Business Briefs
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ABIA State has received N1 billion Commercial Agricultural Credit Scheme, CACS, loan from the Central Bank of Nigeria, CBN. According a statement by Enyinnaya Appolos, chief press secretary to the Abia State Governor, Uzo Azubuike, commissioner for agriculture in the state and Obinna Oriaku, his finance counterpart, confirmed receipt of the loan by the state.
The loan is an intervention to ensure farmers in the state engage in all season farming. Appolos, in the statement stressed that the facility is a single-digit loan of seven per cent interest with moratorium period of six months. He also added that the State Governor, Okezie Ikpeazu, has setup a committee saddled with the responsibility of mapping out modalities for the disbursement of the fund to deserving beneficiaries, stressing that the fund will not be used for political patronage.
The committee will be chaired by the Commissioner for Agriculture, Azubuike,” the statement said.
— Jun 27, 2016 @ 01:00 GMT
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