Page 1

THE NATION WllDNFSDAY. OCTOBER 3. 2012

MONEY

55

LI~K

I

.I ! II

I

CBNreviews agric sector financing criteria IE Centl1lll &nlc 01 Nigena (CBN) haslset new rules for lending to Ihe agnrullural secto:r Of the economy The apex bank 1001. thedeCISlon after reports f~om banks and discount holbes Indicaled lhal lending 10: Ihe 5ubSKIor remains a hlghnsl... which should be followed With caution. In a Circular, th~ CBN Said agrtcuhural lending cae· «runts f~approJnmately 14 per cent of formal lending. and h.ls bftn on the dedine "In~ 200tI bec:aUSE'of thr~­ C'elved fl5k of the sector_ this 'iiluallon. It Sllld, was beClUSE' banb ha\'e liml!M undefSIAndlng oi and lack of confiden..~ Ifl the sector To reduce themherent rui. In the l~ve1. the apex bank

1:

!I·Yur

Siories by Collins Nwue

advISed that SOUlg forwllJ"tl. lenders shoufd conduct en"'ironment ilnd social risk lIO.aly~ls .and assessment of a.sric:ultul1lli clients and ae-IIville. before extending loans 10 them. The lendeni. by Ihls rule aTe also u· pected to ensure that Identified risJ..s are IIdequately monilored and mllml ged while adhenng to local environmental aniJ SOCl.aJ laws.. The CBN also wants lenders to be consistent wilh N IRSAl .senda. eMunng thai, they flnance the manufaclure and distribution 01 improved and high ~s; lendmg 10 mdlsenous seed compilnies and Imporlen; of seed vuiehes and ensuring that fanners arE' ahle 10 pro-

C\.In seed~ directl}' from

II2-D·1 I-Yur

DNMEYER INTBREW

DANDO Gu.xos.IdlTH LlVESTOCX VlTARlAM

ADCD

i

"'.

The blinking wat("hdo~ [!Iud If the a;;ncuL:ura growlh targets sel b ... the FedE'rlll Governmeni liTe met. Ihe countr.. will have 9.5 J:r cent IInnual gro""'th

(GDI) f,fO'.vih In

I"..

fie" HI yean..

Tht' principles will equally posiltOfl ilgricuhure as an aUnctlve. rewarding and sustamable business 0pportunity gl\'en the largt" proportion of lhe popubltion thai depends on agriculture as II sourt't' of 11\·ellhood ... It IS dear wt agriculture IS a pl1llctlatl mt:anS 01 reducing pO\-erl\', unemplQvment,

,...

461m

9.62 12.34

1.16

0.10

14.00

'.02

.Jl6 1298 11.60

1218

36.00

37.$)

• .61 3Jl6 3.<5 2.2l 1.15

• .69 3.21 3.61 2.31 1.20

'.80 0.16 0.10 0.05

9.88 2.42

0.49 0.11

1.86 1.95

0119 0.09

o.n

0.79 3.20 0.57

41.

0.03 0.03

0.12 D.02

CUrnnl Afl U

..

em .....

"

2124'197

207,9023

209.2910

-I.jl

149.7450

1540000

IH 3000

-1.0-'

a_do ,SIN)

I.n.oooo

153.0000

155..5000

·2.30

Panlld Marte.!

(5).0000

154,0000

1.56.0000

.1.%

0.58 0.'" 0.15

Cll rrelll BrIon

2]9.'1

NI NA BANK (SIN) ,SIll) 14-04-201"!

~IJIrt, ' "Offer ,

D

NON EUll

!'eMR

food Insecuruy. whilst provllilng r&W mall'nals IIlr Illduslnefo and e>:port III the medIUm to long term,~ il

:!"en~=1 ~k:"vt- ~tGr~t~=h~I~~

The apex b.mk Silld it is collaboraung wuh loc:a.I banks lor the InSlllutlon of prtnclples thai Will IlSSISt them 10 Ihe Idt!nuflcaunn and management of complex enVironment .and SOCIal risks

NON

MANSARD

sector It IS abo meant t~ provide addilllJnat Sfitorjspeohc gUidaoci" to supplemenl the NigeTlan Sustainable Bank· ing Pflnciples GuidancE' Note and ensure tl}al banks adopt rell!\'ant mlemahooal standards and bt-sl ~raclJces

,....

C.rrlUlC:1

ARBICO ETERNA RTBR15COE

to the agri("ullure

I'rlu

111111.1

NEIMETH

SE'rvlce~

35m 35m

S-Yur

CUT1X

aSSOC1ated wilh the pTOvi5IOfloi financial productsand

seed

manufacturers by aVlliling tht!m adE'<j:U8le credit. Also. With support from industr}' slakeholders. banks are to establish agricultural value chitin research developmenl fund that produces high quality researm on Ihe needs of the sector Lenders lire also 10 encour.ge and financ:e providers of $torllge facilities for seeds, produce and other value-idded products pro\'lded WI they take JAto co.mderIlion energv effiCIency IS--

MI'K

"""".....

I " " Liqwdlly RallO Casb RellUll Ru~

Tellor

Feb. ' II

Jld) ' II

UO"

6.50'10

.......

s-tina r..--. ~

I

--.11

-

.......

0,",

4 .50..

ll.oo'l>

2S,00"

.

2.00..

July ' 11

U .. 9.500.

'5'"

,.....

lO.OO'l\

CiUAR~ STAN8I~TC

QU Il.ANTE AFRINV W...... IIQUln' FUND LOTUS <tAPITAlj HAUjL BGL SAl'PfliRE FUND BOL NUBIAN Fl.ND NIOERIA INTER "All0f'olAL DEB. PARAMOUNT EQUITY FUf'oID CONTINENTAL UNIT TRUST CENTRE-POltoIT UNrr TRUST STANBIq"IBTC NlO EQUITY nlE DlSCOVER~' FUND • AfUlt AOOIiESSrvE • KAKAWA CilJARAtrrEEO

Monll:llOlll Prerlou

Buk P/Colln

1.00

12·U6 116.90 0.74 1.10 0,91 1.71362 9.94 1.33 1.10

THE NATION, 03 OCTOBER, 2012  

CBN reviews agric sector financing criteria