Top Ten Beneficiary Anchors and Their Financial Status

 Overview of the CBN's Anchor Borrowers Program (ABP)

The Central Bank of Nigeria (CBN) initiated the Anchor Borrowers Program (ABP) in November 2015. The program's primary goal was to foster economic connections between Small Holder Farmers (SHF) and Anchors. As of now, the program has supported approximately 4.67 million farmers engaged in maize, rice, or wheat farming.

Financial Overview

The CBN disbursed about N1.12 trillion to 563 anchors. Of this amount, N670.4 billion has been repaid, leaving an outstanding balance of N450.90 billion. Currently, efforts are underway by the apex bank to recover these funds.

Top Ten Beneficiary Anchors and Their Financial Status

10. COPMAN

• Disbursed Amount: N15.56 billion
• Repaid Amount: N11.21 billion
• Outstanding Balance: N4.24 billion
• Number of Farmers Reached: 85,703
• Approved Land: 85,703 hectares
• Facilitated by: NISRAL MFB

9. KEBBI STATE GOVT

• Disbursed Amount: N17.78 billion
• Repaid Amount: N9.62 billion
• Outstanding Balance: N8.16 billion
• Number of Farmers Reached: 91,323
• Approved Land: 90,772 hectares

8. MAGPAMAN

• Disbursed Amount: N20.07 billion
• Repaid Amount: N12.73 billion
• Outstanding Balance: N7.34 billion
• Number of Farmers Reached: 105,031
• Approved Land: 105,033 hectares

7. NECAS

• Disbursed Amount: N29.36 billion
• Repaid Amount: N12.27 billion
• Outstanding Balance: N17.08 billion
• Number of Farmers Reached: 107,205
• Approved Land: 202,175 hectares

6. WFAN

• Disbursed Amount: N30.31 billion
• Repaid Amount: N5.95 billion
• Outstanding Balance: N24.36 billion
• Number of Farmers Reached: 100,240
• Approved Land: 100,240 hectares

5. NACOTAN

• Disbursed Amount: N57.87 billion
• Repaid Amount: N39.15 billion
• Outstanding Balance: N18.71 billion
• Number of Farmers Reached: 354,941
• Approved Land: 370,617 hectares

4. THRIVE AGRIC

• Disbursed Amount: N92.07 billion
• Repaid Amount: N64.54 billion
• Outstanding Balance: N27.53 billion
• Number of Farmers Reached: 305,000
• Approved Land: 501,000 hectares

3. MAAN

• Disbursed Amount: N92.43 billion
• Repaid Amount: N65.37 billion
• Outstanding Balance: N27.06 billion
• Number of Farmers Reached: 477,638
• Approved Land: 606,870 hectares

2. AFEX COMMODITIES

• Disbursed Amount: N169.27 billion
• Repaid Amount: N103.10 billion
• Outstanding Balance: N66.17 billion
• Number of Farmers Reached: 483,476
• Approved Land: 865,258 hectares

1. RIFAN (Rice Farmers Association of Nigeria)

• Disbursed Amount: N283.01 billion
• Repaid Amount: N137.24 billion
• Outstanding Balance: N145.77 billion
• Number of Farmers Reached: 1,518,603
• Approved Land: 1,403,990 hectares

The CBN's Anchor Borrowers Program has been a significant initiative in supporting smallholder farmers and promoting agricultural development in Nigeria.