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CBN Apex bank trains bankers on Agric loans

The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (Nirsal), a subsidiary of the Central Bank of Nigeria (CBN) has commenced training of bankers on Agricultural Value chain financing in the country.

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Central Bank Governor Godwin Emefiele speaks during the monthly Monetary Policy Committee meeting in Abuja, Nigeria January 26, 2016. play Central Bank Governor Godwin Emefiele speaks during the monthly Monetary Policy Committee meeting in Abuja, Nigeria January 26, 2016. (REUTERS/Afolabi Sotunde)

Speaking on Tuesday, May 31, 2016 in Kaduna during an opening ceremony of a 3-Day Workshop, the Executive Director, Nirsal Plc, Mr Aro Afejide, said they were building the capacity of  bankers because there was issues of distrust between famers and bankers.

 “We have situation where bankers are not willing to finance small holders, real agric business people because they see agric sector as a high risk business. Likewise local farmers don’t want to approach banks for loan.”

The training is also looking at brainstorming with stakeholders to understand the risk involve and come up with workable road map to overcome it looking at the potentials in the sector, “Aro said.

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