SEIFAC N12.5B Loan Program 2022/22: 5 Facts Steering At Beneficiaries

SEIFAC/CBN N12.5B Program 2022/22: 5 Facts Steering At Beneficiaries

The Smallholder Economic Interest Farmers Agricultural Cooperative (SEIFAC) is a Federal Government program, initiated to give farmers grants and loans to cultivate crops that are of economic importance to the nation

See CBN Empowerment Program 2021/2022 | NEXIT Loan & Training Update

Since the program came on board, it has been mired with funding and disbursement issues, till date sizeable numbers of beneficiaries have not been given the said grants or loan

SEIFAC N12.5B Loan Program 2021/22: 5 Facts Steering At Beneficiaries

While the government has approved large sums to cater and sponsor the SEIFAC program, little has been felt from the side of beneficiaries who are the major target of the program

The program seeks to install, entrepreneurship, empowerment, productivity in lifting the vast majority of young minds interested in agriculture, thus providing food security in the country

See Conditional Cash Transfer (RRR) Grant 2022: CBN Disbursement Update

Since the formal Minister of Agriculture was sacked, the program has suffered delay and policy implementation to drive home its agenda to thousands of beneficiaries,

But things have changed, the current Agric Minister has commenced action and beneficiaries are to see changes soonest. Facts coming in suggest that the program will start swiftly.

This post is intended to guide SEIFAC beneficiaries on the latest happenings surrounding the program, and it is by no means, a news outlet from any of the mainstream media.

ATM (Gift Card) Distribution

In no distant time, SEIFAC beneficiaries will start getting their ATM gift card, this ATM card will be used to withdraw funds disbursed in their account, Mr. Patrick Abur, the National Coordinator of SEIFAC affirmed this

Though no specific time frame was given, it will not clock 2022 as funds are already stashed in various banks of SEIFAC beneficiaries

The ATM card has two major functions

It will handle SEIFAC Project Wallet account

Module Identity of all SEIFAC beneficiaries will be strictly monitored, as the program is of paramount importance to food security in the country

See FG Transport Subsidy Grant 2022/2023 (50k-N120k) For 12 Months-Apply

The ATM card marked will be carrying SEIFAC label with the name, state, ID of LGA members, etc, before any payment can take place”

SEIFAC beneficiaries must understand that the chip in this card is very cumbersome to implement, there are many issues that have been resolved to get to this card

N12.5Billion Fund Disbursement is 90% Complete

According to SEIFAC Director, “SEIFAC/CBN disbursement process is 90% completion,

upon completion, applicants with SEIFAC ATM credit cards will be credited swiftly

SEIFAC Farmers Association along with the connection of Business Administration (PFI) Heritage Limited, under the leadership of the Anchor loan program has received funds to commence disbursement without any delay

In what appeared to be “the last straw to break the camel’s back” before fund disbursement begins, all SEIFAC beneficiaries must get their ATM card before accessing the fund

President Buhari Commitment To SEIFAC Program

The president is a lover of agriculture, the above funds have been released and all he wants is open and fair disbursement, not only is he committed to giving Nigerians surplus food supplies through the SEIFAC/CBN program, but to creating an enabling environment for jobs and wealth creation

See funds released for SEIFAC program

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You Can also register for the program here  

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