Lagos - The Central Bank of Nigeria (CBN) says it has extended the
Commercial Agricultural Credit Scheme from September 30, 2016 to September 30,
Notice of the extension is contained in a circular issued by Kelvin
Amugo, the bank's Director of Financial Policy and Regulation Department on
Wednesday in Lagos.
The circular, tagged: ``Revised Strategy for the Implementation of
Commercial Agriculture Credit Scheme'' to commercial banks, quoted Amugo as
saying the extension was to enhance credit supply to farmers.
The extension took effect from May 14, he said, and
urged commercial banks to educate their clients on the new development.
The scheme is to fast track the development of the agriculture sector.
The scheme provides credit facilities to agriculture enterprise at a single
digit interest rate.
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