The National Cotton Association of Nigeria NACOTAN,has recovered 4,000 tonnes of cotton from the Zamfara state cotton farmers as repayment of loan disbursed to them under the CBN Anchor Borrower’s programme for 2020/2021.
The State Chairman of the Association Alhaji Sani Dahiru announced this in Gusau, the state capital.
He said about 12,290 farmers benefited from the loan in the state, adding that, they are expecting the recovery of at least 10,000 tonnes from the farmers according to him prosecution await defaulters.
The recovered cotton would be distributed to two ginneries in the state among the 50 ginneries that were closed or working below 30 percent capacity of production.
Alhaji Sani Dahiru said with this laudable initiative under the Anchor Borrower’s Programme, many ginneries began operation at over 50 percent capacity thereby making many families to get more livelihood by engaging in farming and processing activities.
In his speech, the CBN Governor who was represented by the Branch Controller CBN Gusau Mr Buhari Abbas said in 2020 wet season, the CBN through the Anchor Borrower’s Programme financed over 100,000 cotton farmers.
END/ SANI HARUNA