Nigeria: Cross River Invests N100m to Float Micro-Finance Bank

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Oct 2017
Nigeria, October, 02 2017 - Prof. Ben Ayade, Cross River State Governor has disclosed that the State has made the required down payment of N100 million, which is the deposit amount required for the establishment of a micro-finance bank. According to him, the government had already done the N100million deposit, which he said was the minimum required for a micro-finance bank to be licensed.

“So we have paid and done all that we need to do, it is the turn of the Central Bank of Nigeria (CBN) to issue us a license”, the governor disclosed.

Ayade was speaking with newsmen on the farmyard of Ayade Rice Farms, his personal investment, when the first harvest from the farm was made.

He said: “So today, we are here to perform the formal harvest ceremony of the Ayade rice farm, which is a private farm, which land was acquired over 20 years ago.

“I am happy under the support of President Muhammadu Buhari’s administration, Governor Ayade decided to initiate this programme by starting off a massive rice farm, with the support of my good friend the governor of CBN, Mr. Godwin Emefiele, and also my brother and friend, the governor of Kebbi State who has been guiding me through the process.

“I am happy today to announce that we have a massive rice farm added to the Ayade value chain in terms of our agricultural sector; my message, therefore, for every Cross Riverian and indeed every political appointee of government is that you must own a land where you grow your rice, vegetable and others, you must be a farmer, that is the way to go”.

“So we have paid and done all that we need to do, it is the turn of the Central Bank of Nigeria (CBN) to issue us a license”, the governor disclosed.

Ayade was speaking with newsmen on the farmyard of Ayade Rice Farms, his personal investment, when the first harvest from the farm was made.

He said: “So today, we are here to perform the formal harvest ceremony of the Ayade rice farm, which is a private farm, which land was acquired over 20 years ago.

“I am happy under the support of President Muhammadu Buhari’s administration, Governor Ayade decided to initiate this programme by starting off a massive rice farm, with the support of my good friend the governor of CBN, Mr. Godwin Emefiele, and also my brother and friend, the governor of Kebbi State who has been guiding me through the process.

“I am happy today to announce that we have a massive rice farm added to the Ayade value chain in terms of our agricultural sector; my message, therefore, for every Cross Riverian and indeed every political appointee of government is that you must own a land where you grow your rice, vegetable and others, you must be a farmer, that is the way to go”.

He further said: “everybody should have his own farm, but the question is where you are going to get the money? I have an answer, we have already started the CRS micro-finance bank with agro-value chain in our fore front, so if you have a piece of land, all you need to do is to approach the micro-finance bank.”

He noted that his administration was introducing a new farming model, where government or indeed Ayade would not own the land, but rather to the community.

He said the government hoped to put the communities together on their own farmland and support them with technology and input given directly to help them and they take ownership.

On the capacity of his rice farmland, he disclosed that what he was dealing with in the meantime was 500 hectares, but the initial harvest was approximately 250 hectares for harvesting in this quarter

He further said: “everybody should have his own farm, but the question is where you are going to get the money? I have an answer, we have already started the CRS micro-finance bank with agro-value chain in our fore front, so if you have a piece of land, all you need to do is to approach the micro-finance bank.”

He noted that his administration was introducing a new farming model, where government or indeed Ayade would not own the land, but rather to the community.

He said the government hoped to put the communities together on their own farmland and support them with technology and input given directly to help them and they take ownership.

On the capacity of his rice farmland, he disclosed that what he was dealing with in the meantime was 500 hectares, but the initial harvest was approximately 250 hectares for harvesting in this quarter.



Source : Independent
 

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