The Bank of Agriculture (BoA) has disclosed that it has so far disbursed over N1.4 billion in Kogi State since its inception in 1972.BOA’s Managing Director, Kabir Muhammed Adamu, made this known during the inauguration of its branch in Okene, Kogi State capital.
Of the amount, he said N375, 906, 289.72 has been repaid, leaving an outstanding balance of over N1 billion, a development he described as discouraging. Represented by the Executive Director, Retail Banking, Mr. Emmanuel Ameh, he said that prior to the initial closure of the branch, N91, 915, 624.42 was disbursed to members of the community, adding that the repayment has not been encouraging.
Adamu pointed out that with the new beginning, the branch will have 100 percent repayment in subsequent disbursements. He called on those who have benefited from its facilities to repay such facilities extended to them, in order for others to benefit, explaining that without doing this, they will deprive themselves of future relationship with the bank.
The Sole Administrator of Okene Local Government Area, Alhaji Abdulrazaq Mohammed Yusuf, commended the federal government for inaugurating the Okene branch. He said that the bank was brought to Okene to alleviate the suffering of the people, adding that the LG provided farm implements and supplied 600 bags of 50kg NPK fertilizers to farmers in Okene at no charge.
