Tuesday, April 20, 2021

CBN Exonerates Bayelsa Govt. Over N3-Billion Agric Loan

The Central Bank of Nigeria (CBN) has affirmed that its Accelerated Agricultural Development Scheme in Bayelsa State is on course, while dismissing fraud allegations against the state government surrounding an agricultural loan.

The Central Bank of Nigeria (CBN) has affirmed that its Accelerated Agricultural Development Scheme in Bayelsa State is on course, while dismissing fraud allegations against the state government surrounding an agricultural loan.

The clarification was made during a courtesy visit by Francis Ene-Asuguo, Yenagoa branch controller, and his team with Gov. Douye Diri at the Government House in Yenagoa.

Gov. Diri remarked that his administration would continue to partner with the CBN to actualize his prosperity agenda for the state and that he was not deterred by the activities of those he called detractors and professional petition writers, as he’s focused on changing the Bayelsa developmental narrative.

“I was informed that our state has missed out on several other similar schemes. So, to those blackmailers, I would do more of this for the benefit of our people and our state.

“This agric loan was in the offing before we came on board and we followed it up because government is a continuum. I give credit to the former governor and the government that started this agric loan process,” Diri said.

Stanley Oruyeigha, the CBN’s head of development finance, dismissed the allegation of a N3-billion agricultural loan fraud against the state government peddled by a former general manager of the Bayelsa Radio Corporation, John Idumange, describing it as mere speculation.

“I want to emphasize,” Oruyeigha said, “that no money is missing nor was shared. The Accelerated Agriculture Development Scheme is already a success in the state and it is on course. The land clearing is going on well.

“There are no issues with the N3billion agric loan to Bayelsa farmers. The first tranche of N1.5billion was meant for infrastructure and that includes land clearing. No contract of N40million was paid to anyone. Everything about the fund is safe. Our partner bank is Access Bank,” he noted.

 

 

 

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