Farmers in the north-east have been applauded by the Central Bank of Nigeria for paying the loan granted them under its Anchor Borrowers Programme (ABP).

The Apex bank Director of Development Finance, Mudashiru Olaitan, gave the commendation in Gombe on Wednesday during the flagging off of repayment of loan and handover of farm produce to the Commodity Depot and Exchange Centre (COMDEC) by the North East Commodity Association (NECAS).

The farmers, through NECAS, an umbrella body of farmers in six north-eastern states, were given fertilizer, herbicides and seedlings at the beginning of raining season by the CBN through the Bank of Agriculture, with the bargain to pay back with their farm produce after harvest.

Mr Edwin Nzelu the director said it was the first time an association that benefitted under the anchor borrowers programme gathered people to flag off repayment of loan granted by the CBN.

“I commended the NECAS because it was unprecedented for an association to gathered people to flag-off collection of repayment, not only just repayment, but paying back into the quantity of 40 per cent of what they have taken,” he said.