Bank of Agriculture and UNDP join forces to boost farm financing
The Bank of Agriculture has announced a new strategic roadmap to modernise its operations and expand financial inclusion for farmers. The bank’s Managing Director, Ayodeji Sotinrin, revealed that partnerships and operational upgrades are underway to improve agricultural programmes and empower smallholder farmers. A recent collaboration with the United Nations Development Programme aims to align the bank’s revitalisation agenda with broader development goals. The initiative also includes new verification processes and digital upgrades to ensure support reaches genuine farmers.
TLDR
- The Bank of Agriculture is partnering with the United Nations Development Programme to modernise agricultural financing and support Nigeria’s food security agenda.
- The bank has introduced stricter verification measures, including Bank Verification Number checks and GPS farm mapping, to ensure loans reach real farmers.
- Ayodeji Sotinrin stated the goal is to create a resilient food system by bringing more farmers, especially youths, into the financial network.
- The bank is deploying digital farmer systems, agency banking, and solar-powered infrastructure across 110 branches to improve rural service delivery.
- The All Farmers Association of Nigeria, led by Muhammad Magaji, supports the new measures and calls for faster loan disbursement to match planting seasons.
