The Kaduna State Government has reported 725 defaulters of agricultural loans they accessed from the Bank of Agriculture (BOA) Limited on March 2, 2015, to Economic and Financial Crimes Commission (EFCC) Mr. Samuel Aruwan, the spokesman to Gov. Nasir El-Rufa’i disclosed to newsmen in Kaduna on Thursday.
He said the government had written to (EFCC), requesting for investigation and recovery of the funds following the breach of the terms and conditions of the loan by the beneficiaries. 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 N205 million, contrary to the terms and conditions of the loan.
The agriculture loan scheme is an intervention of the state government in partnership with BOA.It is meant to assist farmers in the state to improve agricultural activities and to ensure better harvest. It is a revolving loan that enables farmers to access funds and repay after a farming year to enable other beneficiaries enjoy similar interventions. He said (BOA) had forwarded names and details of the defaulting beneficiaries to (EFCC) for
He said (BOA) had forwarded names and details of the defaulting beneficiaries to (EFCC) for investigation.
The BOA had on Oct. 21, reached out to the government with details of the defaulters and the outstanding loans”, he explained, That the State’s Ministry of Agriculture and Forestry and the Bank of Agriculture Limited, have been directed to furnish the (EFCC) with any additional information and/or documents that it may require for the investigation