How to Access Loans from CBN Anchor Borrowers Programme

Are you a farmer or looking to venture into the farming business but lack funding? If yes, the Central Bank of Nigeria (CBN) Anchor Borrowers Programme is designed for you this season. This post will guide you on how to obtain loans from the Central Bank of Nigeria Anchor Borrowers Programme.

Since its establishment in 2015, over three (3) million farmers have benefited from the CBN Anchor Borrowers Programme, with over N554 billion disbursed to beneficiaries through the scheme.

This year’s Anchor Borrowers Programme approved sum of N600 billion for farmers to leverage during this year’s rainy season, enhancing food production in the country. This programme is one of the Federal Government-sponsored initiatives, primarily aimed at addressing food insufficiency, diversifying the country’s economy, creating jobs for the youth, and reducing the poverty rate.

Meanwhile, Mrs. Tomi Somefun, the CEO of Unity Bank, revealed that her bank, serving as an outlet for the CBN Anchor Borrowers Scheme, will support 120,000 maize farmers during this year’s maize planting season. You may like to also read how to apply for CBN AGSMEIS loan.

How to Apply for CBN Anchor Borrowers Programme

A lot of people have been asking us how does a farmer apply for the program. Below is the response we got from Unity Bank when Nyscinfo.com called the office line;

“Unity bank is an outlet, as it is a federal government programme aimed at funding operations of farmers in Nigeria.

“Unity Bank/CBN partner with the Union through creating accounts for the members of the Union and Farmers, which enables the Bank to run its checks of eligibility on prospective farmers for the loans,” they said.

Meanwhile, Nyscinfo learnt that the most important first step to get the CBN Anchor Borrowers’ Programme is to belong to any Farming Union that falls under the scheme like Rice Farmers Association of Nigeria or Maize Farmers Association of Nigeria.