Cacs Monthly Report For June 2011

I. Applications Received/Processed From State Governments

In the month under review, no State Government accessed CACS fund. A total of twenty-six (26) State Governments are currently participating under the Scheme. The States are Adamawa, Anambra, Bauchi, Enugu, Gombe, Kebbi, Kogi, Imo, Kwara, Nasarawa, Niger, Ondo, Sokoto, Taraba, Zamfara, FCT, Akwa Ibom, Rivers, Plateau, Edo, Kano, Benue, Bayelsa, Ogun, Cross River and Osun.

The State Governments requested the CACS funds for on-lending to farmers' unions and co-operatives and to finance other areas of agricultural interventions within their various States.

The position of State Governments participation as at June, 2011 analyzed by banks is as shown below:

Table 1: Disbursements Under CACS to State Governments
Financing Bank	States Financed	Amount (N'Bn)
	Anambra, Enugu, Sokoto and Plateau and
Fidelity Bank Plc	Cross River	N5.0
Union Bank Plc	Gombe, Kwara, Niger and Bayelsa, FCT*	N4.5
United Bank For	Bauchi, Kogi, Nasarawa, Ondo, Zamfara,
Africa Plc	Akwa Ibom, FCT*, Edo, Kano and Ogun	N9.5
Zenith Bank Plc	Adamawa, Kebbi, Rivers and Taraba	N4.0
Access Bank Plc	Imo	N1.0
Guaranty Trust Bank Plc	Benue	N1.0
First Bank of Nigeria Plc	Osun	N1.0
	Total	26 State Governments	N26.0

Table 1: Disbursements Under CACS to State Governments
Note: (*) - FCT accessed N0.50 billion each from UBA and UBN Plc respectively.

Ii. Participating Banks

As at June, 2011 fourteen (14) 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, Citibank, Diamond Bank Plc and Sterling Bank Plc are participating under the Scheme.

Iii. Actual Release Of Funds To Banks

The breakdown of the sums released by the CBN to all the Deposit Money Banks (DMBs) that have participated under the Scheme since inception, is detailed on Table 2 below:

Table 2: Disbursements Under CACS by Deposit Money Banks (DMBs) Amount released to Financing Bank Projects Banks (N'Bn) 1 Access Bank Nigeria Plc 8 8,776,000,000.00 2 Fidelity Bank Plc 7 6,225,000,000.00 3 First Bank of Nigeria 31 12,850,226,400.00 4 Guaranty Trust Bank Plc 8 5,550,000,000.00 5 Oceanic Bank International Plc 1 2,000,000,000.00 6 Skye Bank Plc 7 10,667,000,000.00 7 Stanbic IBTC 16 7,553,640,000.00 8 Union Bank Plc 18 17,253,000,000.00 9 United Bank for Africa Plc 35 37,462,020,000.00 10 Unity Bank Plc 4 6,000,000,000.00 11 Zenith Bank Plc 10 13,835,000,000.00 12 Citibank 1 1,500,000,000.00 13 Diamond Bank 1 100,000,000.00 14 Sterling Bank 1 1,720,650,226.00 Total 148 131,492,536,626.00

Table 2: Disbursements Under CACS by Deposit Money Banks (DMBs)
Since inception in 2009, the CBN has released the sum of N131.49 billion for disbursement to 148 beneficiaries made up of 122 individuals/private promoters and 26 State Governments that accessed N1.0 billion each.

IV. POSITION OF THE BALANCE OF CACS FUNDS The balance of CACS funds as at June 2011 is N68.507 billion JUNE 28, 2011