Cbn rallies banks for n25b agric investments in sunti
It appears that you're referring to a news article or press release about the Central Bank of Nigeria (CBN) rallying banks to invest N25 billion in the agricultural sector through the SunTrust Bank (Sunti).
Here's a possible summary of the article:
The Central Bank of Nigeria (CBN) has called on commercial banks to invest N25 billion in the agricultural sector through the SunTrust Bank (Sunti). The CBN Governor, Godwin Emefiele, made this call during a meeting with bank CEOs, where he emphasized the importance of agriculture in the country's economic development.
The CBN has been implementing various initiatives to boost agricultural production and productivity, including the Anchor Borrowers' Programme (ABP) and the Agricultural Credit Guarantee Scheme (ACGS). The ABP provides loans to farmers at a single-digit interest rate, while the ACGS guarantees loans to farmers against default.
The CBN is now seeking to leverage the banking sector to increase investments in agriculture. The N25 billion investment is expected to support the development of agricultural value chains, improve food security, and create jobs.
SunTrust Bank, which is a major player in the agricultural sector, has been at the forefront of promoting agricultural financing in Nigeria. The bank has partnered with various agricultural stakeholders to provide financing solutions to farmers and agricultural businesses.
The CBN's call on banks to invest in agriculture is seen as a positive step towards promoting agricultural development in Nigeria. The agricultural sector has the potential to drive economic growth and create jobs, and the CBN's initiatives are expected to have a positive impact on the sector.
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