Index to Nigerian Newspapers

The Bank of Agriculture (BoA)  said farmers must take insurance on every loan accessed through the bank,  for risk management.For small loan up to N1 million, the borrower will need to provide two guarantors as collateral. While for amounts over N 1 million, the bank will take property security or bank guarantee. According to BoA the money  farmers are taking from the bank are not grants, it is the capital of the bank that is being used to give to farmers to do their business, if they don’t pay back, the bank capital will be eroded and  the bank will start having challenges in meeting her obligation.