BVN Registration of Farmers Under CBN Anchor Borrowers Programme (ABP)

BANKING AND PAYMENTS SYSTEM DEPARTMENT CENTRAL BANK OF NIGERIA Central Business District P.M.B. 0187, Garki, Abuja.

+234 - 0946238445 REF: BPS/DPD/GEN/CIR/01/001 July 20, 2016 To: All Deposit Money Banks (DMBs) BVN REGISTRATION OF FARMERS UNDER THE CBN ANCHOR BORROWERS PROGRAMME (ABP) The Central Bank of Nigeria, in collaboration with the Bankers' Committee, launched the Bank Verification Number (BVN) project on 14th February, 2014, as a unique identifier, and to strengthen the Know-Your-Customer requirements across the banking industry.

Also, the Central Bank of Nigeria, as part of its development functions has, through various Credit Enhancement Programmes, and in furtherance of its drive for Financial Inclusion, supported the Agricultural Sector and the SMEs. One of the tools for driving this strategy is the "Tiered Know-Your-Customer" requirement.

The Bank, in November 17, 2015, flagged off the CBN Anchor Borrowers Programme (ABP). This programme is aimed at giving loans to farmers at a single digit interest rate. The programme, it is believed, will boost employment in the country and lift thousands of small farmers out of poverty. One of the requirements for accessing this loan is the BVN registration of the farmers.

In view of this, you are required to make all your branches available as BVN registration centres. Kindly note that a farmer can enroll for the BVN at any bank branch, including the nearest Central Bank of Nigeria Branch.

Please be guided and ensure strict compliance.

Director, Banking and Payments System Department