The Kaduna State Government has reported 725 farmers who defaulted in redeeming agricultural loans to the Economic and Financial Crimes Commission (EFCC).They are being accessed of obtaining the loans from Bank of Agriculture (BOA) Limited in March 2015.
Mr. Samuel Aruwan, spokesperson to Kaduna State Governor, Nasir Ahmad El-Rufai’s disclosed this to newsmen in Kaduna.
He said the government has officially written the EFCC, requesting for investigation and recovery of the funds following breach of the terms and conditions of the loan by the beneficiaries.
According to Aruwan, BOA in partnership with Kaduna State government in March 2015 disbursed agriculture loan to 1,859 beneficiaries. However 725 beneficiaries failed to liquidate their loans to the tune of over 205 million naira, contrary to the terms and conditions of the loan. “The agriculture loan scheme is an intervention of the state government in partnership with BOA meant to assist farmers in the state to have access to financial assistance in order to improve agricultural activities and ensure better harvest. It is revolving loan that enable farmers to access funds and repay after a farming year, to enable other beneficiaries enjoy similar interventions. BOA has therefore forwarded names and details of the defaulting beneficiaries to EFCC for investigation to commence. “You may also wish to know, that the BOA had on 21st October, 2016 reached out to the government with details of the defaulters and the outstanding loans,” Aruwan added.