Special Latest Update from N12.5Bilion SIEFAC Loan Disbursement

Special Latest Update from N12.5Bilion SIEFAC Loan Disbursement: Applicants of the Smallholder Economic Interest Farmers Agricultural Cooperative (SEIFAC) have been left in the dark about the purported N12.5 Billion disbursement, applicants have been asking a series of questions regarding the authenticity of the SEIFAC program

While many SEIAFC applicants have collected their ATM, and thus waiting endlessly for the disbursement of the FG and CBN-assisted N12.5Billlion fund, the defunct National coordinator of SEIFAC, Mr. Patrick Abur has claimed that disbursement is 90% complete, upon 100% completion, applicants with SEIFAC ATM credit card will be credited swiftly

Though the program has been mired with funding and disbursement issues, sizeable and meaningful progress has been made. The good thing about the SEIFAC program is that it has met CBN Anchor Borrowers Program (ABP) guidelines and expectation

CBN has acknowledged SEIFAC, as one CBN Anchor Borrowers Program (ABP) which is aimed at providing loans (in kind and cash) to smallholder farmers to boost agricultural production, create jobs, and reduce food import bills towards the conservation of the foreign reserve.

Congratulations, SEIFAC has met all the guidelines of the CBN Anchor Borrowers Program, see details

In line with the Federal Government agenda to lift 100M Nigerians out of strict poverty, the CBN Anchor Borrowers Program (ABP) is one of the programs designed by the government to fill in the gap

The CBN Anchor Borrowers Program (ABP) is backed by Section 31 of the CBN Act 2007, which recognized the Anchor Borrowers’ Program (ABP) to create economic linkages between smallholder farmers (SHFs) and reputable companies (anchors) involved in the production and processing of key agricultural commodities.

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The latest news coming from the Chairman of SEIFAC, the loan will be disbursed in a month’s time, and disbursement will commence by October 2022 if everything goes according to plan

The disbursement of funds to members will kick off and last for three weeks, after proper investigations and monitoring of members’ accounts.

Applicants are expected to visit their respective banks for account upgrades, as some members may fail to receive their funds due to the inability of their account to receive huge amounts of money.

Applicants can also visit their state or Local government SEIFAC coordinators to collect their ATM cards, for easy activation

In the main time, SEIFAC has warned all its applicants of the fake alerts and messages scammers and fraudsters are using to defraud applicants of their hard-earned money, you are warned not to give your details to these malicious elements disguise as agent

Applicants should verify information from SEIFAC directly, below are some of the messages you should be aware of, they are not from HERITAGE BANK or SEIFAC, be warned.

Stay with us, we will bring you all the latest disbursement news and happenings

Special Latest Update from N12.5Bilion SIEFAC Loan Disbursement