The Central Bank of Nigeria (CBN), in partnership with Unity Bank and the National Cotton Association of Nigeria (NACOTAN), has flagged off distribution of Seeds/inputs to cotton farmers for the 2019 planting season nationwide.
The cotton input supplies to farmers is part of Anchor Borrowers Programme, an Agricultural Development finance initiative of the CBN operated as an on-lending scheme with participating financial institutions packaged to channel financing support to beneficiaries in the Agric sector.
The Executive Director, Corporate Planning & Compliance, Unity Bank Plc, Usman Abdulqadir, said CBN is partnering Unity Bank on account of the lender’s strong participation in the Anchor Borrowers Programme aimed at rebuilding customers confidence, alleviating poverty through cash crop production and making Nigeria self-sufficient in food production.
Unity Bank’s involvement in the ABP has created a social and economic impact on the income of households involving over 270,000 participating small-holder farmers.
Mr. Anibe Achimugu, the President of NACOTAN, said the Unity Bank/CBN programme would assist the association in sourcing the right seeds to be delivered to cotton farmers at the right time.
He also said that the association produced between 60,000 and 80,000 tonnes seed cotton in 2018, hoping that this figure will be surpassed in 2019.