Two Thousand Rice Farmers Risk Prosecution for non-Remittance of #300m Loan Facility

Benue state Chapter of Rice farmers association of Nigeria (RIFAN) has urged it’s indebtors in the State who took a revolving loan since 2018 to hasten action and repay the funds or risk prosecution In the state.
The association’s State Chapter Chairman, Comrade Fidelis Akosu made this revelation yesterday in Makurdi where he lamented that over two thousand farmers took a revolving  loan amounting to over #300million supposedly to refund the funds alongside with 9 percent interest in 2019 but reneged the contractual obligations.
Giving updates, the chairman further maintained that  farmers in the state were granted the facilities with the condition to repay the following year but the  beneficiaries defaulted.
He revealed that most of the  defaulters had their traditional rulers as their guarantors and yet couldn’t live up to the expectations of prompt repayment as at when due .
According to Mr Akosu, the farmers collected inputs Such as fertilizers, seeds, water pump hoses and lots more adding that the programme was anchored by the central Bank as the main borrower scheme for Rice farmers nationwide which the state is yet to honour it’s agreement.