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Nigeria engages security agencies to recover anchor borrowers loan

Nigeria engages security agencies to recover anchor borrowers loan

Nigeria’s President Bola Tinubu has directed security agencies to go after debtors and defaulters in the country’s Anchor Borrowers Loan Programme instituted by the Central Bank of Nigeria (CBN).

Worried by large chunk of the money yet to be refunded by beneficiaries of the programme, Tinubu appeared set to recover the loans.

Checks revealed that the president gave the directive after investigations revealed that about N577 billion out of N1,103 793 587 359.70 given out as loan were yet to be refunded by defaulters including individuals, farmers associations, financial institutions.

This is as the defaulters, some of who have already been contacted by the security agencies, have a deadline of September 18 to repay the outstanding loan, even as some have already started refunding the money.

Checks further indicated that some of the monies are not totally in the hands of the investors but in the hands of the banks which were supposed to disburse the money but failed to disburse all the funds given to them by the Central Bank of Nigeria (CBN).

When contacted the EFCC Spokesperson, Wilson Uwujaren would not speak on the investigation, and spokesperson of the DSS,  Peter Afunanya, said it was not out of place for security agencies to be directed by the president to act on issues of national security and interest.

Meanwhile, the Spokesperson of the Nigeria Police Force (NPF), ACP Olumuyiwa Adejoibi, could not be reached for comment,  at the time if filing the report, as his phone line was unavailable.

 

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