After the recovery of agricultural debt, the Bank of Nigeria has started taking loans against Covid-19

 After the recovery of agricultural debt, the Bank of Nigeria has started taking loans against Covid-19 Information from Nigeria says that t...

 After the recovery of agricultural debt, the Bank of Nigeria has started taking loans against Covid-19

Information from Nigeria says that the central bank of the country, CBN, has begun to implement the loan that it has given to some citizens in order to ease the pain of the economic crisis caused by the outbreak of the Corona epidemic in other parts of the world.

The Bank of Nigeria has provided loan support since 2020.

Sources say that the CBN bank has already started withdrawing the money it owes to some of the borrowers from their accounts, but some are complaining about the process of receiving the money, where instead of withdrawing the money slowly, then They have been stealing the total amount of support they have benefited from at the same time, which they said is putting them in the trouble of being paralyzed in their daily activities.

Another issue that is now attracting attention is the promise made by the Nigerian government to complete the collection of the loans it gave to tens of thousands of farmers in the country under the 'Anchor Borrower' program that started in 2015, in order to improve agricultural activities.

On this Monday, the deadline set by the President of Nigeria, Bola Ahmed Tinubu, to ensure that the agricultural loan from the beneficiaries has been fulfilled.

The Central Bank of Nigeria said that by 2022, at least 4,800,000 farmers have received support from the 'Anchor Borrower' agricultural development program, but most of those who benefited from the loan support have not returned the money, despite the price of raw materials. The farm they cultivated has increased a lot.

A report by the International Monetary Fund (IMF) shows that 76 percent of the amount of loans given by the CBN to Nigerians have not been repaid.

This is what made the new president of Nigeria vow to end the problem.