NIRSAL says Credit Risk Guarantee is available for farmers and investors in the agribusiness value-chain

The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL Plc.) has assured Nigerian farmers of total inclusiveness in the Credit Risk Guarantee (CRG) aimed at improving the sector.

Speaking through its official twitter handle, NIRSAL said those involved in farming activities such as Cocoa will all have access to the Credit Risk Guarantee (CRG) programme.[irp posts=”320″ name=”Easiest way to repay COVID-19 LOAN and collect another loan from NIRSAL Microfinance Bank”]

That bank’s management revealed that, all individuals, farming groups and Businesses that are involved in the processing and farming activities will all have access to the CRG.

Newsway earlier reports that, NIRSAL engaged stakeholders and farmers to collect feedback on its Anchor Borrower Programme (ABP), Agri-Small and Medium Enterprise Investment Scheme (AGSMEIS) and see how it can possibly improve.

The management said:

“The NIRSAL Credit Risk Guarantee (CRG) is accessible to farmer groups and agribusinesses across all segments of the Agric value chain.

In Osun State, we sensitized fertilizer manufacturers, suppliers, and Agro Dealers on the benefits of the NIRSAL CRG.”

No comment has been received as at the time of filling this report.[irp posts=”284″ name=”CBN disbursed N368.79 billion to 648,052 Households and 130,000 SMEs through NIRSAL”]

The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL Plc.) is a US$500million Non-Bank Financial Institution wholly-owned by the Central Bank of Nigeria (CBN) created to Redefine, Dimension, Measure, Re-Price and Share agribusiness-related credit risks in Nigeria.

Established in collaboration with the Federal Ministry of Agriculture and Rural Development (FMARD) and Nigerian Bankers’ Committee in 2013, NIRSAL’s mandate is to stimulate the flow of affordable finance and investments into the agricultural sector by de-risking the agriculture & agribusiness finance value chain, fixing agricultural value chains, building long-term capacity, and institutionalizing incentives for agricultural lending through its five (5) strategic pillars, namely: Risk Sharing, Insurance, Technical Assistance, Incentives and Rating.

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