Regulatory Alerts2012-02-16 | CACS 12-2011Activities of the =N=200bn Commercial Agriculture Credit Scheme (CACS) for December 2011
The report provides information on the Commercial Agriculture Credit Scheme (CACS) in Nigeria as of December 2011. Key highlights include: - Total number of private sector sponsored projects: 401 - Cumulative disbursements to the beneficiaries: N98.634 billion - Number and value of projects financed by value chain distribution: 163 projects, with production accounting for 44% and processing at 41.1%. - Banks that participated in CACS: 24 banks, with Access Bank Plc leading the disbursements with N20 billion. - Balance of CACS funds as at December 2011: N48.984 billion. The report also notes that a withdrawal of N984 million was made due to contravention of scheme guidelines. This was split between UBA Plc and UBN Plc, with each bank receiving N484 million and N500 million respectively.