CBN – All You Need To Know About The Agricultural Stimulus Grant/Loan From CBN

Agricultural Credit Guarantee Scheme Fund (ACGSF)

This page will provide you with all of the information you require about the Agricultural Credit Guarantee Scheme Fund (ACGSF) and other Central Bank of Nigeria issues.

You can alternatively learn how to complete a different application on this page.

Act No. 20 of 1977 established the ACGSF. You might be interested to hear that these concepts began to operate in April 1978.

The start-up capital and paid-up capital, respectively, were N100 million and N85.6 million at the time. The federal government owns 60% of the stock, while the Nigerian central bank owns 40%. The project’s approved capital had climbed to N3 billion by March 2001.

These funds provide security for the bank’s loans to farmers, guaranteeing up to 75% of the unlawful money.

The Central Bank of Nigeria is in charge of administering these money and overseeing the campaign’s day-to-day operations. The method identifies eligible companies that may offer certifications in accordance with the criteria.

There was an increase in bank financing for agriculture and even bank support for agriculture between 1978 and 1989, when the government introduced lending to banks under this scheme.

The second and third place winners will each receive a certificate as well as a monetary prize of N75,000 and N50,000, respectively.

How to Become a Member of the ACGSF

HOW TO APPLY FOR THE ACGSF SCHEME

The Scheme’s application forms are available at various participating banks’ branches across the country. From the list below, you may download the numerous forms that banks are need to submit in order to operate the Scheme:

1. Application for credit facilities 
2. Application for Guarantee
3. Application for Enhancement
4. Application for Extension
5. Notice of Default
6. Guarantee Claims;

CBN – Agricultural Stimulus Grant/Loan From CBN Voice of Nigeria.