Defaulting anchor borrowers to face EFCC — BOA

The Bank of Agriculture (BOA) says it will partner with the Economic and Financial Crimes Commission (EFCC) to recover anchor borrowers loan from defaulting farmers who took the loan since the 2015 farming season. BOA’s Managing Director, Alhaji Kabiru Mohammed-Adamu, made the assertion in an interview with the News Agency of Nigeria (NAN) in Zaria, […]

The Bank of Agriculture (BOA) says it will partner with the Economic and Financial Crimes Commission (EFCC) to recover anchor borrowers loan from defaulting farmers who took the loan since the 2015 farming season.

BOA’s Managing Director, Alhaji Kabiru Mohammed-Adamu, made the assertion in an interview with the News Agency of Nigeria (NAN) in Zaria, Kaduna State.

NAN reports that the managing director spoke on the sidelines of the flagging off of loan disbursement to benefiting members of the Maize Association of Nigeria (MAAN) drawn from across the North West.

He said, “We have appointed recovery agents nationwide, some of them are lawyers, some are professional recovery agents and they are working day and night to engage the farmers to be able to repay.

“We are doing all these as a moral suasion to ensure that farmers repay the loan.

“However, for those farmers that refused to pay back, we can’t sit down without doing anything to recover the money.

“As such, we are collaborating with security agencies, the EFCC in particular, and they have been highly supportive to fish out where those funds have been diverted to.”