CBN CARRIES OUT DIAGNOSTIC ASSESSMENT OF BOARBI

CBN CARRIES OUT DIAGNOSTIC ASSESSMENT OF BOARBI

The Central Bank of Nigeria (CBN) has embarked on the diagnostic assessment of the Bank of Agriculture Rural Business Initiative (BoARBI) in the three (3) pilot locations at Bauchi in Bauchi State, Igbora in Oyo State and Oko in Anambra State.

The aim of the assessment is to determine the extent of conformity with rural business development objectives of the CBN such as expanding financial inclusion to ruralites in the rural areas.

The uniqueness of BoARBI derive from the principle of lending to the poor whose credit need averages Thirty thousand Naira (N30,000) through financially and operationally self-sustaining Centres.

 


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Key Facts
Loan Rate
  • . Microcredit Agric & collaborations
  • . SME (Production & Working Capital)
  • . Marketing, On-lending to MFBs & Microcredit (Non-Agric)
Loan Condition
  • 20% Lien Deposits
  • 6 months Minimum Customer's Account Relationship
Deposit
  • . Interest Rate
  • Negotiable Fixed Deposit

Branch Location