1.0 Activities Of The N200 Billion Commercial Agriculture Credit Scheme For The Month Of December 2011

1.1 State Government'S Patronage - Applications Received/ Processed

During the period Delta State Government accessed CACS fund. The number of State Governments participating in the Scheme therefore stands at twenty seven (27). These State Governments accessed funds for on-lending to farmers' unions, co-operatives and financing of other areas of agricultural interventions in their various States. Projects Monitoring exercise in the States were conducted during the year. Analysis of the position of State Governments participation as at December, 2011 since inception in 2009 is shown below on figure 1 and table 1:

Figure 1: Number of State Governments Financed under CACS by Regions
4 (14.81%)
7 (25.93%)
3 (11.11%)
4 (14.81%)
3 (11.11%)
6 (22.22%)
Table 1: Disbursements Under CACS to State Governments

Financing Bank		States Financed	Amount (N'Bn)
1	Anambra, Enugu, Sokoto, Plateau,
Fidelity Bank Plc	Cross River	N5.0
2	Gombe, Kwara and Niger, Bayelsa,
Union Bank Plc	FCT	N4.016
3	United Bank For Africa Plc	Bauchi, Kogi, Nasarawa, Ondo, Zamfara, Akwa Ibom, Edo, Ogun and Kano	N9.0
4	Adamawa, Kebbi, Rivers, Taraba &
Zenith Bank Plc	Delta	N5.0
5	Access Bank Plc	Imo	N1.0
6	Guaranty Trust Bank Plc	Benue	N1.0
7	First bank Plc	Osun	N1.0
Total: 6 Banks	27 State Governments	N26.016

Note: (*) - FCT accessed only N0.016billion following the withdrawal of N984 million from UBA and UBN Plc due to non-release of CACS fund to the FCT Administration by the 2 Banks.

2.0 Actual Releases Of Funds By The Cbn To Banks

During the period under review (December 2011), the sum of N14.00 billion was released to 9 banks with respect to 14 CACS projects bringing total releases by the CBN since inception in 2009 to N151.016 billion.

	Name of Bank	Number of Projects	Amount Released (N'billion)
1	Zenith Bank	3	3.0
2	Unity	3	5.6
3	Fidelity	2	1.35
4	Oceanic	1	0.15
5	Diamond	1	0.8

Table 2: Performance of Deposit Money Banks (DMBs) in Nigeria under the Commercial Agriculture Credit Scheme (CACS) December 2011

6	FBN	1	0.2
7	Access	1	2.0
8	Stanbic IBTC	1	0.775
9	Sterling	1	0.125
	Total	14	14.00

From inception to date sixteen (16) banks, namely, Access Bank Plc, Fidelity Bank, First Bank of Nigeria, Guaranty Trust Bank, Oceanic Bank Plc, Skye Bank, Stanbic IBTC, Union Bank of Nigeria, United Bank for Africa, Unity Bank Plc, Zenith Bank Plc, Diamond Bank Plc, Sterling, Citibank, Wema and Mainstream Bank participated under the Scheme.

	Amount released to
	Financing Bank	Projects	Banks (N'Bn)
1	Access Bank Nigeria Plc	10	9.926
2	Fidelity Bank Plc	8	7.575
3	First Bank of Nigeria	48	16.225
4	Guaranty Trust Bank Plc	8	5.55
	Oceanic Bank International	2.62
5	Plc	4
6	Skye Bank Plc	6	8.667
7	Stanbic IBTC	20	9.251
8	Union Bank Plc	18	14.859
9	United Bank for Africa Plc	34	38.412
10	Unity Bank Plc	8	12.295
11	Zenith Bank Plc	13	18.535
12	Citibank	1	1.5
13	Diamond Bank	5	0.999
14	Sterling Bank	4	2.446
15	Mainstreet Bank(AfriBank)	1	2
16	Wema Bank	2	0.155
	Total	190	151.015

The breakdown since inception of the sums released by the CBN to all the deposit money banks (DMBs) that have participated under the Scheme is detailed on Table 3 below:

Table 3: Disbursements Under CACS by Deposit Money Banks (DMBs)
Since inception in 2009, the CBN has released the sum of N151.015 billion for disbursement to 190 beneficiaries made up of 163 private promoters and 27 State Governments that accessed N1.0 billion each (apart from FCT which accessed N16.0 million only).

Figure 2: Lending by Deposit Money Banks (DMBs) under the Commercial Agriculture Credit Scheme (CACS) by Number of Projects - As at December, 2011

50 40 30 20 10 0 GTB
UBA
Skye Sterling Wema Citibank Access Fidelity Stanbic Unity Zenith irst Banl Oceanic liamono nion Banl ainstree

Figure 3: Banks' Lending Under The Commercial Agriculture Credit Scheme (Cacs) In N' Billions As At December, 2011

3.0 Bank'S Performance Under Cacs Since Inception

Presented on table 3 below, is the summary of the activities of banks in Nigeria under the Scheme since inception:

Table 4: Performance of Deposit Money Banks (DMBs) in Nigeria under the Commercial Agriculture Credit Scheme (CACS) Since Inception in 2009

Applications	Approved
Received	Pojects	Disbursements
Priv		Private	States
Financing Bank	ate	States	Private	States	(N'Bn)	(N'Bn)
1	United Bank For Africa Plc	98	18	25	9	29.412	9
2	First Bank of Nigeria Plc	215	4	47	1	15.225	1
3	Skye Bank Plc	7	0	6	0	8.667	0
4	Ecobank Nigeria Plc	0	0	0	0	0	0
5	Equitorial Trust Bank Plc	0	0	0	0	0	0
6	Fidelity Bank Plc	2	5	3	5	2.575	5
7	First City Monument Bank Plc	3	0	0	0	0	0
8	First Inland Bank Plc	0	0	0	0	0	0
9	Guaranty Trust Bank Plc	7	0	7	1	4.55	1
10	Intercontinental Bank plc	0	0	0	0	0	0
11	Citi Bank (NIB Plc)	1	0	1	0	1.5	0
12	Oceanic Bank International	3	0	4	0	2.62	0

Nigeria Plc
13	Platinum Habib Bank Plc	0	0	0	0	0	0
14	Diamond Bank Nigeria Plc	4	0	5	0	0.999	0
15	Spring Bank Plc	0	0	0	0	0	0
16	Stanbic - IBTC Bank Plc	20	0	20	0	9.215	0
Standard Chartered Bank
17	Nigeria Plc	0	0	0	0	0	0
18	Sterling Bank Plc	3	0	4	0	2.446	0
19	Union Bank Plc	15	4	13	5	10.843	4.016
20	Access Bank Nigeria Plc	8	1	9	1	8.926	1
21	Unity Bank Plc	7	0	8	0	12.295	0
22	Wema Bank Plc	2	0	2	0	0.155	0
23	Zenith Bank Plc	8	4	8	5	13.535	5
24	Main stream	1	0	1	0	2	0
Total	401	36	163	27	124.96	26.016

4.0 Withdrawal Of Funds

The sum of N984 million (for FCT) was withdrawn from two (2) deposit money banks in December 2011 due to contravention of the scheme Guidelines. The details of the withdrawals are stated below:
UBA Plc N484.0 million UBN Plc N500.0 million

5.0 Cacs Performance By Value Chain Distribution

The analysis of number of projects financed under CACS by value chain showed that out of the 163 CACS private sector sponsored projects, production accounted for 44% and dominated the activities funded while processing accounted for 41.1%. These activities were distantly followed by marketing and storage which registered 8% and 6.75% respectively. With regards to the value of funds released, processing accounted for 55.6% followed by production which accounted for 29.1% of the value of enterprises financed. These were followed by marketing and storage which registered 10.4% and 4.9% respectively (table 5, figure 4).

Category	Number (%) of Projects	Value {N'billions and %}
Production	72 (44%)	37.0 {29.1%}
Processing	67 (41.1%)	69.53 {55.6%}
Marketing	13 (8.0%)	12.0 {10.4%}
Storage	11 (6.75%)	6.22 {4.9%}
Total	163	124.75

Table 5: Analysis of CACS Financed Projects by Value Chain
Figure 4: Banks' Disbursements by Number of Projects under the Commercial
Agriculture Credit Scheme (CACS) As at December, 2011 based on Value Chain Distribution

6.0 Position Of The Balance Of Cacs Funds

The balance of CACS funds as at December 2011 is N48.984 billion DEVELOPMENT FINANCE DEPARTMENT CENTRAL BANK OF NIGERIA ABUJA December 20, 2011