CBN amends commercial agric credit scheme guidelines

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The Central Bank of Nigeria (CBN) says it has revised the Commercial Agriculture Credit Scheme (CACS) introduced in April 2010.
The amendment is contained in a circular issued by Kelvin Amugo, the Director, Financial Policy and Regulatory Department, CBN, on Tuesday in Lagos.
According to the bank, the scheme is to fast track development of the agricultural sector by providing credit facility to commercial agricultural enterprises at single digit interest.
Besides, it said that the revision of the guidelines was to sustain public interest in the scheme and enhance its operations.
According to the bank, the revision affects Sections 8.0 and 17.0 (b) (IV), …Read More

Source:: New Mail