The Central Bank of Nigeria (CBN) has rewarded two farmers in Anambra State, Miracle Onwuesi and Akam Chukwuemenam, for their outstanding performances in its Agricultural Credit Guarantee Scheme Fund (ACGSF) in 2021.
The CBN also rewarded LAPO Microfinance Bank, Aguleri in Anambra East Local Government Area of the state for emerging best participating financial institution in the state during the year under review.
While Onwuesi was named the best farmer, Akam was announced as second best farmer for the year. The former was presented with a plaque, a certificate and a cash award of N100,000 but the latter was given a certificate and N75,000 cash reward.
CBN’s Branch Controller in Awka, Mr Benedict Maduagwu, explained that the ACGSF was established by the Federal Government in 1977 as one of the key strategies to boost food production in the country.
He said that the operations of the scheme commenced in April 1978 with initial share capital and paid-up capital pegged at N100 million and N85.6 million respectively.
Maduagwu said that in 2019, the ACGSF Act was amended and new strategies introduced and were aimed at repackaging and repositioning the scheme for greater effectiveness and efficiency. “In 2020, the board of the ACGSF re-introduced the ACGSF Best Farmers’ Award in the various states and the Federal Capital Territory, Abuja to recognise outstanding farmers that participated under the scheme