The Nigerian Agricultural, Co-operative and Rural Development Bank Limited(NACRDB) has secured the approval of the Senate to publish names of its debtors owing N5 million and above.

Mr Kingsley Ogungbade, an Executive Director of the bank, made the announcement on Monday in Kaduna

He said some 200 farmers who obtained facilities under the bank’s large-scale agricultural loans had refused to pay back.

Ogungbade said the defaulters included corporate organisations and individuals who had been served with warning letters in December 2009 to pay up their loans within 21 days.

He said that over the years, the small-scale farmers were the ones sustaining the bank, due to adequate repayment of loans.

Ogungbade said loan repayment would enable other small-scale famers to benefit from the bank’s facilities.

He said the bank’s mandate was to support farmers to ensure food security in the country.

(NAN)

Share