John Shiklam in Kaduna
The Kaduna State Government has invited the Economic and Financial Crimes Commission (EFCC) to recover over N200 million agricultural loans from 725 defaulters.
The agricultural loans, according to the spokesman of Governor Nasir El-Rufai, Mr. Samuel Aruwan, were disbursed by the Bank of Agriculture (BOA) in partnership with the state government in March 2015 to 1,859 beneficiaries.
Aruwan who disclosed this to journalists on Thursday in Kaduna, said 725 beneficiaries of the loan failed to liquidate theirs, amounting to over N200 million contrary to the terms and conditions of the loan.
He said the state government had officially written to the EFCC, requesting for investigation and recovery of the funds following the breach of the terms and conditions of the loan.
“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 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” Aruwan explained.
