Charles Nwankwo
“It is apt for farmers to take Agriculture as Business, it has gone beyond a way of life”
The Ebonyi State Branch Manager Nigerian Agricultural Insurance Corporation (NAIC) Mr. Michael Ani Iko made the advice at Ebonyi State University Microfinance Bank Conference room Abakaliki during the Disbursement of Agricultural Credit Guaranteed Scheme Fund to Farmers through Association of Micro Credit Institutions of Nigeria (AMCIN) who stood as collateral for the benefited farmers.
Mr. Michael Ani Iko advised the farmers to invest the loan in Agriculture and report any eventuality of loss to his office so that compensation should be given.
“We are here today to witness the deployment of Agricultural Credit Fund to genuine farmers carefully selected and empowered by AMCIN. We went to ensure everything you are giving today to enable us bring you back to business incase of any eventuality of losses.
‘If losses occurs, come to us, we are ready to settle you, our business is to bring you back and make you happy so that you wouldn’t have any loss at all.
“I want to tell you that Agriculture has gone beyond a way of life, it is now a business, all of you should take it as a lucrative business.
“Use whatever money you get judiciously because loan is not money for you to lavish especially this yuletide”.
Mr. Ani Iko was optimistic that Agriculture as business can bring Nigerian economy bounced back again.
Mr. Ani Iko most especially appreciated the unalloyed effort of AMCIN standing as a collateral for cooperatives to be given money, adding that it has never happened anywhere.
The South East Zonal Coordinator, Association of Micro-credit Institutions of Nigeria (AMCIN) Ebonyi State Chapter Princess Comfort Nweke said that AMCIN is determined to boost Agriculture across the thirteenth Local Government Areas in Ebonyi State.
Princess Nweke explained that ACGSF loan meant to assist farmers in Nigeria is made available to Ebonyi genuine farmers through the effort of the AMCIN office in collaboration with Central Bank of Nigeria (CBN) Ebonyi State Branch.
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Presenting the beneficiaries before the Ebonyi State University Microfinance Bank (EBSUMFB) and National Agricultural Insurance Commission (NAIC) Princess Comfort Nweke thanked EBSUMFB for trusting AMCIN and accepting to give loan to the genuine farmers, describing it as a means of alleviating poverty in Ebonyi State.
Princess Nweke added that AMCIN is consolidating on the developmental stride of his Excellency the Governor of Ebonyi State Rt. Hon. Francis Ogbonnaya Nwifuru to better the living standard of the Ebonyi people.
Princess Nweke said that the money is not for Christmas merriment but must be invested in Agriculture it is meant for. She encouraged the benefited cooperatives to carry members along while taking final decision on how the money should be used considering the present season.
The AMCIN Coordinator thanked Local Government Council Chairmen who have assisted their people to be benefiting from AMCIN products especially Hon. Stephen Ebere Nwogba who paid One Million Naira for registration of twenty (20) cooperatives.
The head of credit and loan recovery EBSU Micro Finance Bank Dr. Gogonius Onwudiwe who represented the Managing Director said that symbiotic relationship between CBN, AMCIN and EBSUMFB manifested to the reality of the loan disbursement.
Dr. Onwudiwe said that AMCIN is working wonders, adding that people may not know the magnitude of ANCIN contribution to help mankind in a special way. He said that during the Bank inspection of the Cooperative farms, it was discovered that the listed Cooperatives AMCIN presented to the bank are genuine farmers. He advised the beneficiaries’ to invest the money in Agriculture which it is meant for, crop or livestock production where it would yield profit.
He reiterated that CBN would definitely pay interest draw back to those that didn’t default in the repayment.
The leader of Ezza South Legislative Council Rt. Hon. Nwali Solomon Obinna who represented the Ezza South Executive Council Chairman Hon. Mrs. Euphemia Nwali and the members representing Ezza South in Ebonyi State House of Assemble Hon. Friday Ogbuewu ably represented by Emmanuel Nwamgbabu appreciated the combined efforts of CBN, AMCIN, NAIC and BSUMFB have made to navigate possible ways genuine farmers could actually secure fund to invest in Agriculture. They described the combined effort as a welcome development.
The Ezza South stakeholders advised the beneficiaries’ from Ezza South to use the agric fund very judiciously.
The benefited cooperative societies heads appreciation speech thanked AMCIN and other financial institutions that their concerted effort yielded unimaginable fruits.
It was gathered that AMCIN has deployed Twenty Seven (27) Million Naira to twenty Seven (27) cooperatives Societies One Million Naira each in Ebonyi State.