Oyo State authorities has expressed worries over the failure by beneficiaries of the 2024 N1 billion SAFER agricultural mortgage to repay.
The chairman of the Agricultural Credit score Company of Oyo State (ACCOS), Sheikh Taofeek Akeugbagold disclosed this whereas asserting plans to start the 2025 agricultural mortgage scheme with a single-digit rate of interest for farmers.
He warned that the loans had been assured by civil servants, and if farmers did not repay, deductions might be made out of their guarantors’ salaries.
“Let me categorical my disappointment over the poor reimbursement price amongst 2024 beneficiaries of the ₦1 billion SAFER mortgage. Defaulters might be barred from accessing the 2025 scheme”, he mentioned.
Akeugbagold acknowledged that preparations had been underway for mortgage disbursement to boost farmers’ productiveness.
In accordance with him, this can be a reaffirmation of the Oyo State authorities’s dedication to meals safety.
He defined that the core mandate of his company was to facilitate mobilisation of funds for the availability of agricultural loans at an inexpensive price, and to make sure easy accessibility to mortgage services to farmers.
The favored Islamic cleric urged all defaulting farmers to clear their excellent money owed instantly to be eligible for future mortgage alternatives, particularly the forthcoming 2025 agricultural mortgage programme.
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