SEIFAC N15B Loan Update 2021 | First Batch Disbursement Begins
The first batch of the SEIFAC/CBN Anchor Borrowers Programme will soon start getting massive alerts via the SEIFAC ATM credit card, FG Approves N15B SEIFAC fund to begin the loan programme
The government, on Friday, approved the N15N, for the 1st batch of SEIFAC / CBN Smallholder Economic Interest Farmers Agricultural Cooperative (SEIFAC)
According to SEIFAC Director, “SEIFAC/CBN disbursement process is 90% completion, upon completion, applicants with SEIFAC ATM credit card will be credit swiftly
Mr. Patrick Abur, the National Coordinator on Thursday gives full details of the SEIFAC ATM gift card
“SEIFAC Farmers Association along with the connection of Business Administration (PFI) Heritage Limited will launch a gift card to farmers who are planning to collect loans from Seifac under the leadership of Anchor loan program”
“SEIFAC has opened a Wallet Project account for its members to prepare for Anchor Borrowers to produce rice that the largest bank of Nigeria (CBN) has launched it a few years ago”
′′ The ATM card will use two reasons to handle their SEIFAC Project Wallet account and Module Identity”
“The ATM card marked will be carrying SEIFAC label with the name, state, ID of LGA members, etc, before any payment can take place”
“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”
SEIFAC Loan is giving to Beneficiaires 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.