Agric input suppliers petition finance minister over payment
A forum of agricultural input suppliers on the Federal Government’s Anchor Borrowers Programme from Sokoto State has petitioned the minister of Finance over non-payment of their contract sums by the United Bank for Africa Plc (UBA). It would be recalled that the forum had earlier petitioned the Central Bank of Nigeria (CBN) governor on the […]
A forum of agricultural input suppliers on the Federal Government’s Anchor Borrowers Programme from Sokoto State has petitioned the minister of Finance over non-payment of their contract sums by the United Bank for Africa Plc (UBA).
It would be recalled that the forum had earlier petitioned the Central Bank of Nigeria (CBN) governor on the matter.
The forum, however asked the minister to direct and prevail on CBN to proffer solution to ensure that the affected companies are rightly, justly and expeditiously paid their money.
The forum, in the petition by 15 agricultural input supply firms and dated April 24, said the companies constituting the forum were severally engaged as input suppliers in the Federal Government’s Anchor Borrowers Programme in Sokoto State under the administration of the CBN.
The petitioners said: “All the companies have fully discharged their contractual obligations thereof. However, the undesirable challenge is that payments due to some of the companies have been withheld by United Bank for Africa (UBA) Plc Sokoto State branch, months after taking custody of the fund for onward disbursement to the companies.
“Also, Access Bank Plc prematurely withdrew from the programme, leaving some of the companies stranded while FCMB commenced disbursement to companies on its payment list but did not complete the process thereby excluding some companies from payment.
“The situation is distressing and critical for the affected companies as it is jeopardising their corporate existence. We have written to CBN on the issue but have not received any response weeks after correspondence, hence our recourse to your esteemed office for your kind intervention.”