Friday, November 4

El-Rufai drags 725 loan defaulters to EFCC

El-Rufai drags 725 loan defaulters to EFCC

Kaduna State Governor, Nasir el-Rufai, has reported 725 loan defaulters to the Economic and Financial Crimes Commission (EFCC) over agricultural loans that they accessed from Bank of Agriculture (BOA) Limited in March 2015.

Spokesman of the Governor, Mr Samuel Aruwan, who disclosed this to newsmen yesterday, said that the government has officially written the EFCC, requesting for the recovery of the funds from the beneficiaries, following breach of the terms and conditions of the loan. According to Aruwan, BOA in partnership with Kaduna State Government, had disbursed agricultural loan to 1,859 beneficiaries in March last year.

‘’However 725 beneficiaries failed to liquidate their loans to the tune of over 205 million naira, contrary to the terms and conditions of the loan,’’ he added.

“The agriculture loan scheme is an intervention of the state government in partnership with BOA meant to assist farmers in the state to have access to financial assistance in order to improve agricultural activities and ensure better harvest.

“It is revolving loan that enable farmers to access funds and repay after a farming year to enable other beneficiaries enjoy similar interventions. BOA has therefore forwarded names and details of the defaulting beneficiaries to the EFCC for investigation to commence.”

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