2011-11-10 | CACS 10-2011

ACTIVITIES OF THE N200 BILLION COMMERCIAL AGRICULTURAL SCHEMES (CACS) FOR THE MONTH OF 0CTOBER 2011

The Nigerian Central Bank's Development Finance Department reported that as of October 2011, the balance of Commercial Agriculture Credit Scheme (CACS) funds stood at N62.67 billion. A total of 399 projects across 25 Deposit Money Banks (DMBs) had been approved for financing since inception in 2009. The largest number of approvals and disbursements were made by Union Bank Plc, with 15 projects receiving N10.843 billion and United Bank for Africa Plc, with 17 projects receiving N12.053 billion. Processing activities received the most funding at 55.50%, followed by production at 32.0%. The report also highlighted that no funds were withdrawn from banks during October 2011 due to contravention of CACS's guidelines.

Nigeria

Central Bank of Nigeria

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