DSS indicts ‘CBN staff’ for aiding theft of Anchor Borrowers’ funds, explains how

Oct. 9, 2024 - Nairametrics

“Thus, the investment in the Zamfara farmlands became a total loss,” he explained, noting that relevant stakeholders, including staff of Keystone Bank Ltd, were allegedly aware of the situation. BackstoryThe Anchor Borrowers Programme (ABP) of the CBN was established in November 2015 with the objective of creating economic linkages between smallholder farmers (SHF) and anchors.

Nairametrics previously reported that the House of Representatives initiated an investigation into the N1.12 trillion Anchor Borrowers Scheme, a federal government initiative for agricultural funding through the CBN.

Those affected were from the Trade and Exchange Department, Securities Department, Development Finance Department, Purchasing and Support Services Department, and Public Affairs Department, Nairametrics previously reported. Insiders said those retrenched directly or indirectly managed development funds such as the Anchor Borrowers Scheme (ABP), Real Sector Support Facility (RSSF), Micro, Small and Medium Enterprises Development Fund (MSMEDF), and the Agricultural Credit Guarantee Scheme.

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