2021 SEIFAC Loan/Grant Update: CBN To Disburse N12.5B Next Week
2021 SEIFAC Loan/Grant Update: CBN To Disburse N12.5B Next Week: All is set to commence massive funds disbursement to the Smallholder Economic Interest Farmers Agricultural Cooperative (SEIFAC) – a cooperative of Smallholder Farmers by Smallholder Farmers for Smallholder Farmers of Nigeria.
The CBN, a pioneer to the Smallholder Economic Interest Farmers Agricultural Cooperative will be disbursing funds up to 12.5 Billion naira next week, the office of the accountant general of the federation confirmed this
“A true cooperative society committed to fostering cooperative movement in the country. Emerging as a dynamic organization, focusing on strategic strengths, seizing opportunities for generating and building upon past success, enhancing earnings to maximize the shareholders’ value”
SEIFAC is aimed at helping”
- a multi-crops producer processor
- marketing Smallholder Economic Interest Farmers Agricultural Cooperative
- connects Smallholder Farmers that cultivates: these nine (9) crops namely Rice, Maize, Sesame, Cassava, Yam, Groundnuts, Bambaranuts, Sorghum and Soybean in the States of the Federation and FCT Abuja, to farm in clusters and to leverage on the collective internal economies of scale of cluster dynamics in order to lift themselves out of avoidable poverty”
Already SEIFAC Beneficiaries have opened a bank account and provided with an active debit card for funds utilization. When Disbursed, SEIFAC Loan/Grant will be Used to:
Foster a culture of trust, openness, and mutual concern to make working, a stimulating and challenging experience for stakeholders.
Building a value-driven organization with an improved and responsive customer focus. A true commitment to transparency, accountability, and integrity in principle and practice.
To acquire, assimilate and adopt reliable, efficient, and cost-effective technologies.
Sourcing quality planting materials for the production of produce at economical cost by entering into Joint Ventures within Nigeria and outside Africa and the wide world.
To ensure growth in core and non-core sectors.
To provide to farmers high-quality fertilizers at the right time and in adequate quantities to increase crop productivity.
To make plants energy efficient and continually review various schemes to conserve energy.
Commitment to health, safety, environment and forestry development to enrich the quality of community life.
Commitment to social responsibilities for a strong social fabric.
To institutionalize core values and create a culture of team building, empowerment and innovation which would help in the incremental growth of employees and enable achievement of strategic objectives
ELIGIBILITY AND REQUIREMENT
The loan shall be targeted at smallholder farmers engaged in the production of identified commodities across the country.
Legumes (Soybean, Sesame seed, Cowpea etc.);
Livestock (Fish, Poultry, Ruminants etc.);
And any other commodity that will be introduced by the CBN from time to time.
Cereals (Rice, Maize, Wheat etc.);
Roots and Tubers (Cassava, Potatoes, Yam, Ginger etc.);
Tree crops (Oil palm, Cocoa, Rubber etc.);
The Farmers should be in groups/cooperative(s) of between 5 and 20 for ease of administration.