CBN Agricultural Credit Guarantee Scheme Loan 2021/2022

CBN Agricultural Credit Guarantee Scheme Loan 2021/2022

CBN gives update about Agricultural Credit Guarantee Scheme Loan Application Form 2021/2022 and makes easier for Farmers in Nigeria to apply for Loan in CBN Branches across the Federation.

RECOMMENDED: American Lottery Registration Form Portal

Have you heard about CBN Agricultural Credit Guarantee Scheme (ACGS) or Agricultural Credit Guarantee Scheme Fund (ACGSF) Loan? 

It is a scheme managed by Central Bank of Nigeria (CBN). It provides guarantee cover to banks who give loans to the agricultural sector of the economy.

Trending   New Zealand Visa & The Brouhaha of Visa Categories For Residents

This encourages the banks to provide more funding to the farmers.

The Scheme has an authorized share capital of N3 billion controlled by the Federal Government (60%) and the CBN (40%)

Requirements for CBN Agricultural Credit Guarantee Scheme Loan

You must be a farmer. You must provide collateral if your loan amount is above N20,000.

The collateral must be in a tangible form or in form of 25% cash security of the intended loan amount in the form of savings.

ACGS Loan Updates

According CBN, Apart from the Head Office of the Central Bank of Nigeria, Development Finance Offices have been established in all branches of the Central Bank to administer the Agricultural Credit Guarantee Scheme.

Trending   Canada Visa Lottery Registration 2021: Canadian Visa Application Form | www.canadavisa.com

The Development Finance Offices are manned by Officers who function under the overall control of the Branch Controllers of the Central Bank in each branch.

RECOMMENDED: How to apply for CBN N5billion 100 for 100 PPP loan

The Central Bank set a single obligor limit for non-tangible collateral at N100,000, while the obligor limit for individual, group/co-operative or a corporate society is N50,000,000 (Fifty million naira only) for secured loans.

Trending   Easy Federal Government Loan 2021/2022–

How to apply for CBN Agricultural Credit Guarantee Scheme Loan

Apply Online Here

Federal government, through the Central Bank of Nigeria (CBN) has opened Development Finance Offices in all CBN branches nationwide to take close the administration of the Agricultural Credit Guarantee Scheme (ACGS) to farmers in Nigeria.

Leave a Reply

Your email address will not be published. Required fields are marked *