CBN faults IMF’s abysmal rating of Anchor Borrowers’ Programme

The Central Bank of Nigeria, CBN, has said N503 billion, representing 52.39 per cent, has been repaid by farmers under the Anchor Borrowers Programme as of February 2023.

The Acting Director, Corporate Communications Department, Dr AbdulMumin Isa, disclosed this in a statement on Monday.

The figure, however, contradicts recent claims by the International Monetary Fund, IMF, that only 24 per cent of loans were repaid under the Anchor Borrowers’ Programme of CBN.

Disputing the claims, Isa explained that N1.079 trillion had been released under the programme, of which N960 billion is due for repayment.