Delta CBN AGSMEIS loan beneficiaries protest alleged imposition – Beneficiaries of the Central Bank of Nigeria (CBN) Agri-Business/Small and Medium Enterprises Investment Scheme (AGSMEIS) loan have protested alleged imposition of a vendor on them in Delta State.
The beneficiaries under the aegis of “Association of Ika CBN AGSMEIS Borrowers of Agbor, Delta” are demanding freedom to manage their loans or be allowed to choose a vendor.
They marched on the premises of NIRSAL Micro-Finance Bank Limited in Agbor, Ika South LGA, Delta State.
They lauded President Muhammadu Buhari for the scheme and CBN Governor, Godwin Emefiele for the prompt implementation and approval of the loan scheme.
But they threatened to abandon the scheme due to the imposition of a vendor and exploitation of beneficiaries.
Chanting solidarity songs, they bore placards with various inscriptions such as: “We don’t want vendors”; “No to economic exploitations”; “Give us freedom to manage our loans and “Give us our loans” among others.
The group’s Secretary, Godswill Nwaodun, explained it was a breach of their freedom of choice by the operating bank” NIRSAL” to impose a particular vendor on Delta beneficiaries.
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Nwaodun said: “On Feb. 12, 2021, CBN AGSMEIS granted loan of N5 million to me and other members of this association; N1.5 million for working capital while N3.5 million for equipment capital.
“All borrowers are to select vendors from among the list registered vendors by the bank for the supply of equipment in order to implement the project.
“Some of us have received alert from our banks but could not access the loan because of the restrictions from the managing bank, ”NIRSAL” which has imposed a vendor on us and had prevented us from choosing vendors ourselves.
“We have made several attempts when we invited the NIRSAL managers in Asaba, Agbor and Ubulu-Uno in the state to resolve the issues in good time but they turned it down; we have four vendors from the South South zone that we can choose from but we are forced to accept one vendor.
“The particular vendor forced on us has made things tougher for us. We have been exploited and supplied substandard equipment with quoted higher prices than the existing market price.”
The chairman, Mr Gabriel Aduwa, said the process of securing release for the loan has become cumbersome due to the activities of the vendors.
“If they continue to impose this particular vendor, we shall discontinue with the loan. We have our guarantors who are ready to pay back the loan in case of failure but we are committed and we want to manage our loans ourselves, we don’t need vendors.”
A representative of NIRSAL Micro-Finace Bank, Agbor, Mr. Barnard Chidi, assured there was no connivance between the bank and the vendor.
Chidi said the authorities of the bank were already looking into their issues.
