Disturbed by implementation of Anchor Borrowers Scheme, a Central Bank of Nigeria (CBN) intervention on agriculture, members of business community in Kano, have described the programme as a scam.

Besides, the community insisted that the Federal Government’s export incentives “are lopsided to favour foreign investors at the expense of local manufacturers.”

Speaking during an interactive session with Minister of Information and National Orientation, Mohammed Idris, on Friday, the businessmen urged the Federal Government to learn from the mismanagement of interventions by previous administrations.

The minister was in Kano in company of senior presidential aide on Communications and Strategy, Mr. Bayo Onanuga, as well as head of agencies under Ministry of Information on special engagement with stakeholders on government policies and programmes.

Chairman, Kano Business Community, Alhaji Sabiu Bako revealed that apart from poor management of CBN anchor borrowers scheme, the resources were not channelled to the farmers who are the main target.

Bako lamented the deplorable condition of electricity and negative impact on businesses in Kano. He equally reminded the minister of what he described as lopsided issuance of export incentives, which only favoured foreign investors in the state.

Chairman, Northern Chamber of Commerce, Alhaji Dalhatu Abubakar, urged President Bola Tinubu to ease challenges of availability forex and reactivate the quarterly engagement with Kano business community to enhance ease of doing business.

Another prominent member of the community, Mohammad Sani Saibu, solicited Federal Government’s intervention in the areas of credit facility, just as he called for a review of the processes and procedures of accessing government loans.

Reacting, the minister assured the business community that the “present administration is ready to listen and address their plight to enhance social economic development.”

Idris explained that government was aware of challenges Nigerians were going through as a result of fuel subsidy removal, adding that the president was committed to mitigating the situation.

Idris said the government had earmarked N200b business grant for traders, food vendors, and other business community. He added that another N100b was set aside for agribusiness development. (The Guardian)

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