The Central Bank of Nigeria (CBN) says it has invested N50 billion in the Nigeria Commodity Exchange (NCX) to ensure farmers get value for their products.
Godwin Emefiele, the apex bank’s governor said the NCX will guarantee effective pricing for farmers, minimise the adverse effect of middle men and transfer the gains from primary production to other modes of the value chain.
He said that 2.9 million farmers have so far benefited from the Anchor Borrowers’ Proramme (ABP) funding scheme, adding that the ABP, in the past five years, had been characterised by huge successes, learning points and challenges.
He explained that a total of 2,923,937 farmers, cultivating 3,647,643 hectares across 21 commodities through 23 participating financial institutions, had been financed in the 36 states of the federation and the Federal Capital Territory (FCT) since inception.
