How to Apply for the CBN non interest Anchor Borrowers Programme Loan

The Central Bank of Nigeria (CBN) in line with its developmental function established the Anchor Borrowers Programme (ABP). The Programme which was launched by President Muhammadu Buhari (GCFR) on November 17, 2015 is intended to create a linkage between anchor companies involved in the processing and small holder farmers (SHFs) of the required key agricultural commodities.

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Why The CBN Anchor Borrowers Programme Loan?

The programme thrust of the ABP is provision of farm inputs in kind and cash (for farm labour) to small holder farmers to boost production of these commodities, stabilize inputs supply to agro processors and address the country’s negative balance of payments on food. At harvest, the SHF supplies his/her produce to the Agro-processor (Anchor) who pays the cash equivalent to the farmer’s account.
The Programme evolved from the consultations with stakeholders comprising Federal Ministry of Agriculture & Rural Development, State Governors, millers of agricultural produce, and smallholder farmers to boost agricultural production and non-oil exports in the face of unpredictable crude oil prices and its resultant effect on the revenue profile of Nigeria.
CBN Anchor Borrowers Programme
CBN Anchor Borrowers Programme for Agriculture

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Objectives of the CBN Anchor Borrowers Programme

The broad objective of the ABP is to create economic linkage between smallholder farmers and reputable large-scale processors with a view to increasing agricultural output and significantly improving capacity utilization of processors.

Other objectives include:

 Increase banks’ financing to the agricultural sector
 Reduce agricultural commodity importation and conserve external reserves
 Increase capacity utilization of agricultural firms
 Create new generation of farmers/entrepreneurs and employment
 Deepen the cashless policy and financial inclusion
 Reduce the level of poverty among smallholder farmers
 Assist rural smallholder farmers to grow from subsistence to commercial production levels.

Targeted Beneficiaries of the CBN Anchor Borrowers Programme

The loan shall be targeted at smallholder farmers engaged in the production of identified commodities across the country. The Farmers should be in groups/cooperative(s) of between 5 and 20 for ease of administration.

Identified Agricultural Commodities of the CBN Anchor Borrowers Programme

The targeted commodities of comparative advantage to the State shall include but not limited to: 3  Cereals (Rice, Maize, wheat etc.)  Cotton  Roots and Tubers (Cassava, Potatoes, Yam, Ginger etc.)  Sugarcane  Tree crops (Oil palm, Cocoa, Rubber etc.)  Legumes (Soybean, Sesame seed, Cowpea etc.)  Tomato  Livestock (Fish, Poultry, Ruminants etc.) Any other commodity that will be introduced by the CBN from time to time.

Eligible Participating Financial Institutions (PFIs) of the CBN Anchor Borrowers Programme

The loan shall be disbursed through any of these PFIs:  Deposit Money Banks (DMBs)  Development Finance Institutions (DFIs)  Microfinance Banks (MFBs)

The Anchor

This shall be private large-scale integrated processors who have entered into an agreement with the SHFs to off-take the harvested produce at the agreed prices or as may be reviewed by the PMT. State Governments may act as Anchor upon meeting the prescribed conditions.

Inputs Suppliers

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The input suppliers shall submit expression of interest letter to the office of the PMT for consideration and issuance of local purchase orders.

The Loan Amount

The Fund shall be provided from the N220 billion Micro, Small and Medium Enterprises Development Fund (MSMEDF). Loan amount for each SHF shall be arrived upon from the economics of production agreed with stakeholders.

Interest Rate

Interest rate under the ABP shall be guided by the rate on the N220 billion MSMEDF, which is currently at 9% p.a (all inclusive, pre and post disbursement). The PFIs shall access at 2% from the CBN and lend at a maximum of 9% p.a. 1.10. Tenor The tenor of loans under the ABP shall be the gestation period of the identified commodities.


Loans granted to the SHFs shall be repaid with the harvested produce that shall be mandatorily delivered to the Anchor at designated collection center in line with the provisions of the Agreement signed. The produce to be delivered must cover the loan principal and interest.

Application Process

For more information and details on how to apply for the Anchor Borrowers Programme, (ABP), CLICK HERE.
In Septrember 2021, the Anchor Borrowers Programme was revised. To read details of the updated copy and application procedures, CLICK HERE.

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About the Author: Femi Adeoya

Mr Femi Adeoya is a Chartered Forensic Accountant and a Certified Fraud Examiner. He has over 20 years professional work experience in accounting, finance and business management processes. As an Accounting Software Expert, he has implemented and supervised accounting solution set up of over 50 small and medium businesses in Nigeria. As a passionate blogger, Mr Adeoya is an ardent writer and communicationist. He is the CEO of QUICK LOAN ARENA (, the number 1 loan apps review website in Nigeria. He is very passionate about the quick and instant loan industry in Nigeria and has written over 200 reviews on different loan apps and digital banks in Nigeria, USA, Canada and UK.

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