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Banks guaranteed N3.6 billion loans to farmers under the ACGSF – CBN

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26,830 advances esteemed at N3.6 billion have been ensured to ranchers under the CBN’s Agricultural Credit Guarantee Scheme Fund.

The Central Bank of Nigeria reported that banks ensured 28,830 advances esteemed at N3.6 billion to ranchers under its Agricultural Credit Guarantee Scheme Fund (ACGSF) from January to October 2020.

As indicated by Vanguard , the CBN said the credit esteems had filled in the previous 10 months to 26,830 advances worth N3.6 billion. The advances in the ACGSF from January to October were :

1,923 advances worth N572.3 million was ensured for domesticated animals ranchers.

531 advances worth N135.5 million for fishery.

5,925 advances worth N541.6 million were ensured for blended cultivating.

16,976 advances worth N1.9 billion for food crops cultivating.

1,942 advances worth N345.5 million for money crops cultivating, while

333 advances worth N69.9 million was ensured for different kinds of cultivating.

About the plan

The Agricultural Credit Guarantee Scheme Fund (ACGSF) was set up by Decree No. 20 of 1977 and started business in April 1978. Its unique offer capital and settled up capital were N100 million and N85.6 million separately. The Federal Government holds 60% and the Central Bank of Nigeria holds 40% of the offers.

The Capital base of the plan was expanded to N3billion in March 2001. The asset ensures credit offices stretched out to ranchers by banks, up to 75% of the sum in default net of any security figured it out.

What you should know

it was accounted for a month ago that the appropriation of advances under the ACGSF declined by 31.62% in 2 years, as per the National Bureau of Statistics (NBS).

The NBS report demonstrated that store dispersion under ACGSF declined by roughly 31.62% from N11.90 million apportioned in 2017 to N8.14 million out of 2019.

The huge decay was additionally recorded both as far as the volume and estimation of advances under the plan in the period under view. For instance, the volume of advances worth N100,000 and underneath declined by 37.14% from 26,825 out of 2017 to 16,862.

it was likewise detailed in September that CBN plans to expand subsidizing in the agrarian area from 4% to 10% of the whole credit in the financial framework.

CBN uncovered that the nation needs to expand its degree of bank credit to the horticultural area by over half inside the following 4 years to support food creation.

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Rage as Fela Kuti is not among the inductees into the Rock and Roll Hall of Fame 2021 class

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Godfather of Afrobeat, Fela Anikulapo Kuti who received the posthumous honour to be among those vying to be inducted into the Rock and Roll Hall of Fame 2021 some few months back, sadly failed to secure a spot despite being top two on the voting polls.

Fela Kuti gets shunned from the inductees despite being top two.

Today, May 12, the committee announced the inductees by means of a 3-minute video through president and CEO, Gregg Harris. Fela was nominated in the Performers Category, amassing a total of 545,000+ votes, making him the second most voted act after Tina Turner (548,000+ votes) but to the surprise of the masses, Fela was not included in the list of inductees.

Shockingly included are performers like rap icon and mogul – JAY-Z and LL Cool J who failed to secure a top five spot on the poll, infact, they were the least voted acts when voting concluded.

Although, quite frankly there is a disclaimer on the website were the poll was conducted, stating that votes do not guarantee induction but for a Top 2 voted act in Fela Anikulapo Kuti, that should not even be the case and Nigerians have taken to Twitter to express their disappointment at the ‘rigging’, ‘clout chasing’ and inconsiderate conduct regarding how the Rock and Roll Hall of Fame committee unjustly treated the voting polls and Fela Kuti.

On what might have transpired regarding the voting stage and selection of inductees, Fela’s first son, Femi Kuti had this to say:

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Video: Mojisola Oduola -Kabiyesi

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At last the long awaited video is out . KABIYESI The unquestionable God.

watch and make sure you subscribe to my YouTube channel. May God bless you as you do so.

This will surely serve as my birthday gift from my love ones.
Click on the link below

CLICK TO DOWNLOAD

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Funny tweets, memes and videos from Twitter NG for “Happy 420”

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Today’s date, April 20, stylised as 4/20 is a day worldwide commemorated by stoners or smokers of weed to celebrate marijuana. In short, it is treated as a public holiday for weed/marijuana and termed—Happy 420.

Twitter NG i.e users of Twitter in Nigeria, as it is the yearly custom are trending “Happy 420” as the number one topic in the country. While many really used the medium to share their unwavering love for weed, others have taken it upon themselves to make funny tweets, memes, skits and share several videos in relation to weed smoking and “Happy 420” as an entity.

While some tweeps take jab at those who don’t smoke weed but indulge in the “woke” culture by wishing stoners a “Happy 420”, others in their own way intentionally misinterpret certain scriptural verses for comedic purpose in order to aid and bait their smoking habits, still others take it upon themselves to disperse various memes which for sure will bring a smile upon your face. That’s not all, though, for we have some tweeps who did brainstorm to form some of the best puns concerning weed and stoners jokes ever. Well we can say irrespective of the way they passed their message regarding “Happy 420”, they all ended on a high note. Enjoy!

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