Chief Executive Officer of the Bank of Agriculture (BOA), Ayo Sotinrin, has said the federal government would soon release N1.5 trillion recapitalisation fund for the bank.
He also said the bank would go after those indebted to the bank which amounts to over N20 billion. Sotinrin, divulged this at the National Young People’s Dialogue on Inclusive Food Systems, organised by ActionAid Nigeria in collaboration with the Senate Committee on Agriculture and Rural Development and supported by GIZ Sustainable Agricultural Systems and Policies (AgSys) yesterday in Abuja.
He said aside raising international capital, the bank would provide support for at least 70 million farmers to boost food production.
He said: “The recapitalisation fund is N1.5 trillion. We also intend to raise the international capital so that we can cover a lot of value chains within the sector.
“BOA does not engage in largesse. We are not a political association or movement; we are a bank, even though it is owned by the government. We are beginning an ‘operation recover loan’, to appeal to those who owe the bank to bring our money back.”
