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Anchor borrowers: BOA, CBN officials fingered in N265.7mn scandal

*Monies diverted for interest cropping

Officials of both Bank of Agriculture and Central Bank of Nigeria (CBN) Yola branch are working hard to explain the diversion of monies meant for the Anchor borrowers project running to about N25.7million. The money were alleged to have been diverted to commercial banks and fixing them in deposit accounts in order to harvest the interest.

While this was going on, the beneficiaries of the N265.7m Anchor Borrowers programme in the state, were busy waiting while the contractors refused to play ball since cash was not on ground.

www.gongnews.net gathered from our sources that the Anchor Borrowers’ Programme engaged the services of six Agro-Allied firms for the supply of Agricultural inputs including: Urea fertiliser, Seeds, Agro-Chemicals, NPK Fertiliser and water pumps and accessories worth billions of Naira for farmers in the state.

In a letter signed by the Head, Development Finance (DFO) Central Bank, Yola addressed to the Managing Director, Bank of Agriculture, Kaduna through the Bauchi Zonal Manager, the banks were directed to effect immediate payment to the contractors.

Titled: Re: Non Payment of Input Suppliers By Bank of Agriculture and dated 11th September, 2017, the letter regrets that up to the time of writing this memo the suppliers are yet to be paid for the inputs they supplied since January, 2017.

Confirming the scandal, Chairman, Programme Management Team (PMT), Adamawa State Anchor Borrowers’ Programme (ABP), Dr. Umar Buba Bindir, expressed disappointment over the manner the monies were handled, lamenting that it affected the performance of the scheme in the state.

When approached for comments Representatives of Bank of Agriculture, Mrs. Mary Baba and the Central Bank of Nigeria after a crucial stakeholders meeting last Thursday, said they have no official clearance to speak to the media.

However, 24hours after the meeting, during which the state government frowned seriously at both CBN and Bank of Agriculture management, officials of the apex bank led by Mr. Tunde Akande, visited the governor and apologised for the controversy surrounding the Anchor Borrowers funds.

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