Central Bank of Nigeria, CBN, has defended its Accelerated Agricultural Development Scheme, AADS, in Bayelsa State and that allegations bordering on fraud in the programme were untrue.
The CBN made the clarification during a courtesy visit to the Bayelsa State Governor, Douye Diri at the Government House Yenegoa on Monday.
The CBN Yenagoa Branch Controller, Mr. Francis Ene-Asuquo who led the team on the visit, stated that so far, N600 million had been disbursed directly to poultry farmers in the state, which made it possible for them to now supply eggs to neighbouring states in commercial quantity.
Mr. Ene-Asuquo who lauded the state government for its investment in agriculture and for the robust partnership between both parties, acknowledged that for the first time since its creation, Bayelsa has fully keyed into the CBN’s Anchor Borrowers Scheme, which has propelled farmers to establish themselves into clusters in the state.
He said the government also keyed into the bank’s agric programme in which over N2.2 billion has been disbursed to no fewer than 2,000 Bayelsans.
While clearing the air on the N3 billion agricultural loan fraud allegation peddled by one Mr. John Idumange, a former General Manager of the Bayelsa Radio Corporation, against the state government, the CBN’s Head of Development Finance, Mr. Stanley Oruyeigha, dismissed the claim as mere speculation and outright falsehood.
Mr. Oruyeigha confirmed that N1.5 billion of the amount was disbursed in the first phase for infrastructure development, which includes completion of the cassava processing factory at Ebedebiri while in the second phase, the sum of N1.438 billion has been disbursed directly to 3,500 farmers as well as for the purchase of various agricultural inputs.
“There are no issues with the N3billion agric loan to Bayelsa farmers. The first tranche of N1.5billion was meant for infrastructure and that includes land clearing. No contract of N40 million was paid to anyone. Everything about the fund is safe. Our partner bank is Access Bank.
“I want to emphasise that no money is missing nor was shared. The Accelerated Agriculture Development Scheme is already a success in the state and it is on course. The land clearing is going on well. CBN is satisfied with the progress so far in Ayamasa, Angalabiri, Korokorosei, Sampou, Agbere, Amassoma and other communities. The governor has never interfered with nor manipulated the scheme since it started,” he said.
Responding, Governor Diri said his government was not deterred by the activities of armchair critics, instead, it is focused on changing the developmental narrative of Bayelsa.
While maintaining that his administration would continue to partner the CBN to actualise the objectives of his prosperity agenda for the state, he explained that the agric loan was already being processed before his administration came on board and that he would not be deterred by those trying to cause a rift between him and his predecessor.
Diri affirmed that with the level of commitment being channelled into farming, the state would soon patronise only home grown rice.
He further emphasised that his administration would build on the legacies of the previous administration in agriculture.
“We are not deterred by armchair blackmailers and critics. We are focused and we want to bring prosperity to our people. One of the ways to do that is to continue the partnership with CBN in developing our agricultural potential.
“This agric loan was in the offing before we came on board and we followed it up because government is a continuum. I give credit to the former governor and the government that started this agric loan process. Assuming we did nothing about it, that would have been the end of this money they are crying about.
“I was informed that our state has missed out on several other similar schemes. So, to those blackmailers, I would do more of this for the benefit of our people and our state.”
“I have refused to say anything and allowed the system to flow. Fortunately, God has made it possible within this period for CBN to pay a courtesy visit. Before the full glare of the press, we have all heard how the N3 billion is being managed. It is not managed by the state government. There are no funds in the Bayelsa State government treasury concerning the N3 billion. It is managed by the CBN and the Access Bank.
“If anybody wants to be part of it, please approach them. I run a government where commissioners appointed have what it takes to run their ministries,” Diri stated.
