BOA to Sign Pact with NIPOST on Loan Access to Farmers

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The Bank of Agriculture (BOA) in partnership with the Nigeria Postal Service (NIPOST) will sign an agreement to ensure easy reach by farmers.

AgroNatureNigeria reliably gathered in Abuja that the partnership, which is expected to hold today is to enable farmers from the 774 Local Government Areas (LGAs), across the country have access to services of the BOA.

A highly placed source in the bank explained that the move became necessary considering the recapitalization process the bank is currently working on.

The source said with the agreement, BOA will be able to make use of the NIPOST office to reach out to farmers directly from any part of the country.

BOA Chief Executive Officer, Alhaji Kabir Ibrahim, during an interview recently disclosed plans to capture 20 million farmers in the bank’s database within two years.

He also disclosed that as a bank partly owned by the Central Bank of Nigeria (CBN), the popular Anchor Borrowers Programme (ABP) currently executed by the apex bank for rice and other staple commodities will extend to other crops such as cocoa, soya beans, gum Arabic among other crops.

Ibrahim described the gesture as part of efforts to reposition the bank for better productivity.

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