaEntertainment, Twitter: @AllNaijaEntertainment
Reach us on WhatsApp via: +2348104471989

Don’t Miss!

Join "ANE sabi" clique

Don't miss a thing, get ogbonge ANE latest updates to fuel your conversation daily.





Latest Exchange Rate

Donate To ANE!


Mind buying a coffee to support us here at All Naija Entertainment?. Yes?

Donate Now
Angry mob attacks The Nations Newspaper building
News1 hour ago

Angry mob attacks The Nations Newspaper building, on fire [VIDEO]

Babajide Sanwo-Olu
News9 hours ago

#EndSARS: No fatality at Lekki toll gate – Sanwo-Olu

Femi Adesina
News9 hours ago

#EndSARS: Presidency breaks silence, appeals for calm across Nigeria

Babajide Sanwo Olu
News9 hours ago

BREAKING: Sanwo-Olu extends Lagos curfew by 72 hours

THE UNBREAKABLE VIRGIN
Stories9 hours ago

[STORY] THE UNBREAKABLE VIRGIN (Episode 26)

THE UNBREAKABLE VIRGIN
Stories9 hours ago

[STORY] THE UNBREAKABLE VIRGIN (Episode 25)

Tinubu
News9 hours ago

#EndSARS: Tinubu deny owning Lekki Toll Gate, slams Army for using live bullets on protesters

News10 hours ago

#EndSars – BRT Bus Terminal On Fire In Lagos [VIDEO]

TVC On fire
News10 hours ago

BREAKING: TVC News on fire [Video]

Angry mob sets BRT buses on fire in Lagos
News10 hours ago

Angry mob sets BRT buses on fire in Lagos [VIDEO]

Bola Tinubu
News12 hours ago

Bola Tinubu breaks silence on sponsoring Lekki Toll Gate Massacre

Sports12 hours ago

UEFA Champions League: Leo Messi sets new record in 5-1 win over Ferencvaros

Paul Pogba
Sports12 hours ago

Champions League: Why I dropped Pogba for 2-1 win at PSG – Ole Gunnar Solskjaer reveals

Buhari
News12 hours ago

#EndSARS: HURIWA tell US, EU, Canada told to place sanctions on Buhari govt over Lekki killings

Sanwo-Olu visits victims, gives details on protesters shot
News12 hours ago

Lekki Killing: Sanwo-Olu visits victims, gives details on #EndSARS protesters shot [Photos]

Marc-André ter Stegen
Sports12 hours ago

Barcelona renew Pique, De Jong, Lenglet, Ter Stegen contracts

Rihanna
Entertainment12 hours ago

Lekki Shooting: My heart is broken for Nigeria – Rihanna

New Nicki Minaj Photo
Entertainment12 hours ago

Lekki Toll Gate shooting: Nicki Minaj salutes Nigerian heroes

Odion Ighalo
News12 hours ago

Lekki Killing: “I am ashamed of Nigerian Govt” – Ighalo attacks FG [Video]

Ansu Fati
Sports18 hours ago

Barcelona’s Ansu Fati, González López set new UEFA Champions League record, flogs Ferencvaros

ANE Billboard Hots!



Join "ANE sabi" clique

Don't miss a thing, get ogbonge ANE latest updates to fuel your conversation daily.





Copyright © All Naija Entertainment.

css.php