Kano Anti-Graft  Arrests RIFAN Executives over N10Bn Anchor Borrower Loan Fraud

*Map of Kano State, North-west Nigeria, showing some council areas.

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By Segun Ade
Kano Public Complaints and Anti-Corruption  Commission has arrested executives of Rice Farmers Association of Nigeria (RIFAN) over an alleged fraud of about N10bn Central Bank of Nigeria (CBN) Anchor Borrower loan.
The Commission Chairman, Muhuyi Magaji Rimigado, who confirmed this on Thursday, said the arrest of Kano State Branch Chairman of RIFAN, Alhaji Abubakar Haruna Aliyu and Deputy Secretary, Ado Hassan Yakasai.
He said their arrest was sequel to complaints about difficulty in the loan recovery as it was discovered that most of the beneficiaries are fictitious, which makes the recovery of the loan difficult, as presently less than 5% have been recovered.
Muhuyi Magaji Rimigado said the N10bn CBN Anchor Borrowers Scheme loan which was issued in 2018 to farmers in the state was not in cash, but agriculture inputs that include fertilizers, seeds, chemicals and water pumps among others.
The Commission Chairman, said. ‘’Preliminary investigations on the loan recovery has indicated that most of the beneficiaries in the record of Rice Farmers Association of Nigeria are fictitious names, addresses and the phone numbers,’’.
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