The Central Bank of Nigeria has said that the total loan repayments under the Anchor Borrowers’ Programme (ABP) stood 52 per cent in February.
The CBN spoke in reaction to a report by the International Monetary Fund (IMF) which claimed that only 24 per cent of loans disbursed under the ABP had been repaid.
In its recent report titled ‘Nigeria selected issues’, the fund said agricultural credit in Nigeria has not significantly boosted production even though there is the challenge of targeting the right recipients for the credit.
