Nigeria injects more funds to ACGSF to bolster agricultural value chain financing

NIGERIA – The Federal Government of Nigeria has raised the share capital of the Agricultural Credit Guarantee Scheme to N50bn from N3bn to bolster agricultural chain financing in the country. ACGSF Fund guarantees credit facilities extended to farmers by banks up to 75% of the amount in default net of any security realized. The Fund is managed by the Central Bank of Nigeria, which handles the day-to-day operations of the Scheme. Nigeria’s Central Bank also provides Guidelines that stipulate the eligible enterprises for which guarantees could be issued under the…

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