The Central Bank of Nigeria (CBN) says it has given out N189.4 billion out of the N200 billion earmarked for Commercial Agriculture Scheme as at May 21.
In a report by CBN’s Development Finance Department, the bank said that N10.604 billion was outstanding.
The bank said that three more commercial banks participated in the scheme in May.
It listed the banks as Keystone Bank, Enterprise Bank and First City Monument Bank..
It said that the participation of these banks brought to 19 the number of banks particpating in the scheme..
The News Agency of Nigerian (NAN) reports that the fund is being given out at zero interest rate.
The scheme also allows state governments to access the funds for on-lending to farmer cooperative societies.
The disbursement of the fund started in April, 2009.(NAN)