2015-05-22 | FPR/DIR/CIR/GEN/05/005

Circular to all Banks and Other Financial Institutions: Amendment to Pricing of Commercial Agriculture Credit Scheme (CACS) and Guidelines

The Central Bank of Nigeria (CBN) has revised the guidelines for its Commercial Agriculture Credit Scheme (CACS), which was introduced in April 2010 to promote commercial agricultural enterprises in Nigeria. The revision includes changes to the interest rate structure, with a maximum rate of 9% and a revised fee-sharing formula between participating banks and the CBN. The scheme is funded by a N200 billion three-year bond and aims to enhance national food security, reduce credit costs for farmers, and increase output and employment.

Nigeria

Central Bank of Nigeria

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