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Loan Recovery: CBN issues final demand notice to beneficiaries of ABP with Nirsal MFB

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The Central Bank of Nigeria has directed the recovery of all non-performing intervention loans worth over 5 billion naira granted by NIRSAL Microfinance Bank Limited(NMFB) to beneficiaries of the Anchor Borrowers’ Programme(ABP).

To this end, Nirsal MFB has issued a final demand notice to seven(7) Customers, to offset their indebtedness to the bank under the ABP intervention scheme of the CBN.

According to a statement made available to the media and signed by the management of NMFB, the Customers indebted to the bank under the APB scheme include:

Sadolen Interworld Ltd, with Saidu Audu Adaji and Nura Musa Hassan as promoters with a current exposure of
N2,050,831,880.50, Gum Arabic Farms and Commodities Ltd, with Alhaji Yusuf Ibrahim Babangida as promoters with a current exposure of
N1,220,957,105.30, and
Prime Synergy Global Solutions Ltd with Mercy Ikeji and Jennifer Nyesom-Effiong as promoters with an exposure of N1,451,720,437.00.

Others are: Asuj Food Production and Processing Ltd, with Abubakar Umaru Jibrilla as the promoter with an exposure of N581,416,350.39,
Souvenire Seeds Nigeria Ltd with Roseline Omokora as the promoter and an exposure of N158,184,197.50 and
Con Investment Ltd with Lady Josephine Nwaeze as the promoter with a current exposure of N211,605,477.96.

The Management of Nirsal Microfinance Bank further noted that it had earlier issued Demand Notices to the last known addresses of the indebted beneficiaries, adding that this Public Notice serves as the final demand notice to them.

The Anchor Borrowers’ Programme(ABP) is a Central Bank of Nigeria(CBN) intervention scheme.

It is a single digit Loan, established by the Federal Government, in 2015, for the purpose of boosting the agricultural sector of the economy and designed to create an economic linkage between small holder famers and agro-processors or Anchors.

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