Lagos - Access Bank Plc has been fined the sum of N353.39m for violating the Central Bank of Nigeria’s guidelines on the Commercial Agriculture Credit Scheme (CACS).
With the fine imposed on the bank, the total penalty charged for infractions on the CACS now stood at N1.242bn from inception in 2009 to May, 2014, reports New Mail.
The apex bank has so far released N229.282bn to the economy under the CACS in respect of 304 projects through 20 banks.
CACS was established to finance large ticket projects along the agricultural value chain.
Read more at New Mail.
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