Regulatory Alerts2011-11-10 | CACS 09-2011REPORT ON THE ACTIVITIES OF THE N200 BILLION COMMERCIAL AGRICULTURAL SCHEMES (CACS) FOR THE MONTH OF SEPTEMBER, 2011
The report from the Central Bank of Nigeria (CBN) Development Finance Department provides an overview of the Commercial Agriculture Credit Scheme's (CACS) performance from inception to September 2011. As of this date, N54.97 billion had been disbursed for 180 projects across various geopolitical zones. The largest number of projects and funds were disbursed in the South-West (69 projects valued at N58.08 billion) and North-West regions (26 projects valued at N17.302 billion). Key highlights include: 1. A total of 180 projects had been financed as at September 2011. 2. The majority of the funds (N54.97 billion) were disbursed for these projects, with N63.253 billion remaining in the scheme's coffers. 3. Bank disbursements were led by Zenith Bank, Guaranty Trust Bank, and Access Bank. 4. The agro-allied sector received the highest funding (N20.81 billion), followed by the livestock and poultry sectors. 5. Loan defaults accounted for 2.9% of total disbursements, with no defaults in projects funded through Islamic financing principles. 6. The processing category received the most funding within the value chain distribution (N60.32 billion).