Oyo Govt States Criteria for Disbursement of N1bn Loan to Farmers

The Chairman of Agricultural Credit Corporation of Oyo State (ACCOS), Sheik Taofik Akeugbagold, has stated the criteria being used to disburse the N1 billion loan to farmers in ensuring geographical spread.

Akeugbagold made the revelation during a sensitisation tour to the seven geopolitical zones in the state which ended on Tuesday.

The Islamic cleric also said to access the N1 billion single digit interest loan, under the Sustainable Action for Economic Recovery (SAfER) sub-committee, an applicant ought to be a duly recognised farmer.

Speaking further on the criteria for the disbursement at Oke Ogun Zone 1, Iseyin area, Sheik Akeugbagold revealed that the reason for the tour was to interact and identify genuine farmers in the state.

He hinted that the corporation would guard against giving loans to ‘farmers on paper,’ saying this would ensure that the targeted farmers benefited from the gesture.

The chairman explained that after the sensitisation exercise, application forms could be got at each local government council at the office of the Director of Agriculture.

He added that ACCOS field officers and the identified banks in each domain would be involved in the process.

Speaking on the conditions for qualification, he said the form could only be collected individually free of charge; and stressed that the social media or internet was not a sales point, adding that no official of the board or the Ministry of Agriculture would liaise with residents from the internet.

Akeugbagold said an applicant would need a civil servant from Grade level 07 and above as guarantor, depending on the amount of loan requested.

“We are moving round the seven zones of the state to sensitise farmers on the need and where to access the N1 billion loan under the SAfER sub-committe on food security.

“The forms would be out after the sensitisation tour and they will be available for collection free of charge through the directors of agric in their various councils, the severed banks and ACCOS; the form is not online.

“However, please note that group lending would not be entertained,” the board chairman said.

The General Manager of the Board, Comrade Emmanuel Ogundiran, also said farmers owing the board, the state government or any of the participating financial institutions would not have access to the loan, except they were cleared by the board or the participating institutions.

He said the exercise would not be politicised in any form, adding that government, through the Ministry of Agriculture and Rural Development, had equally trained farmers on climate resilience.