Business
FG To Recapitalise Agric Bank With N15bn
The Managing Director, Bank of Agriculture (BOA), Dr Mohammed Santurak, says, the Federal Government is making plans to recapitalise the bank with N15 billion.
Santuraki said this in an interview with newsmen shortly after he paid a courtesy visit to the Sultan of Sokoto, Alhaji Sa’ad Abubakar.
He said “the bank’s current capital is N30 billion and the gesture is aimed at shoring up the capital base to N45 billion to make the bank stronger and more efficient, stressing that ‘this is in line with the Federal Government’s agricultural transformation agenda of President Goodluck Jonathan.”
Santuraki said that the bank had in the last 10 years distributed N43 billion as loan facilities to farmers across the nation. Stressing that “These loan facilities were provided to both dry and wet season farmers in the agriculture value chain to finance a myriad of farming activities, including NGOs and other stakeholders in the nation’s agriculture sector which is being revived by President Jonathan”.
He said “no amount of oil or gold would be enough, you still need food to eat. You cannot just throw away agriculture because of this basic need.’’
The Sultan had pledged to continue to be an active partner with the bank and other agencies aimed at further improving the living standard of Nigerians.
Santuraki had earlier told the Sultan that the visit was aimed at showing appreciation to him on his sustained support to the bank.
“It is a fatherly visit to also thank the Sultan for his contributions to peace and unity in Nigeria and humanity across the globe generally,” he said.
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