Development Finance

Agricultural Credit

Agric. Credit Guarantee Scheme Fund | Agric. Credit Support Scheme
Claims Settlement Activities

Claims Settlement Activities

Default Claims | Interest Draw Back Claims

Interest Drawback
Instituted in year 2004 as a palliative measure for beneficiaries of agricultural loans under ACGSF who are able to repay their loans according to contractual terms, the programme is one of the products initiated by the CBN to encourage financial institutions to participate under the scheme.

The programme, guarantees the payment of 40% as rebate to farmers on the interest component of all loans repaid as at when due, thus reducing the effective borrowing rate for the farmers. Since its inception, it has been able to reach a number of clients as shown in the tables below.

Table 1: IDP Claims Settlement On Yearly Basis

Year	Applications Received	No. of Claims Paid	Amount Paid	Claiming Banks’ Branches
2004	774	774	4,552,029.78	3
2005	14,020	14,020	41,852,804.02	27
Total				30

Table 11: Detailed IDP Settlement (2006 - 2008)

DATE	STATE		BANK	BRANCH	NUMBER	AMOUNT
JAN.2006	KATSINA		FBN	Malumfashi	377	438,718.28
	KATSINA		BON	Katsina	28	114,955.74
	IMO		UBN	Owerri	94	328,586.00
				Uburu Ohao	73	199,760.00
				Aba Market	14	38,664.68
	OYO		CO-OP	Jericho	1	38,184.91
TOTAL					587	1,158,869.61
FEB, 2006		ENUGU	UBN	Garden Ave	149	837,823.28
				Ajalli	55	34,410.00
				Ajalli	33	43,920.00
				9th Mile Ngwo	1	659,935.20
				Emene	1	10,306.80
		IMO	UBN	Uburu Ohao	77	159,167.20
			ULI CB	Uli	2	39,143.56
			UVURU CB	Uvuru	1	13,300.00
		NIGER	UBN	Bida	1	37,478.40
		FCT ABJA	UBN	Wuse Ii	1	152,000.00
TOTAL					321	1,987,484.44
MAR.2006		KANO	UBN	Sharada	92	146,656.11
				Zoo Rd	19	29,721.15
				Hadejia	192	382,596.72
				Hadejia	638	1,338,390.68
			FBN	Kano Main	6	29,173.42
		KWARA	BON	Ilorin Main	272	301,942.37
		C/RIVER	UBN	Cftz	35	242,766.10
		PLATAEU	UBN	Awe	433	1,482,000.00
				Langtang	114	424,080.00
				Panyam	182	845,728.00
				Bank Street	52	193,800.00
		OGUN	ILISAN CB	Ilisan	2	40,724.00
			UBN	Abeokuta	117	760,876.00
			UBN	Ijebu Ode	78	335,976.40

MAR.2006	KANO	UBN		Sharada	92	146,656.11
				Zoo Rd	19	29,721.15
				Hadejia	192	382,596.72
				Hadejia	638	1,338,390.68
		FBN		Kano Main	6	29,173.42
	KWARA	BON		Ilorin Main	272	301,942.37
	C/RIVER	UBN		Cftz	35	242,766.10
	PLATAEU	UBN		Awe	433	1,482,000.00
				Langtang	114	424,080.00
				Panyam	182	845,728.00
				Bank Street	52	193,800.00
	OGUN	ILISAN CB		Ilisan	2	40,724.00
		UBN		Abeokuta	117	760,876.00
		UBN		Ijebu Ode	78	335,976.40
	KWARA	UBN		Bacita	12	27,933.60
		UBN		M/M Way	19	39,828.00
		BON		Ilorin Main	75	51,571.17
	EDO	UBN		Ibusa	37	181,192.00
	BORNO	BON		Monday Mkt	10	5,342.70
	KANO	FBN		Doguwa	595	702,629.29
				Airport Rd	1	3,570.26
				Fagge Kudu	1	3,390.69
				Hadejia	255	502,149.45
		BON		Chiromawa	262	439,658.14
	ADAMAWA	UBN		Ibi	170	510,718.80
				Demsa	43	334,854.98
				Jalingo	120	814,950.96
	A/IBOM	UBN		Ikot Ekpene	70	484,491.20
TOTAL					3,902	10,656,712.19
MAY 2006	KWARA		UBN	Unilorin	67	198,381.84
				Omu Aran	359	442,178.53
				Patigi	356	1,019,778.63
				Offa	505	471,389.99
	LAGOS		UBN	Allen Ave.	52	475,000.00
	LAGOS		UBN	Isolo	29	304,000.00
	A/IBOM		UBN	Eket	16	68,921.60
	A/IBOM		UBN	Ette	67	258,704.00
	C/RIVER		AKPARABONG CB	Ikom	2	36,418.63
	C/RIVER		ISHIBORI CB	Ogoja	3	7,200.00
	ENUGU		ORAUKWU CB	Oraukwu	1	22,178.00
			FBN	Ezzamgbo	3	10,547.59
			FBN	Ikem	10	4,597.66
			UBN	Oko	8	65,691.60
			UBN	Abakaliki	88	440,315.20
	EDO		UDA CB	Uda	4	37,412.94
			UBN	Ekpoma	2	38,921.60
			UBN	Iguobazuwa	29	84,130.00
	KATSINA		INTERCITY BANK	Katsina	10	12,822.84

TOTAL				1611	3,998,590.65
JUL.2006	KATSINA	FBN	Katsina	10	10,819.59
		INTERCITY BANK		13	12,158.22
		BON		12	18,479.45
		FBN		13	36,941.60
	OGUN	UBN	Sagamu	53	500,388.44
	OGUN	UBN	Ilaro	58	287,462.70
	MAKURDI	UBN	Makurdi	45	79,530.80
	MAKURDI	UBN	Egume	260	1,583,442.40
	IBADAN	UBN	Osogbo	14	138,900.40
			Lebanon	6	34,598.40
			Bank Road	15	202,667.20
			Uch	15	66,832.80
			Oyo	121	358,740.00
	KWARA	BON	Lokoja	158	121,739.32
		UBN	Okengwe	103	557,322.80
		UBN	Ajaokuta	10	60,990.60
	NIGER	UBN	Minna	67	400,840.00
	KWARA	UBN	Unilorin	213	565,666.80
		UBN	Market	48	96,671.60
		UBA	Ilorin	100	326,853.60
	LAGOS	UBN	Agbara	48	381,900.40
			V/Island	58	443,460.00
			Agege	82	421,121.22
			Allen Ave.	39	98,800.00
		GLOBAL BANK	Lagos	1	90,000.00
	A/IBOM	UBN	Uyo	40	240,489.60
	C/RIVER	UBN	Calabar	128	295,076.60
	C/RIVER	ISHIBORI CB	Ogoja	20	32,400.00
	ENUGU	UBN	Okpara Ave	9	36,492.55
			Ogbete Ave	121	603,907.92
			N/Mkt Osha	18	181,561.60
			N/Mkt Osha	11	76,635.20
			Ogbede	162	546,369.08
	EDO	FBN	Uromi	20	56,176.00
	PLATAEU	UBN	Lafia	728	1,871,690.00

TOTAL				1611	3,998,590.65
JUL.2006	KATSINA	FBN	Katsina	10	10,819.59
		INTERCITY BANK		13	12,158.22
		BON		12	18,479.45
		FBN		13	36,941.60
	OGUN	UBN	Sagamu	53	500,388.44
	OGUN	UBN	Ilaro	58	287,462.70
	MAKURDI	UBN	Makurdi	45	79,530.80
	MAKURDI	UBN	Egume	260	1,583,442.40
	IBADAN	UBN	Osogbo	14	138,900.40
			Lebanon	6	34,598.40
			Bank Road	15	202,667.20
			Uch	15	66,832.80
			Oyo	121	358,740.00
	KWARA	BON	Lokoja	158	121,739.32
		UBN	Okengwe	103	557,322.80
		UBN	Ajaokuta	10	60,990.60
	NIGER	UBN	Minna	67	400,840.00
	KWARA	UBN	Unilorin	213	565,666.80
		UBN	Market	48	96,671.60
		UBA	Ilorin	100	326,853.60
	LAGOS	UBN	Agbara	48	381,900.40
			V/Island	58	443,460.00
			Agege	82	421,121.22
			Allen Ave.	39	98,800.00
		GLOBAL BANK	Lagos	1	90,000.00
	A/IBOM	UBN	Uyo	40	240,489.60
	C/RIVER	UBN	Calabar	128	295,076.60
	C/RIVER	ISHIBORI CB	Ogoja	20	32,400.00
	ENUGU	UBN	Okpara Ave	9	36,492.55
			Ogbete Ave	121	603,907.92
			N/Mkt Osha	18	181,561.60
			N/Mkt Osha	11	76,635.20
			Ogbede	162	546,369.08
	EDO	FBN	Uromi	20	56,176.00
	PLATAEU	UBN	Lafia	728	1,871,690.00

			Gindiri	105	554,268.60
	OGUN	UBN	Ogere	20	133,000.40
	P/H	UBN	Bonny	19	165,403.20
	P/H	FBN	Main	11	21,591.41
	KANO	FBN	Dutse	27	11,488.60
		UBN	M/M Way	6	32,405.60
		WUDIL CB	Wudil	8	28,560.00
	KWARA	UBN	Oro	115	146,546.80
			TOTAL	3130	11,930,391.50
AUG.2006	IMO	UBN	Okigwe	245	531,000.00
		UBN	Orlu	8	33,091.60
		ULI CB	Uli	2	3,795.90
	LAGOS	UBN	Okokomaiko	50	356,636.00
	C/RIVER	UBN	Akamkpa	241	769,580.40
		MBUKPA CB	Mbukpa	1	2,407.20
		UTUGWANG CB	Obudu	1	4,610.95
	ONDO	UBN	Idanre	125	464,473.20
	ONDO	EFAN-ALAAYE CB	Efan-Alaaye	4	10,100.80
	NIGER	KONTOGORA CB	Kontagora	452	985,358.19
	NIGER	BIDA CB	Bida	86	58,260.00
	OYO	UBN	Challenge	43	171,192.00
	OYO	UBN	Agodi	6	79,206.40
			TOTAL	1,264	3,469,712.64
SEPT.2006	KANO	UBN	Challawa	508	1,223,931.60
	KANO	FBN	Club Road	1	838,225.08
	OGUN	UBN UBN	Iwopin	34	254,281.20
	OGUN	UBN UBN	Sagamu	39	884,937.92
	KWARA	UBN	Unilorin	312	1,517,989.20
	ADAMAWA	UBN	Mayo-Belwa	184	1,373,776.55
	NIGER	UBN	Paiko	88	175,064.80
		FBN	Kagara	19	66,344.88
		BEJIN-DOKO CB	Doko/Lemu	73	89,601.42
			TOTAL	1,258	6,424,152.65
NOV.2006	KADUNA	UBN	Kad. South	38	103,863.66


ENUGU	UBN	9th Mile	77	328,204.40
		New Mkt.Rd.	14	91,596.80
		New Mkt.Rd.	10	52,012.00
		Ogbete Mkt	92	473,415.12
IMO	ALVANA CB	Alvana	2	1,325.67
	OHAFIA CB	Ohafia	13	42,370.00
	UVURU CB	Uvuru	1	7,622.00
	UBN	Abayi	23	76,171.60
SOKOTO	FBN	Gusau	2,500	4,695,200.70
SOKOTO	GWADABAWA CB	Gwadabawa	109	84,317.95
IBADAN	UBN	Lebanon	5	52,402.00
KWARA	UBN	Lafiagi	437	1,868,375.67
KWARA	UBN	Unilorin	330	921,666.80
OGUN	UBN	Ogere	12	49,479.86
ADAMAWA	UBN	Bali 1	30	198,888.00
ADAMAWA	UBN	Bali 2	30	48,672.00
		TOTAL	3,723	9,095,584.23

JAN.2007	ENUGU	UBN	Igbo Ukwu	3	12,530.64
			Okpara Ave	19	121,111.35
			Enugu Ukwu	17	99,254.00
			Abagana	27	120,793.20
			Nnewi	5	99,849.60
		FBN	Enugu Main	1	6,626.05
	NIGER	UBN	Bida	254	1,388,978.00
	A/IBOM	UBN	Ikot Ekpene	87	1,066,280.00
	IBADAN	UBN	Oyo	173	581,622.80
	M/GURI	UBN	Baga	214	226,672.40
	MAKURDI	UBN	Idah	67	757,520.00
	MAKURDI	UBN	Otukpo Rd	594	1,974,840.00
	C/RIVER	UBN	Ogoja	11	193,178.80
	KADUNA	FBN	Zaria	5	7,872.00
	KADUNA	FBN	Kawo	4	10,775.32
	BENIN	FBN	Agbede	27	81,568.80
	ABUJA	UBN	Lokoja	20	127,680.00
	ABUJA	UBN	Ajaokuta	137	1,060,200.00
	KANO	UBN	M/M/Way	23	53,582.03
	OGUN	UBN	Abeokuta	176	953,486.40
	ADAMAWA	UBN	Yola	25	238,310.00
			Ibi	208	391,751.20
			Jalingo	220	1,532,916.00
	LAGOS	UBN	Allen Ave.	19	82,080.00
			Ikorodu	39	240,496.30
			Dopemu	148	1,150,640.00
		OGBA CB	Ogba	1	17,000.00
	PLATAEU	UBN	Jos Bank St.	77	438,140.00
			Awe	382	1,489,980.00
			Gindiri	303	1,700,500.00
		BANK PHB	Jos	14	57,000.00
			TOTAL	3,300	16,283,234.9

MAY.2007	P/H	UBN	Yenagoa	123	1,310,531.16
	P/H	UBN	Bonny	28	322,999.60
	LAGOS	UBN	Agege	91	355,107.56
			Badagry	46	283,102.80
			Allen Ave.	23	194,433.33
		OGBA CB	Ogba	1	10,776.00
	SOKOTO	FBN	Gusau	1071	2,001,549.82
	BENIN	UBN	Ekpoma	1	47,728.40
	BENIN	FBN	Ugbowo	1	343,702.01
	KATSINA	BANK PHB	Kankara	15	12,087.13
				11	10,719.10
				10	8,395.20
				10	14,991.68
				11	11,496.21
	ENUGU	UBN	Oko	35	333,716.07
			Awka	26	184,486.00
			Ogui Rd	15	128,009.60
			Garden Ave.	137	1,223,990.00
			Ajalli	175	761,072.00
			Ogbede	66	397,860.00
			Abakaliki	99	651,593.20
		FBN	Ikem	1	5,240.00
		FBN	Enugu Main	1	6,626.05
	BAUCHI	UBN	Talasse	2	3,221.60
			Bauchi	23	718,356.24
			Deba	16	43,726.04
		UNITY BANK	Bauchi	203	229,602.21
		UNITY BANK	Azare	167	128,246.93
		UBN UBN	Bauchi	67	1,479,187.48
			Talasse	19	553,862.96
			Gombe	80	2,038,881.86
			Gombe	45	161,202.03
			Bajoga	44	544,536.43
			TOTAL	2,663	14,521,036.70

MAY,2007	UYO	UBN	Uyo	47	471,616.80
	ILORIN	UBN	Okengwe	53	469,680.00
		UBN	Bacita	11	22,878.80
		UBA	Ilorin	5	64,828.56
	SOKOTO	GORONYO CB	Goronyo	387	283,744.80
	BENIN	UBN	Ibusa	29	317,934.40
	BENIN	UBN	Igueben	33	225,411.20
	KATSINA	FBN	Katsina	10	11,610.78
	M/GURI	UBN	M/Guri	20	55,323.60
	OWERRI	UBN	P/H Rd	16	52,668.00
	OGUN	UBN	Iwopin	15	257,138.00
		ADO-ODO CB	Ado-Odo	15	52,117.38
		ILISAN CB	Ilisan	2	66,522.00
	YOLA	UBN	Mubi	4	22,487.60
				15	103,075.60
				35	240,492.80
				5	34,356.00
				25	171,780.80
				15	103,075.60
				5	51,249.20
				35	240,492.80
				35	240,492.80
				15	103,075.60
				50	343,561.60
				160	1,000,728.00
			TOTAL	1,042	5,006,342.72
JUL, 2007	ILORIN	UBN	Lafiagi	575	3,449,544.00
	ILORIN	UBN	Omu Aran	407	1,175,847.99
	ADAMAWA	UBN	Demsa	20	190,648.00
	IMO	AMAIFEKE CB	Amaifeke	64	2,457,000.00
		UVURU CB	Uvuru	2	5,598.00
		ULI CB	Uli, Ihiala	1	3,135.52
		FBN	Amaraku	1	128,307.20
	KATSINA	BANK PHB	Katsina	15	15,134.22
				10	18,991.72
				16	16,457.98
				10	18,991.72
	OYO	UBN	Ile Ife	24	241,840.00
	ONDO	SPRING BANK	Acb Akure	4	40,304.72
	C/RIVER	FBN	Calabar Main	1	36,367.56
	C/RIVER	UNICAL CB	Calabar	1	18,191.78
	FCT ABJA	FIDELITY BANK	Area 8 Garki	1	404,342.98
	FCT ABJA	UBN	Lokoja	3	140,000.00
	KANO	UBN	Hadejia	4,324	8,430,255.56
	ILORIN	UBN	Patigi	696	2,106,743.75
	LAGOS	UBN	V/Island	84	970,440.00
		UBN	V/Island	6	51,300.00
		IPAJA CB	Ipaja	1	10,832.59
	OSUN	UBN	Ikirun	18	213,287.20
	OSUN	IJEBU IJESHA CB	Ijebu Ijesha	19	28,500.00
	SOKOTO	FBN	Sokoto	5	10,596.80
	KATSINA	UNITY BANK	Katsina	10	20,014.04
	BENUE	WEMA BANK	Makurdi	24	161,917.34
			TOTAL	6,342	20,364,590.67

SEP,2007	FCT ABJA	UBN	Okengwe	107	1,552,00.00
	FCT ABJA	UBN	Okengwe	40	136,000.00
	IMO	ULI CB	Uli	247	2,072,020.26
	KADUNA	FBN	Kaduna Main	2	6,613.70
	KATSINA	UNITY BANK(BON)	Daura	85	470,137.26
	KATSINA	UNITY BANK (INTERCITY)	Katsina	11	21,114.70
	NIGER	BANK PHB	Suleja	10	171,778.40
		FBN	Kuta	25	75,229.56
		FBN	Agaie	52	227,437.56
		UBN	Bida	78	714,744.80
	ENUGU	UBN	9th Mile	58	327,770.80
			9th Mile	1	597,654.00
			New Mkt Rd	10	74,639.20
			New Mkt Rd	11	69,714.00
			Bright Street	14	82,419.60
		NGODO CB	Abakaliki	1	14,475.06
	KANO	UBN	Bello Road	22	52,314.97
			Hotoro	83	148,612.45
			M/M Way	42	165,671.22
			Ado Bayero	45	127,648.00
			Bank Road	59	250,168.77
			Challawa	293	576,682.47
			Post Office	22	45,339.55
			Zoo Road	11	21,972.14
			Bompai	454	358,868.36
			Sharada	76	172,115.85
	BAUCHI	UBN	Bajoga	608	1,157,376.40
			Bauchi Main	373	2,618,894.80
			Yandoka	171	540,421.20
			TOTAL	3,011	12,849,835.08

NOV2007	FCT ABJA	LOGONGOMA CB	Lokoja	1	16,348.80
		UBN	Ajaokuta	245	3,165,600.00
		UBN	Lokoja	68	573,600.00
	IMO	UBN	Ohafia	35	104,962.80
	IMO	AKATTA CB	Akatta	34	1,159,184.00
	KANO	UNITY BANK	Nasarawa	142	282,371.92
	BAUCHI	UBN	Gombe	862	1,752,221.24
	ENUGU	FBN	Ezzamgbo	1	5,783.95
		UBN	Ogbette	112	724,476.00
			New Mkt Rd	7	11,080.00
			New Mkt Rd	44	123,009.60
			Bright Street	49	221,133.62
			Bright Street	17	88,654.75
	BENUE	WEMA BANK	Makurdi	26	130,025.22
		UBN	Eguma	36	215,200.00
			Otukpo Rd	56	347,200.00
				143	1,069,600.00
				423	1,817,600.00
				549	1,665,600.00
	KWARA	UBN	Bode Saadu	813	1,226,232.48
		UBA	Ilorin	100	1,719,553.20
		UBA	Ilorin	311	748,578.00
	OYO	UBN	Lebanon St	7	74,222.00
		UBN	Chalenge	36	176,090.00
		FBN	Ede	119	477,280.00
	A/IBOM	UBN	Uyo(Qit)	68	2,278,558.40
	A/IBOM	UBN	Uyo(Qit)	61	753,336.80
	EDO	UBN	Ekpoma	1	33,384.40
	EDO	UBN	Asaba	9	50530.00
	LAGOS	UBN	Yaba	43	281,657.52
	TOTAL			4,418	21,293,074.70
FEB 2008	OYO	UBN	Iwo Road	9	55,999.00
		UBN	Iwo Road	63	526,882.80
		OWODE CB	Owode	18	79,200.00
		UBN	Bank Road	17	217,600.00
		UBN	Lebanon	14	174,232.40
	NIGER	UBN	Paiko	124	546,408.40
		FBN	Bida	36	203,174.40
		BIDA CB	Bida	167	173,888.40
	IMO	ALL WORKERS CB	Owerri	48	572,596.80
	ADAMAWA	UBN	Jalingo	200	1,467,180.80
	IMO	UMUCHUKWU MFB	Umuahia	10	188,976.80
		AKOKWA	Akokwa	57	316,000.00
		ALVANA CB	Owerri	83	85,209.72
		MGBIDI MFB	Mgbidi	48	1,194,340.00
	RIVERS	UBN	Bonny	23	193,200.00
	RIVERS	UBA	Omoku	31	91,480.26
	KATSINA	FBN	Katsina	10	19,508.96
	ADAMAWA	UBN	Ibi	337	921,880.80
	C/RIVERS	UBN	Akamkpa	262	1,911,294.71
	KANO	UBN	Dutse	1,553	2,208,909.46
	OGUN	UBN	Ilaro	49	520,372.40
	LAGOS	UBN	V/Island	70	1,122,333.20
	A/IBOM	UBN	Ikot Ekpene	87	839,135.20
	OYO	UBN	Uch	8	53,813.60
	NIGER	UBN	Suleja	40	349,922.40
			TOTAL	3,364	14,033,540.51
MAR 2008	RIVERS	UBN	Kingsway	23	69,878.40
	OYO	UBN	Oyo	155	787,220.80
	OGUN