CBN calls for stronger bank participation in agric credit scheme
Edited by Kayode Sunday
Alhaji Umar Mustapha, Acting Branch Controller of the Central Bank of Nigeria (CBN), Damaturu, has urged Deposit Money Banks to deepen participation in agricultural credit schemes to boost food security.
Mustapha made the call at the Annual Bankers’ Dinner and Award Night organised by the Yobe State Bankers’ Forum in Damaturu.
He said increased collaboration under the Agricultural Credit Guarantee Scheme would enhance agricultural activities, promote self-reliance and support economic growth and sustainable development.
According to him, the annual dinner provides an informal platform for interaction with stakeholders, feedback on banking operations and recognition of institutions that excelled in service delivery.
Mustapha said the forum also offered an opportunity for stock-taking, idea sharing and assessment of targets and achievements, with a view to improving performance in the new year.
He disclosed that 16 Deposit Money Banks in the state withdrew N16.33 billion in the year under review, compared with N21.28 billion in 2024.
He added that deposits rose to N28.62 billion from N4.26 billion recorded in 2024, indicating positive impact of the cashless policy.
Mustapha called for more customers sensitisation on electronic payment channels to reduce cash-based transactions and improve efficiency in the financial system.
On consumer protection, he said complaints valued at N15.66 million, including failed transfers, ATM and POS errors, were resolved, while outstanding cases were escalated for further action.
He said the CBN Development Finance Office in Damaturu had processed and guaranteed over 10,000 applications under the Agricultural Credit Guarantee Scheme over the years.
In a keynote address, Prof. Ali Abbas, North-East Development Commission Yobe State Coordinator, commended banks and staff for resilience during insurgency and for safeguarding customers’ funds.
Abbas also lauded the Yobe State Government and security agencies for providing an enabling and secure environment for banking operations.
Our Correspondent reports that outstanding staff from various banks received awards in different operational and sporting categories at the event.
