David Peter | Calabar

Cross River State has cropped up as a beneficiary of the Central Bank of Nigeria, Five (5) Stars Cassava Project, a program focus on cassava farmers with good credit culture under the cassava value chain.

The Senior Manager GOPTS Management and Development Finance Department, Chinedu O. Zephaniah stated that the bank is partnering with stakeholders to achieve massive production of cassava in this ravaging scourge, covid-19. 

Chinedu hinted that, "As you are aware, the Central Bank of Nigeria has continued to monitor the economic impact of the COVID-19 pandemic and deployed some stimulus packages in response". 

He added that, "As part of those measures, the Bank is partnering with stakeholders to achieve massive production of cassava for food security and industrial uses. "It is in this regards that we are developing a framework for financing five (5) hectares each for selected 5 star farmers with Good Credit Culture under the Five Star Cassava Project". 

The Senior Manager, Mr. Zephaniah further clarified the guidelines and authentic beneficiary to be incorporated in the project. He said, "This is for top performing farmers who have been tested and trusted with track record of integrity/loan repayment.  He also stated that, "The projects will be flagged off in the 6 high impact cassava States (Cross River, Delta, Ebonyi, Ekiti, Kogi and Ondo) at the first instance and scaled based on the good performance". The CBN, Dev & Finance Dept., affirmed.

The meeting was held today, 29th day of April 2020, at the CBN Calabar Branch. In attendance were; Dr. Umoren, CBN Dev and Finance Dept, Mr. Chinedu; Senior Manager GOPTS, Chairman, Cassava Grower's Association CRS; Rev. Austine Oqua and; The Founder, African Farming Students Association (AFSA), David Peter amongst other distinguished cassava farmers in Cross river state.

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